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OTHERS WCT Holdings Berhad ("WCT" or "the Company") Arbitration between Malaysia Airports Holdings Berhad, Segi Astana Sdn Bhd and WCT Berhad

WCT HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
WCT Holdings Berhad ("WCT" or "the Company")
Arbitration between Malaysia Airports Holdings Berhad, Segi Astana Sdn Bhd and WCT Berhad

Reference is made to the Company’s previous announcements 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”) (a joint-controlled company jointly owned by the Company and MAHB on 70:30 basis) and WCT Berhad (“WCTB”) (a wholly owned subsidiary of the Company).  

 

The Board of Directors of WCT 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to the terms of the agreement, all pending legal proceedings arising from the arbitration will be discontinued and withdrawn with no order as to costs.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 WCT HOLDINGS BERHAD
Stock Name WCT
Date Announced 02 Nov 2021
Category General Announcement for PLC
Reference Number GA1-02112021-00055




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