Malaysia Marine and Heavy Engineering Holdings Berhad (“MHB”)'s wholly-owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (“MMHE”) has entered into an agreement via a “Letter of Undertaking” with E. A Technique (M) Berhad ("EA Tech") for the settlement of the sums due under the Invoices and the Additional Work Orders (“AWOs”).
EATech had, via a Letter of Award dated 9 June 2015 appointed MMHE as the Main Contractor for refurbishment and conversion of donor vessel into a Floating, Storage and Offloading Facility for Full Development Project, North Malay Basin, hereinafter referred to as “the Contract”.
During the period of the Contract, MMHE issued an AWOs to EATech claiming payment for the work done. Disputes and differences have arisen between the parties in respect of the sum arrived under the Invoices and the AWOs, and now both parties seek to amicably resolve the matter.
EATech and MMHE had entered into an agreement via a Letter of Undertaking (“LOU”) on 22 June 2018 in their effort to settle the sums due under the Invoices and the AWOs. Under the LOU, it was agreed that EATech pay part of the amount due to MMHE and deliver certain security for the remaining amount due to MMHE. Both parties shall try to resolve the remaining disputed AWOs and attempt to reach a full and final settlement within 30 days from the sail away of the FSO or as otherwise mutually agreed.
In the event an agreement is not reached pursuant to the above, both Parties agreed to resolve their disputes by way of dispute resolution mechanism as provided for in the Contract.
In view of the amicable settlement between the parties, EATech and MMHE have agreed to withdraw/discharge their respective application at the High Court in respect to the EPCIC Contract as follows:
- Johor Bahru High Court Originating Summons No. JA-24NCVC-281-06/2018 Dated 19 June 2018
- Johor Bahru High Court Notices Of Application No. Wa-27ncc-18-05/2018 Dated 21 June 2018.
This announcement is dated 26 June 2018.
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发表于 23-5-2018 06:47 PM
发表于 27-6-2018 12:31 AM
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