Crest Builder wins RM18.36m arbitration award in payment dispute

• It added that the tribunal rejected the RM94.67 million sought by Saujana against CBSB in the main claim.

KUALA LUMPUR (June 6): Crest Builder Holdings Bhd said an arbitration tribunal has awarded its subsidiary RM18.36 million in relation to its RM31.08 million counterclaim against Saujana Triangle Sdn Bhd in a payment dispute.

The money was awarded to Crest Builder Sdn Bhd (CBSB) for certified sums, costs of idling and dayworks and retention sum, said Crest Builder in a bourse filing.

It added that the tribunal rejected the RM94.67 million sought by Saujana against CBSB in the main claim.

Saujana, a subsidiary of M K Land Holdings Bhd, was also ordered to bear CBSB's cost of the arbitration totalling RM2.13 million, and pay for the costs of the award.

According to Crest Builders's 2022 annual report, the dispute involved Saujana’s failure to make payment to CBSB which was employed as its main contractor in September 2011.

The main claim by Saujana included liquidated damages of RM6.58 million.