Malakoff Corporation Bhd said the General Electric entities involved in a long-running arbitration over the Prai Power Plant have withdrawn their third-party claim against the group.
The company said the withdrawal followed the issuance of a Partial Final Award in favour of Prai Power Sdn Bhd, a wholly owned subsidiary of Malakoff, in the arbitration before the Singapore International Arbitration Centre (SIAC).
The group said the GE entities confirmed on Aug 4 that they did not intend to pursue and had withdrawn Claim 2, formerly known as the “Third Party Claim”, following the expiry of 28 days from the tribunal’s determination of Claim 1.
The tribunal had issued the Partial Final Award on Claim 1 on July 6, 2026, which was subsequently registered as Award No. 110 of 2026 in the SIAC Registry of Awards.
Claim 1 was brought by Prai Power against GE Energy Parts Inc, GE Power Systems (Malaysia) Sdn Bhd, General Electric International Inc and General Electric Company in relation to the Prai Power Plant.
Claim 2 was subsequently brought by the GE entities against Malakoff Power Bhd and Malakoff Corporation Bhd.
Malakoff said the tribunal issued an Order of Termination dated Aug 19, 2026, under which Claim 2 is to be treated as withdrawn.
The termination was made with no liberty to file the claim afresh, while no relief, including costs, was awarded in relation to Claim 2.
The arbitration dates back to 2018 and relates to disputes concerning the Prai Power Plant. Malakoff had previously provided updates on the proceedings in a series of announcements, including its latest disclosure on July 7, 2026 regarding the Partial Final Award.
