1. Introduction
By letter dated 4 May 2026, issued by the Asian International Arbitration Centre and received by AMSB's solicitors on 14 May 2026, AMSB was notified of the commencement of an arbitration proceedings by Linde against AMSB on 22 April 2026.
2. Background of the Arbitration
In the arbitration commenced by Linde against AMSB, Linde has alleged that AMSB has breached the agreement between the parties for the 'Supply of Oxygen, Nitrogen and Argon at Bukit Rajah Industrial Estate' dated 1 July 2017 ("Agreement").
3. Particulars of Claim
In the arbitration, Linde is seeking for, amongst others, the following:
- A declaration that the Agreement remains valid and subsisting until 16 August 2031;
- A declaration that AMSB is liable under the Agreement to pay all charges until 16 August 2031;
- Payment of RM16,669,123.20 as of 6 March 2026;
- Payment from 6 March 2026 up to 16 August 2031 amounting to RM79,732,224.00 or in the alternative, damages for breach of contract;
- Interest;
- Costs; and
- Such further and other reliefs deemed just and proper.
4. Financial and Operational Impact on AMSB
AMSB is seeking legal advice on the merits of the claim by Linde and on the courses of action that can be taken. The financial and operational impact cannot be determined with reasonable certainty at this juncture.
The Company will make the necessary announcements on further developments on the matter (if any) in due course.
This announcement is dated 15 May 2026.