PETALING JAYA: Steel Hawk Bhd
has initiated legal proceedings against five parties, alleging breaches of a collaboration agreement and misappropriation of funds linked to engineering projects for Tenaga Nasional Bhd (TNB).
In a bourse filing yesterday, the group said its wholly owned subsidiary, Steel Hawk Engineering Sdn Bhd (SHESB), had filed a writ of summons and statement of claim at the High Court in Kuala Lumpur.
The defendants are Ibrahim & Sons Engineering Sdn Bhd (IBSE), Always Ahead Engineering Sdn Bhd, and three individuals.
The dispute stems from a collaboration agreement dated July 31, 2025, under which IBSE was appointed as the main contractor while SHESB provided funding and working capital in return for repayment and profit-sharing.
The agreement stipulated that all payments received from TNB were to be held in designated trust or escrow accounts.
