PETALING JAYA: The earnings impact on MISC Bhd should it lose its case against Sabah Shell Petroleum Co Ltd could be significant and affect the local energy shipping firm in the next three financial years, said CIMB Research.
In September 2016, MISC’s unit Gumusut-Kakap Semi-Floating Production System (GKL) started legal proceedings to seek a resolution on contractual disputes covering various claims under a lease agreement dated Nov 9, 2012 between GKL and Sabah Shell. MISC filed an arbitration seeking RM1bil from Sabah Shell.