The Company wishes to announce that on 24 November 2014, the Company has received an Award dated 20 November 2014 from the Arbitrator of Kuala Lumpur Regional Centre (KLRCA) for the arbitration proceedings pertaining to a cargo dispute between the Company as Claimant and Metroport Air Services Sdn. Bhd. as Respondent. Metroport Air Services Sdn. Bhd. is a wholly-owned subsidiary of Metroport Group Berhad.

The Arbitrator has ordered the Respondent to pay the following:

 i. the sum of RM 24,627,144.00 with an interest of 4% per annum on that sum from 9 February 2012 until the date of full and final settlement; and

 ii. legal costs of RM 443,700.00 to the Company.

This announcement is dated 24 November 2014.

Announcement Info