QL Resources Berhad has formally concluded arbitration proceedings initiated by its wholly owned subsidiary, QL Oil Sdn Bhd (QLO), against Singapore-based Hang Ting Pte Ltd (HT) and Indonesia’s PT Pipit Citra Perkasa following the implementation of a settlement agreement.
The integrated agro-food group said QLO received a termination order from the tribunal at the Singapore International Arbitration Centre (SIAC) on 10 July 2026, officially bringing the arbitration to an end.
The arbitration, which commenced in 2023, has now been discontinued pursuant to the terms agreed under the settlement.
QL Resources did not disclose the terms of the settlement or any financial implications arising from the resolution.
The arbitration formed part of a wider legal dispute involving QL Resources’ Indonesian palm oil interests that has been ongoing for several years.
The company also referred to an ongoing Indonesian court case, known as Suit 982, involving PT Pipit Mutiara Indah, Chia Seong Fatt, and QL Mutiara (S) Pte Ltd as plaintiffs against PT Pipit Citra Perkasa, Juliet Kristianto Liu, and Kristianto Kandi Saputro.
Since late 2021, QL Resources has issued multiple announcements updating shareholders on developments relating to Suit 982, with the most recent updates released between March and May 2026.
