This is to notify that
1. Outline of Arbitration
(1) Place of Arbitration:
(2) Applicable law: Malaysian Law
(3) Date of Counterclaims by TTCL:
(4) Administered by
2. Counterparty
(1)
Address: 28th Floor,
North Klongtoey, Wattana,
Representative:
(2)
Address: Unit E-6-4 Megan Avenue1, 189 Jalan Tun Razak, 50400
Representative: Wanchai Ratinthorn, Director
3. Project outline
(1) Owner:
(2) Main Contractor: Toyo
(3) Sub-contractor: TTCL
(4) Construction site: Pengerang,
(5) Subject of Facility:
(6) Scope of sub-contractor's work: Engineering, Procurement and Construction work for Offsite
OSBL Facility for
4. Background of the Dispute
Toyo filed with ICC a Request for Arbitration on
5. Prospects
As mentioned above, the international arbitration was invoked by Toyo to recover Toyo's losses and damages arising from TTCL's abandonment and various breaches of contract. The counterclaims raised by TTCL are belated and without merit, with no contractual or legal basis and, supported by no facts. Therefore, the impact on our performance by TTCL's counterclaims is currently considered and assessed nil, and should any new circumstances arise that would affect the current assessment, they will be forthwith notified.
Contact:
T: +91-22-25422527
T: +91-22-25424368
(C) 2021 Electronic News Publishing, source