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BackApr 20, 2017
Type Announcement
Subject OTHERS
Description
WRIT OF SUMMONS SERVED ON MALAYSIA AIRPORTS HOLDINGS BERHAD

Malaysia Airports Holdings Berhad (“the Company”) wishes to announce that it has received on 19 April 2017 a Writ of Summons dated 18 April 2017 from Syarikat Pembinaan Anggerik Sdn Bhd. (“SPASB”) where SPASB claimed against the Company for the sum of RM43,992,292.78 and other claims on damages and interest in respect of the alleged losses and damages pertaining to the works carried out by SPASB for the “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” pursuant to the Letter of Offer dated 2 September 2010, Letter of Offer dated 13 January 2011 and the Contract Agreements relating thereto.

The Company has obtained a preliminary view from its legal counsel who considers that the Company has a reasonably good prospect of defending SPASB’s claims.

SPASB’s claims are expected not to have a material impact on the earnings and the net assets of the Company for the financial year ending 31 December 2017.

The Company has instructed its solicitors to represent the Company in the legal action and any further updates in respect of any material development will be made from time to time.

This announcement is dated 20 April 2017. 





Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 20 Apr 2017
Category General Announcement for PLC
Reference Number GA1-20042017-00083