KNM Group Berhad announced that its wholly-owned subsidiary, KNM Process Systems Sdn Bhd has reached a full and final settlement with Cypark Berhad, regarding a dispute over an Engineering, Procurement, Construction, and Commissioning (EPCC) Works for the Solid Waste Modular Advanced Recovery and Treatment Systems Waste Management Solutions project at Ladang Tanah Merah, Negeri Sembilan, Malaysia.

During the dispute, it was reported Cypark asserted claims amounting to RM109.9 million for liquidated ascertained damages (LAD), RM75.2 million for outstanding work completion costs, and an unquantified claim related to defective works rendered by KNMPS. The parties said following extensive negotiation between both have reached an amicable settlement with a final agreed amount of RM13.2 million.