CMSB

1.080

(%)

OTHERS ARBITRATION PROCEEDINGS COMMENCED BY MALAYSIAN PHOSPHATE ADDITIVES (SARAWAK) SDN BHD AGAINST SYARIKAT SESCO BERHAD

CAHYA MATA SARAWAK BERHAD

Type Announcement
Subject OTHERS
Description
ARBITRATION PROCEEDINGS COMMENCED BY MALAYSIAN PHOSPHATE ADDITIVES (SARAWAK) SDN BHD AGAINST SYARIKAT SESCO BERHAD

Reference is made to the announcement made by the Board of Cahya Mata Sarawak Berhad (the "Company" or "Cahya Mata") on 25 November 2022 pertaining to the Arbitration proceedings commenced by its subsidiary company with the Director of Asian International Arbitration Centre ("AIAC"), Malaysian Phosphate Additives (Sarawak) Sdn Bhd ("MPAS") against Syarikat SESCO Berhad ("SESCO").

 

The Company wishes to update that the AIAC has granted an interim injunction in favour of MPAS against SESCO in relation to a dispute arising out of a power purchase agreement relating to the sale, and purchase, of electric power ("Contract Energy") for a phosphate production facility ("Facility") located in Sarawak, Malaysia between SESCO (as seller) and MPAS (as buyer) dated 15 January 2019 ("PPA").

 

This announcement is dated 29 November 2022.






Announcement Info

Company Name CAHYA MATA SARAWAK BERHAD
Stock Name CMSB
Date Announced 29 Nov 2022
Category General Announcement for PLC
Reference Number GA1-29112022-00053