KUALA LUMPUR: A Bumiputra company has filed a RM131.9mil lawsuit against Bank Negara Malaysia for damages and outstanding payment over the construction of its financial services resource centre here.
Source from (The Star Online): http://thestar.com.my/news/story.asp?file=/2012/7/1/nation/20120701193627&sec=nation
Published: July 02, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/hni/Article/
Published: July 04, 2012
H&I Niaga Sdn Bhd, a Class A Bumiputra contractor who was awarded the RM320.3mil contract in September 2005, claimed that their contract was wrongfully terminated after the work was 97% completed.
At a press conference on Sunday, the construction company's managing director Datuk Ismail Mohd Hashim and executive director Amerudin Ismail claimed that the non-payment of money allegedly owed could result in the winding-up of the company and them being declared bankrupt.
They are seeking to claim RM81.9mil in outstanding payment including costs for project delays, retention sum and out-of-pocket expenses and RM50mil for financial and reputational damages to the 14-year-old company.
They claimed to have invested almost RM16mil of their own money into the project.
BNM terminated their contract in April 2010 and appointed another to complete the project, Amerudin said.
Amerudin said the termination was allegedly for the progress and milestones of the building's facade which he claimed was the responsibility of a sub-contractor.
Ismail said the company had met their milestones, adding that they had lodged a police report and complaint with the Malaysian Anti-Corruption Commission on June 27.
DAP's publicity secretary and Petaling Jaya Utara MP Tony Pua, who was also present, said the company had no choice but to initiate a legal suit against BNM as it has exhausted all means to settle the matter in an amicable manner, including a failed arbitration process.
“We call on BNM to negotiate a fair settlement for outstanding sums due. The dispute has caused a complete collapse of H&I,” he said.
The suit was filed on June 20. The case is set for mention on July 4, he said.
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