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MATERIAL LITIGATION PUNCAK NIAGA HOLDINGS BERHAD (416087-U) ("PUNCAK" OR THE "COMPANY") UPDATE ON ARBITRATION PROCEEDINGS IN RELATION TO THE CHENNAI WATER SUPPLY AUGMENTATION PROJECT 1 PACKAGE III ("CHENNAI PROJECT"), INDIA ("THE FIRST ARBITRATION PROCEEDINGS")

PUNCAK NIAGA HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description 
PUNCAK NIAGA HOLDINGS BERHAD (416087-U) ("PUNCAK" OR THE "COMPANY") 
UPDATE ON ARBITRATION PROCEEDINGS IN RELATION TO THE CHENNAI WATER SUPPLY AUGMENTATION PROJECT 1 PACKAGE III ("CHENNAI PROJECT"), INDIA ("THE FIRST ARBITRATION PROCEEDINGS")

Reference is made to the earlier announcements dated 31 January 2013, 13 February 2013, 18 March 2013, 10 April 2013, 22 April 2013, 1 August 2013, 2 September 2013, 30 September 2013, 11 November 2013, 6 January 2014, 29 January 2014, 10 February 2014, 25 April 2014, 2 June 2014, 4 July 2014, 18 August 2014, 27 October 2014, 17 November 2014, 26 November 2014, 7 January 2015, 15 December 2015, 3 March 2016, 20 April 2016, 2 June 2016, 11 July 2016, 2 August 2016, 19 September 2016, 4 October 2016, 11 November 2016, 21 November 2016, 4 January 2017, 11 January 2017, 23 February 2017, 8 March 2017, 12 April 2017, 19 June 2017, 17 July 2017, 24 August 2017, 11 September 2017, 23 October 2017, 20 November 2017, 8 January 2018, 26 February 2018, 23 March 2018, 7 May 2018, 25 June 2018, 2 July 2018, 13 August 2018, 18 September 2018, 18 November 2019, 10 June 2020, 17 August 2020, 11 September 2020, 25 January 2021, 10 February 2022, 17 February 2022, 23 February 2022, 17 March 2022, 1 April 2022, 22 April 2022, 16 June 2022, 15 July 2022, 22 July 2022, 11 August 2022, 9 September 2022, 19 September 2022, 21 September 2022, 28 September 2022, 19 October 2022, 2 November 2022, 16 November 2022, 25 November 2022, 2 December 2022 and 16 December 2022 in respect of the above matter.

Puncak wishes to update the Exchange that at the final order joint hearing of the Claimant’s appeal against the decision of the Arbitration Panel dated 13 November 2019 in respect of the First Arbitration Proceedings and the Claimant’s appeal against the decision of the Arbitrator dated 29 March 2013 in respect of the Second Arbitration Proceedings on 8 February 2023, the Madras High Court delivered the final oral judgements in dismissing the appeals filed by the Claimant in relation to the decision of the Arbitration Panel dated 13 November 2019 in respect of the First Arbitration Proceedings and the decision of the Arbitrator dated 29 March 2013 in respect of the Second Arbitration Proceedings with no order as to costs since the Claimant had failed to establish its case for both appeals. The written judgements were obtained on 10 February 2023 by the counsel to PNHB-LANCO-KHEC JV ("the JV" or "the Respondent").

This announcement is dated 10 February 2023.



Announcement Info

Company Name PUNCAK NIAGA HOLDINGS BERHAD
Stock Name PUNCAK
Date Announced 10 Feb 2023
Category General Announcement for PLC
Reference Number GA1-10022023-00011


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