Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd ("SPYTL"), a wholly-owned subsidiary of the Company, has secured an arbitration award against TSR Bina Sdn Bhd ("TSR"), with the Tribunal ruling that SPYTL's termination of the subcontract was proper, lawful and valid.

In its Arbitral Award dated 15 September 2026, the Tribunal found that TSR had breached the subcontract and failed to execute the subcontract works with due diligence, care and expedition. The Tribunal held that TSR's claims were wholly misplaced and without merit.

The proceedings were commenced by TSR in August 2019, alleging that SPYTL had wrongfully terminated the subcontract.

The Tribunal further determined that SPYTL is entitled to payment of liquidated damages from TSR. It also ordered TSR to pay costs to SPYTL, including the costs of engaging SPYTL's expert and party-to-party legal costs.

After deduction of liquidated damages of RM2,170,000 and costs awarded of RM700,000, a net sum of RM2,256,660.76 is payable to TSR in respect of works completed prior to termination.