KNM

KNM Group Bhd’s wholly owned subsidiary, KNM Process Systems Sdn Bhd, has reached a full and final settlement with Kanadevia Corporation and its subsidiary, Alam Hzem Sdn Bhd, over a dispute relating to a solid waste treatment project in Negeri Sembilan.

The settlement concerns the engineering, procurement, construction and commissioning (EPCC) works for the solid waste modular advanced recovery and treatment systems waste management solutions (SMART WTE Systems) project at Ladang Tanah Merah.

Under the terms of the agreement, all parties have mutually agreed to release one another — including their respective subsidiaries and related companies — from any claims, obligations or liabilities, whether known or unknown, arising from the project.

KNM clarified that an earlier announcement dated July 25 had been released prior to obtaining the formal consent of all parties involved, as required by the agreement.

The company has since secured the necessary approvals as of July 30 and issued the clarification to regularise the matter.

“This settlement represents a clean break and allows all parties to move forward without any further claims or obligations arising from the project,” KNM said.

The SMART WTE Systems project was aimed at introducing modular, advanced waste treatment technology, but performance-related issues led to the dispute, which has now been amicably resolved. — TMR