KUALA LUMPUR: KL-Kuala Selangor Expressway Bhd (“LATAR”), an associate company of Bina Puri Holdings Bhd (“Bina Puri”) has won an arbitration case against PROLINTAS, over non-payment of monies to LATAR under the Co-ordination and Cost-sharing agreement.
In a Bursa Malaysia filing, Bina Puri said LATAR commenced arbitral proceedings on July 19, 2019 against PROLINTAS at the Asian International Arbitration Centre.
The arbitration tribunal ordered PROLINTAS to pay RM46,131,147.57 with interest to LATAR in its judgment on Nov 7 this year.
LATAR is the concessionaire for the 33km-long Kuala Lumpur – Kuala Selangor expressway which was open to the public on June 23, 2011.
PROLINTAS is an investment holding company that designs, builds, operates, and maintains highways.
