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MATERIAL LITIGATION UPDATES ON WRIT OF SUMMONS SERVED ON MALAYSIA AIRPORTS HOLDINGS BERHAD BY SYARIKAT PEMBINAAN ANGGERIK SDN BHD

MALAYSIA AIRPORTS HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
UPDATES ON WRIT OF SUMMONS SERVED ON MALAYSIA AIRPORTS HOLDINGS BERHAD BY SYARIKAT PEMBINAAN ANGGERIK SDN BHD

We refer to our announcements dated 20 April 2017, 31 January 2019 and 15 July 2019.

 

The Board of Directors of Malaysia Airports Holdings Berhad (“the Company”) wishes to announce that on 15 September 2021, the Shah Alam High Court delivered its decision for the trial between Syarikat Pembinaan Anggerik Sdn Bhd (“SPASB”) and the Company. SPASB had initiated a civil suit against the Company for the total sum of RM66,834,195.48 being claims for balance of work payments for two work packages, acceleration costs, prolongation costs and interest pertaining to the works carried out by SPASB at Penang International Airport.

 

Out of the total sum of RM66,834,195.48 claimed by SPASB, the Shah Alam High Court only awarded SPASB the sum of RM9,929,436.23 plus interest for balance of work payments. The awarded sum takes into account a deduction of RM750,000 in liquidated ascertained damages awarded to the Company for SPASB’s delays in completing the airport’s airside drainage works. The Shah Alam High Court dismissed the entirety of SPASB’s claims for acceleration costs and prolongation costs.

 

This Announcement is dated 17 September 2021.






Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 17 Sep 2021
Category General Announcement for PLC
Reference Number GA1-17092021-00062




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