Bursa Announcements
News
Material Litigation
Jun 09, 2014
Type
Announcement
Subject
MATERIAL LITIGATION
Description
ARBITRATION PROCEEDINGS BY MMCEG-GAMUDA JOINT VENTURE AGAINST WAYSS & FREYTAG (MALAYSIA) SDN BHD
We refer to our announcements of 17 December 2008, 19 January 2009, 16 April 2013, 18 April 2013 and 27 May 2013 in respect of the above matter.
Gamuda Berhad (“Gamuda” or “the Company”) wishes to announce that the application to determine questions of law arising out of the Arbitral Award of 16 April 2013 (“the Award”) filed by Gamuda, a party to the MMCEG-Gamuda Joint Venture (“the JV”), has today been dismissed by the Kuala Lumpur High Court.
The Kuala Lumpur High Court has also ordered that further directions in respect of the JV’s application to set aside the Award based on public policy will be provided after the High Court has dealt with other interlocutory applications in the matter. The interlocutory applications are now fixed for hearing before the High Court Judge on 30 June 2014.
Gamuda has 50% interest in the JV.
Gamuda will make further announcement if there is any material development in the matter.
This announcement is dated 9 June 2014.
Announcement Info
Company Name
GAMUDA BERHAD
Stock Name
GAMUDA
Date Announced
9 Jun 2014
Category
General Announcement
Reference No
GG-140609-62964
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | ARBITRATION PROCEEDINGS BY MMCEG-GAMUDA JOINT VENTURE AGAINST WAYSS & FREYTAG (MALAYSIA) SDN BHD |
|
We refer to our announcements of 17 December 2008, 19 January 2009, 16 April 2013, 18 April 2013 and 27 May 2013 in respect of the above matter.
Gamuda Berhad (“Gamuda” or “the Company”) wishes to announce that the application to determine questions of law arising out of the Arbitral Award of 16 April 2013 (“the Award”) filed by Gamuda, a party to the MMCEG-Gamuda Joint Venture (“the JV”), has today been dismissed by the Kuala Lumpur High Court.
The Kuala Lumpur High Court has also ordered that further directions in respect of the JV’s application to set aside the Award based on public policy will be provided after the High Court has dealt with other interlocutory applications in the matter. The interlocutory applications are now fixed for hearing before the High Court Judge on 30 June 2014.
Gamuda has 50% interest in the JV.
Gamuda will make further announcement if there is any material development in the matter.
This announcement is dated 9 June 2014. |
|
Announcement Info
| Company Name | GAMUDA BERHAD |
| Stock Name | GAMUDA |
| Date Announced | 9 Jun 2014 |
| Category | General Announcement |
| Reference No | GG-140609-62964 |