Zelan Berhad (“Company”) would like to announce that its wholly owned subsidiary, Zelan Holdings (M) Sdn Bhd (“ZHSB”) has been served with an Originating Summons (“OS”) by Reliance Electro Mechanical Plumbing Contracting Co LLC (“REMCO”) through its Solicitors Messrs Cheah Teh & Su today whereby REMCO is seeking for an Order of the High Court inter alia as follows: -
- The Award made in the arbitration between the REMCO and ZHSB in the Arbitration Case No.579/2018 (“Arbitration Award”) which took place in the United Arab Emirates be recognised as binding as from the date of delivery of the Arbitration Award on 30.12.2019; and
- Permission to enforce the Arbitration Award in the same manner as a judgement entered for REMCO against ZHSB
The Company will make further announcement on any material development in respect of this matter, from time to time.
This Announcement is dated 5 July 2023.