KUALA LUMPUR: Shares of Malaysia Airports Holdings Bhd (MAHB) fell 3% in morning trade on RM70mil arbitration claim from Segi Astana Sdn Bhd over klia2 Integrated Complex delay.
The airport operator is among the top losers on Bursa, shedding 2.99%, or 23 sen to RM7.46.
MAHB said Segi Astana is claiming RM70mil for alleged losses and damages pertaining to the delay in the commencement of the commercial operation of the klia2 Integrated Complex.
MAHB said it is disputing and challenging the claims by Segi Astana. It has appointed a law firm in Malaysia to represent and assist the company in the arbitration proceedings.
The airport operator said the arbitration proceedings are not expected to have any material financial and operational impact to the group or the company’s business operation.
MAHB also said it had issued an arbitration notice against WCT Bhd and Segi Astana to recover fixed monthly charges of RM958,849.00 for the supply of chilled water for the integrated complex's cooling system.