KUALA LUMPUR: KKB Engineering Bhd
’s subsidiary, OceanMight Sdn Bhd (OMSB), has obtained final arbitral awards totalling RM49.78 million from the Arbitral Tribunal against Shapadu Energy Services Sdn Bhd (SES).
In a Bursa Malaysia filing, KKB Engineering said the final arbitral awards dated Oct 12, 2026, require SES to pay RM49.78 million, plus interest at five per cent per annum from the date of the awards until full payment.
"OMSB will take all necessary legal actions, including recognition and enforcement of the final arbitral awards through the High Court.
"The company will make further announcements as and when there are material developments on the arbitration matter,” it said.
On Sept 15, 2023, the company announced that OMSB issued a notice to commence arbitration proceedings against SES over disputes arising from subcontracting agreements dated Dec 23, 2019 and Jan 14, 2020, for hook-up and commissioning projects in Sarawak.
Pursuant to the arbitration notice, OMSB is claiming costs for the completed projects, loss of profits and all other losses and expenses incurred, including incidental costs. - Bernama
