MAHB, HSSI agree on RM1.5m settlement

PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) is withdrawing the notice of arbitration against HSS Integrated Sdn Bhd (HSSI) following the RM1.5 million settlement agreed upon by both parties.
In a filing with Bursa Malaysia last Friday, MAHB said the two parties have principally agreed to the settlement on a without admission of liability basis, towards the claims under the notice of arbitration.
"The settlement was reached via the negotiation and/or mediation process between the parties as the parties have mutually agreed to withhold the arbitration proceeding. In light of this settlement, MAHB will withdraw the notice of arbitration against HSSI," it said.
HSSI has remitted the full and final settlement of RM1.5 million via electronic transfer to MAHB. To recap, MAHB issued a notice of arbitration against HSSI, claiming about RM64.62 million for an alleged breach of the memorandum of agreement for works done at the arrival and departure area of klia2.