KUALA LUMPUR, July 31 — The Appeals Court has ruled for Tenaga Nasional Berhad in a claim against the national energy supplier by Irham Niaga Sdn Bhd (INSB) and Irham Niaga Logistik Sdn Bhd (INLSB), TNB said in a statement today.
The Appeals Court set aside a High Court decision handed down on July 25, TNB said in its statement.
INSB and INLSB had made a claim for RM112,991,421.84 against TNB, with costs of RM200,000, acccording to TNB.
TNB in its statement said TNB had made a payment of RM162,632,307.75, including interest at 5 per cent from April 2004 to January 10, 2013, into a joint account of TNB, INSB and INLSB following a notice of demand from INSB and INLSB.
TNB said the payment was made after the decision by the Kuala Lumpur High Court on September 20, 2012.
The High Court decision allowed INSB and INSLB to lift the corporate veil on TNB following arbitration between INSB and INSLB and TNB Transmission Network Sdn Bhd (TNBT), a wholly-owned subsidiary of TNB.
It involved the termination of a rental agreement by TNBT.
TNB in its statement said INSB and INLSB had a month to appeal against the Appeals Court decision to the Federal Court. — Bernama
