KUALA LUMPUR (Dec 23): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Dec 24) include: Tenaga Nasional Bhd, Malaysia Airports Holdings Bhd, Yi-Lai Bhd, Boustead Holdings Bhd, Jiankun International Bhd, Marine & General Bhd, Poh Huat Resources Holdings Bhd, and Hap Seng Consolidated Bhd.
Tenaga Nasional Bhd (TNB) has entered into a deal with
Malaysia Airports Holdings Bhd (MAHB) to supply cooling energy and electricity at the Kuala Lumpur International Airport for a period of 20 years. A joint venture firm between TNB s wholly-owned subsidiary TNB Engineering Corp Sdn Bhd and MAHB s wholly-owned unit Airport Ventures Sdn Bhd has been set up to undertake the project. The total project cost for the JV project is RM183 million and will be funded through a combination of external borrowings by the concessionaire and shareholders equity.
Introduction
The year 2019 witnessed a myriad of statutory adjudication disputes in Malaysia. The surge in the number of disputes involving the statutory adjudication mechanism in the Construction Industry Payment and Adjudication Act (CIPAA) 2012 also led to a significant number of consequential challenges to adjudication decisions in the courts. This article highlights the notable decisions handed down by the Malaysian courts in 2019 and their effect on the future application of the CIPAA.
Prospective effect of CIPAA
The following noteworthy appeals marked the beginning of a dramatic departure from the retrospective effect of the CIPAA observed since its enactment in April 2014:
Jack-In Pile (M) Sdn Bhd v Bauer (M) Sdn Bhd ([2020] 1 MLJ 174); and