KUALA LUMPUR (May 21): Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) has secured an injunction against a notice of arbitration issued by its subcontractor in relation to a dispute under a subcontract for the Bokor Phase 3 redevelopment project in Sarawak.

In a bourse filing on Wednesday, MHB said the High Court in Johor Bahru granted the ex-parte injunction in favour of MHB’s wholly-owned unit, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE). 

The court order restrains the subcontractor, Haumea Offshore Sdn Bhd (formerly known as Trans Fame Offshore Sdn Bhd), from commencing any arbitration connected to the arbitration notice.

MHB said it will continue to explore all available legal options, including challenging the validity of the arbitration notice and undertaking any further legal proceeding deemed necessary to protect its interests.

According to MHB's earlier filing on April 21, Haumea Offshore, in the arbitration notice against MMHE, sought RM57.3 million in claims, including interest and legal costs, citing issues with the execution of its scope of work under the subcontract.

Haumea Offshore was engaged by MMHE to perform hook-up and commissioning works, including the provision of marine vessels, for Package A of the Bokor Phase 3 project. The value and award date of the subcontract were not disclosed.

The Bokor Phase 3 central processing platform contract, valued at RM1 billion, was awarded to MMHE by Petronas Carigali Sdn Bhd in April 2017.

MHB shares closed half a sen or 1.3% higher at 38 sen on Wednesday, valuing the group at RM608 million. Year to date, the stock has retreated 1.3%.