KKB's unit wins RM49.8mil arbitration against Shapadu Energy Services
KUALA LUMPUR: OceanMight Sdn Bhd, a subsidiary of KKB Engineering Bhd, has successfully secured a nearly RM49.8 million arbitration award against Shapadu Energy Services Sdn Bhd (SES), concluding a corporate dispute that first came to light in late 2023.
In a market filing today, OceanMight's parent KKB announced that its solicitors confirmed the receipt of the Final Arbitral Awards on Oct 21. The tribunal ruled in OceanMight's favor, ordering SES to pay a total combined sum of RM49.78 million.
The tribunal's decision, dated Oct 12, also carries a mandatory interest penalty. SES is required to pay a five per cent annual interest on the principal sum, calculated from the date of the award until the settlement is completed in full.
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This is a brief of a report by another newsroom. The excerpt below is from the original.
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About this story
- Source
- New Straits Times
- Originally published
- Oct 26, 2026
- Updated here
- Oct 26, 2026
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- Malaysia Times desk (brief) — reporting by the source
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