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Nexbis confirms Maldives project is on hold

Nexbis confirms Maldives project is on hold

IT security company Nexbis (ASX:NBS) said it had received formal notification of the suspension of its border security project in the Maldives.

The company said it had been informed that a formal complaint had been filed with the nation's Anti Corruption Commission (ACC), which has advised all work on the project cease while the complaint is investigated.

News that the project has been suspended has been circulating since November, but Nexbis said this is the first time it has received confirmation of the freeze. The company repeated its insistence that it had won the deal through a fair and honest tender process.

NBS shares grew 5.26% during Thursday's trading to $0.100.

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Tags ASX:NBSsecurityNexBiscorruptionbusiness deals

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