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MATERIAL LITIGATION IN THE MATTER OF ADJUDICATION BETWEEN ZELAN CONSTRUCTION SDN BHD AND BBCC DEVELOPMENT SDN BHD IN THE ASIAN INTERNATIONAL ARBITRATION CENTRE (AIAC) FORMERLY KNOWN AS KUALA LUMPUR REGIONAL CENTRE FOR ARBITRATION (KLRCA)

ZELAN BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
IN THE MATTER OF ADJUDICATION BETWEEN ZELAN CONSTRUCTION SDN BHD AND BBCC DEVELOPMENT SDN BHD IN THE ASIAN INTERNATIONAL ARBITRATION CENTRE (AIAC) FORMERLY KNOWN AS KUALA LUMPUR REGIONAL CENTRE FOR ARBITRATION (KLRCA)

Zelan Berhad (“Company”) would like to announce that its wholly owned subsidiary, Zelan Construction Sdn Bhd (“the Claimant”) has commenced adjudication proceedings under Construction Industry Payment and Adjudication Act 2012 (“CIPAA 2012”) against BBCC Development Sdn Bhd (“Respondent”) for the principal sum of RM3,344,251.31 together with late payment interest and costs, in which amount will be determined at a later stage.

 

The Claimant’s claims against the Respondent are premised on the works done and outstanding payment due in relation to the main construction works for a project known as, Cadangan Pembangunan Sementara 4 Tingkat Pejabat Jualan, Rumah Contoh Dan 1 Tingkat Sub-Basemen Di Atas Sebahagian Lot PT143, Seksyen 56, Jalan Hang Tuah/Jalan Pudu, Dalam Bandaraya Kuala Lumpur.

 

The Claimant, inter alia seeks the following reliefs and/or remedies against the Respondent:-

 

(a) The payment of the outstanding sum of RM3,344,251.31, or any such amount deem fit and reasonable by the Adjudicator;

 

(b) Interest on the adjudicated amount based on 5% simple interest per annum from the due date for payment and the date on which payment is finally made;

 

(c) Cost for the preparation of the adjudication claim;

 

(d) Costs arising from and/or in connection with the adjudication proceedings;

 

(e) All other incidental costs; and

 

(f) Such further and other reliefs that the Adjudicator may deem fit.

 

The Company will make further announcement(s) as and when there are any material developments in relation to the above matter.

 

This Announcement is dated 28 March 2019.            






Announcement Info

Company Name ZELAN BERHAD
Stock Name ZELAN
Date Announced 28 Mar 2019
Category General Announcement for PLC
Reference Number GA1-28032019-00101



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