Reference is made to the announcements dated 4 July 2012, 6 July 2012, 9 July 2012, 24 September 2012, 12 April 2013, 3 May 2013 and 23 May 2013 in relation to the Termination of Sub-Contract by KKB Builders Sdn Bhd (“KKBB” or “Claimant”), a wholly-owned subsidiary of KKB Engineering Berhad, against Global Upline Sdn Bhd (“GUSB” or “Respondent”).

The Arbitral Tribunal had made, issued and published its Final Award dated 31st July 2018 and released by the Asian International Arbitration Centre (formerly known as Kuala Lumpur Regional Centre for Arbitration) on 6th August 2018.

The Board of Directors of KKB Engineering Berhad (“KKB”) wishes to inform that the Arbitral Tribunal Make, Issue and Publish its Final Award as follows:

1. That the Respondent shall forthwith pay to the Claimant the sum of RM7,153,214.81 (Ringgit Malaysia Seven Million One Hundred Fifty Three Thousand Two Hundred Fourteen And Eighty One Cents).

2. That the Respondent shall pay to the Claimant simple interest on the sum awarded at the rate of judgment rate per annum, from date of this award until the date of payment.

3. That the Respondent shall bear and pay its own costs in this reference and pay to the Claimant the costs of arbitration [to be assessed or taxed by this Tribunal, if not agreed] including the costs of the award [which the Centre will confirm with the Parties] PROVIDED ALWAYS that if, in the first instance, the Claimant has paid any part of the costs of the award, it shall be entitled to an immediate refund of the sum so paid.

 Further announcement, where necessary, on any material development will be made in due course.

This Announcement is dated 8th August 2018