MATERIAL LITIGATION NOTICE OF ARBITRATION RECEIVED FROM HAUMEA OFFSHORE SDN BHD (FORMERLY KNOWN AS TRANS FAME OFF SHORE SDN BHD)("TFO")
| MUHIBBAH ENGINEERING (M) BHD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | NOTICE OF ARBITRATION RECEIVED FROM HAUMEA OFFSHORE SDN BHD (FORMERLY KNOWN AS TRANS FAME OFF SHORE SDN BHD)("TFO") |
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The Board of Directors of Muhibbah Engineering (M) Bhd (“MEB” or “the Company”) wishes to announce that the Company was served with a Notice of Arbitration from TFO for a total claim of RM43.4 million (“the Claim”) in respect of a sub-contract for hook-up and commissioning works and marine vessel services for the Yetagun Acid Gas Removal Unit Project, which was mutually terminated effective on 15 July 2020.
MEB will contest the Claim in the arbitration proceedings and will also be filing a counter-claim against TFO. It is premature to estimate the financial impact of the Claim at this juncture and the Company will update when there are material developments.
This announcement is dated 9 May 2025. |
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Announcement Info
| Company Name | MUHIBBAH ENGINEERING (M) BHD |
| Stock Name | MUHIBAH |
| Date Announced | 09 May 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09052025-00034 |