Latest news with #MMHE
Malaysian Reserve
21-04-2025
- Business
- Malaysian Reserve
MHB's served with notice of arbitration over Bokor Phase 3 subcontract, potential claim of RM57.3m
MALAYSIA Marine and Heavy Engineering Holdings Bhd (MHB) said that its wholly-owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), has been served with a notice of arbitration by Haumea Offshore Sdn Bhd (formerly Trans Fame Offshore). The dispute relates to the subcontract for hook-up and commissioning works and marine vessels for the Bokor Phase 3 redevelopment project. Haumea Offshore is claiming approximately RM57.3 million, including interest and costs. MHB stated the arbitration poses no operational impact and MMHE will vigorously defend the claim while also considering a counterclaim. — TMR
New Straits Times
21-04-2025
- Business
- New Straits Times
MHB's unit faces RM57mil arbitration claim from subcontractor
KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MHB)'s unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), has been served with a notice of arbitration involving a claim of RM57.3 million. The notice, dated April 11, stems from a dispute over a subcontract for the Bokor Phase 3 redevelopment project labeled as Package A, the group said in a filing with Bursa Malaysia today. Under the subcontract, Haumea Offshore, formerly known as Trans Fame Offshore Sdn Bhd, was appointed to carry out hook-up and commissioning works, including providing marine vessels for the project. The arbitration, filed under the Asian International Arbitration Centre rules, concerns disagreements over the performance of the works. The claim includes alleged losses, interest, costs and any other relief deemed appropriate by the arbitral tribunal. MHB said the financial impact on the group will depend on the outcome of the proceedings, but no operational disruptions are expected. It added MMHE intends to vigorously contest the claim and is considering a counterclaim, along with any additional legal remedies available under Malaysian law.
