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Material Litigation

BackApr 06, 2023
Type Announcement
Subject MATERIAL LITIGATION
Description COURT OF APPEAL DECISION FOR MATTER BETWEEN MALAYSIA AIRPORTS HOLDINGS BERHAD AND SYARIKAT PEMBINAAN ANGGERIK SDN BHD

 

We refer to our announcements dated 17 September 2021 and 14 October 2021.

 

In April 2017, Syarikat Pembinaan Anggerik Sdn Bhd (“SPASB”) had initiated a civil suit against Malaysia Airports Holdings Berhad (“the Company”) in the eventual total sum of RM66,834,195.48 for alleged losses and damages pertaining to works carried out by SPASB for the projects known as “Proposed Development and Upgrading Works at Penang International Airport, Bayan Lepas, Pulau Pinang” and the “Proposed Construction and Completion of Site Office, Central Utilities Building and Airside Drainage Works at Penang International Airport”.

 

On 15 September 2021, the Shah Alam High Court had awarded SPASB the sum of RM9,929,436.23 plus interest. Subsequently, appeals against the Shah Alam High Court’s decision were filed.

 

The Company wishes to announce that on 6 April 2023, the Court of Appeal awarded SPASB a further sum of RM8,708,532.67.

 

Taken together, the overall sum awarded to SPASB by the Shah Alam High Court and the Court of Appeal is RM18,637,968.90 plus interest out of SPASB’s total claim of RM66,834,195.48.

 

The Company is currently taking legal advice on this matter.

 

Any further updates in respect of any material development will be made from time to time.

 

This announcement is dated 6 April 2023.


Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 06 Apr 2023
Category General Announcement for PLC
Reference Number GA1-06042023-00041