BINA PURI ASSOCIATE WINS ARBITRATION CASE AGAINST PROLINTAS

KUALA LUMPUR: KL-Kuala Selangor Expressway Bhd (“LATAR”), an associate company  of Bina Puri Holdings Bhd (“Bina Puri”) wins an arbitration case against PROLINTAS, over  non-payment of monies to LATAR under the Co-ordination and Cost-sharing agreement. 

In a Bursa Malaysia filing today, Bina Puri said LATAR commenced arbitral proceedings on  July 19, 2019 against PROLINTAS at the Asian International Arbitration Centre. 

The arbitration tribunal ordered PROLINTAS to pay RM46,131,147.57 with interest to  LATAR in its judgment on Nov 7 this year. 

LATAR is the concessionaire for the 33km-long Kuala Lumpur – Kuala Selangor expressway  which was open to the public on June 23, 2011.  

PROLINTAS is an investment holding company that designs, builds, operates, and  maintains highways.