Bina Puri's associate wins RM46 mil in arbitration case against Prolintas

• According to bourse filing, Bina Puri said it received the final award of the arbitral tribunal judgment on Nov 7, which ordered Prolintas to pay the sum with interest to Latar.

KUALA LUMPUR (Nov 14): Bina Puri Holdings Bhd (KL:BPURI) said on Thursday that its associate company KL-Kuala Selangor Expressway Bhd (Latar) has won an arbitration case against Prolintas Expressway Sdn Bhd and was awarded RM46.13 million.

According to bourse filing, Bina Puri said it received the final award of the arbitral tribunal judgment on Nov 7, which ordered Prolintas to pay the sum with interest to Latar.

Bina Puri filed the arbitral proceedings at the Asian International Arbitration Centre on July 19, 2019 after Prolintas refused to pay or reimburse Latar under a coordination and cost-sharing agreement entered into between the two parties.

Latar shall apply to enforce the arbitration award and the necessary announcement will be made in due course, it said.

Shares of Bina Puri closed half a sen or 1.6% lower at 30 sen, giving it a market capitalisation of RM202 million.

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