NTSJ was terminated by Investasia, the GSH subsidiary that owns the project, on April 13.
On June 7, Investasia received a notice of arbitration from NTSJ claiming RM129.1 million and declaration from Investasia for wrongful termination.
The following day, Investasia issued its own claim of RM124. 8 million against NTSJ.
According to GSH, Investasia will contest NTSJ’s claims while it appoints another main contractor.
See also: Mooreast forms partnerships with Norwegian and Korean firms
GSH shares closed June 8 at 17 cents, down 2.37% for the day and down 2.94% year to date.
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