NOTES TO THE FINANCIAL STATEMENTS Registration No. 200301030845 (633265-K) - 147 - 40. Material Litigation (Cont’d) (i) Singapore International Arbitration Centre Suit No. ARB181/24/VKH (Cont’d) The Claimant has claimed for the following reliefs in the Notices of Arbitration: (Cont’d) (b) Post-award interest on any sum awarded by the tribunal until the date of full repayment; (c) Alternative to the prayers abovementioned relief, damages to be assessed; (d) Such further or other reliefs that the tribunal deems fit to grant; and (e) All costs and expenses incurred by the Claimant occasioned by these proceedings (including but not limited to legal costs and disbursements, the costs and expenses of the tribunal, transcription services, the costs of expert advice and/or assistance required by the tribunal and the fees and expenses of the appointing authority) to be paid by the Respondent. Under the SIAC Rules, the Respondents are both required to file a Response to the Notices of Arbitration with SIAC within 14 days from receipt of the Notices of Arbitration. As at 2 December 2024, the amount claimed by Damen is €3,525,474.79 (with any post award interest). Destini has responded to the claim on 27 February 2025. On 7 April 2025, Destini has filed for a counter claim application amounting to €2,171,504.67 being the overpayment to the Claimant (“Counterclaim 1”) and USD1,419,464.84 for the loss suffered by Destini due to the unproven hull design (“Counterclaim 2”). On 9 June 2025, the tribunal has allowed Destini’s Counterclaim 1 application. The parties are required to revise the cause papers to adopt the decision of the tribunal on this matter. DESTINI BERHAD ANNUAL REPORT 2025 230
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