Mudajaya expects 2016 earnings to be impacted by KLRCA decision

KUALA LUMPUR: Mudajaya Group Bhd, currently on an adjudication claim to seek more than RM175 million from CMC Machipex Sdn Bhd, expects the Kuala Lumpur Regional Centre For Arbitration (KLRCA) decision to have a negative impact of RM98.35 million on the group’s earnings. In a statement to Bursa Malaysia, the construction and property development group said it had sought payment claims for work done totalling RM175.33 million (principal sum) plus late payment interest and cost from CMC in a