corporate

Awantec files appeal against RM231.5mil award for SKIN project termination

KUALA LUMPUR: Awanbiru Technology Bhd (Awantec) today announced that it has filed an appeal against the Kuala Lumpur High Court decision to award it RM231.5 million for the unilateral termination of Sistem Kawalan Imigresen Nasional (SKIN) project in 2019.

The award sum is about a third of the RM732 million claim it made against the government of Malaysia.

Awantec's unit Prestariang Skin Sdn Bhd (PSKIN) filed the appeal with the Court of Appeal today and is currently awating further direction from the Court.

Last month, the Kuala Lumpur High Court ordered the government of Malaysia to pay PSKIN a sum of RM231.5 milion, post-judgment interest of 5 per cent per annum of the judgment sum and costs of RM80,000, for the unilateral termination of SKIN project.

The company secured a 15-year concession on Aug 9, 2017 from the government to design, deliver, continuously maintain and provide scheduled upgrades for a new and much improved immigration and border control system for Jabatan Imigresen Malaysia.

It was to replace the existing Malaysian Immigration System (MyIMMS) but with added functionalities.

The government however, unilaterally terminated the concession agreement by way of expropriation, on Jan 22, 2019.

Awantec's share price closed 1.33 per cent higher at 38 sen, at midday break.

Most Popular
Related Article
Says Stories