We refer to our announcements on 11 April 2018, 7 May 2018, 27 June 2018 and 6 July 2018 in respect of the Arbitration Proceedings.
The Company has received the Final Award of the Arbitrator Tribunal dated 27 November 2024 (“the Award”). In the Award, the Arbitrator had determined for BCSB to pay RM26,406,017.72 with interest to MEDSB.
Subsequently, on 27 December 2024, BCSB requested for amendments to be made pursuant to Section 35(1)(a) of the Arbitration Act.
The revised award was received on 13 February 2025, with no change to the amount previously stated.
MEDSB shall apply to enforce the arbitration award. The Company will make further announcement if there is any material update on the development of the enforcement to Bursa Malaysia Securities Berhad from time to time.
This announcement is dated 13 February 2025.