JAKARTA - PT Mora Telematika Indonesia (Moratelindo) and PT Bandung Infra Investama (Perseroda) have cancelled their joint operation agreement to build a telecommunication infrastructure project in Bandung, West Java.
According to Moratelindo Corporate Secretary Henry Rizard Rumapoa, the joint operation agreement has been cancelled because all parties have not met the established condition precedent. "The condition precedent has not been met in accordance with the agreement," he said in a stock exchange filing on Friday (25/9).
The agreement, Mr Rumapoa said, was signed on 28 September 2018 with Rp 1.01 trillion in funding. "The cancellation will not significantly affect the company because the project has not been executed," he said. (LK/MS)