In a joint statement issued on Thursday, both parties have reached an out-of-court settlement to amicably resolve all their disputes.
“In a settlement agreement executed yesterday, both parties have agreed to withdraw all proceedings in Malaysian courts and arbitration in Singapore,” they said.
The statement said this settlement should not constitute nor be deemed nor treated by any party as an admission of any allegation and/or liability.
“Parties have come to an agreement in resolution of their disputes, in which the decision has also been made to stop all court or any other enforcement actions against each other,” they said.
Did you find this article insightful?
50% readers found this article insightful