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Kuala Lumpur, Kuala Lumpur, Malaysia

Temperature 24 °C Cloudy

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Arbitration Between Malaysia Airports Holdings Berhad, Segi Astana Sdn Bhd And Wct Berhad

BackNov 02, 2021
Type Announcement
Subject OTHERS
Description ARBITRATION BETWEEN MALAYSIA AIRPORTS HOLDINGS BERHAD, SEGI ASTANA SDN BHD AND WCT BERHAD

 

Reference is made to the Company’s previous announcement dated 2 September 2021 pertaining to the Arbitrator’s Final Award in relation to the arbitration proceedings by Malaysia Airport Holdings Berhad (“MAHB”) against Segi Astana Sdn Bhd (“SASB”) and WCT Berhad (“WCTB).

 

The Board of Directors of MAHB wishes to announce that SASB and MAHB have on 1 November 2021 entered into a mutually agreed amicable payment agreement for the amounts awarded under the Arbitrator’s Final Award to be settled by SASB progressively over a period of nine (9) months. Pursuant to the terms of the agreement, all pending legal proceedings arising from the arbitration will be discontinued and withdrawn with no order as to costs.

 

This announcement is dated 2 November 2021.

 

Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 02 Nov 2021
Category General Announcement for PLC
Reference Number GA1-02112021-00073