<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 17): Destini Bhd (KL:DESTINI) said a Dutch shipbuilding company has commenced arbitration proceedings against the group and its subsidiary, claiming up to €3.03 million (RM15.45 million) over alleged unpaid invoices.</p></div>

<div class=newsTextDataWrapInner><p>Damen Shipyards Gorinchem BV filed the notices of arbitration against Destini and Destini Shipbuilding and Engineering Sdn Bhd (DSBE) with the Singapore International Arbitration Centre (SIAC) on May 13, said Destini in a bourse filing on Friday.</p></div>

<div class=newsTextDataWrapInner><p>It said the disputes arose from a material packages contract Damen entered into with DSBE in June 2017 and a subsequent corporate guarantee given by Destini.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Under SIAC rules, Destini and DSBE are both required to file a response with the arbitration centre within 14 days from receipt of the notices of arbitration.</p></div>

<div class=newsTextDataWrapInner><p>Destini said it will seek legal advice to dispute the reliefs claimed by Damen.</p></div>

<div class=newsTextDataWrapInner><p>"The respondents (Destini and DSBE) will dispute the reliefs claimed by the claimant (Damen) and will raise a response in the response to notices of arbitration that will be served in due course," Destini added.&nbsp;&nbsp;&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Destini’s shares closed up 0.5 sen or 20% to three sen on Friday for a market capitalisation of RM124.76 million.</p></div>


Destini Bhd (KL:DESTINI) said a Dutch shipbuilding company has commenced arbitration proceedings against the group and its subsidiary, claiming up to €3.03 million (RM15.45 million) over alleged unpaid invoices.

Dutch firm initiates arbitration against Destini over alleged unpaid invoices

South Africa’s governing African National Congress is set to cede its parliamentary majority for the first time after voters dealt a historic rebuke to the party Nelson Mandela led to power at the end of apartheid.

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Bitcoin blockchain’s reputation as a network that mainly supports digital gold may be changing as efforts gain traction to add new features via a software upgrade to its code.

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Thailand has announced new measures to facilitate tourism, allowing Malaysian tourists to enter without a visa or obtain a visa on arrival, with a stay of up to 60 days.

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Istanbul’s annual retail inflation accelerated to the highest level since December 2022, as price increases in Türkiye are expected to decline in the second half of the year after reaching a peak in May.

Istanbul city retail inflation hits highest since December 2022

Jakel Group is partnering with PiDC Holding Bhd to build a 51MW data centre in Cyberjaya worth RM1.2 billion.

In a statement on Saturday, Jakel said it is taking up a 40% stake in the project, Pi Data Centre Sdn Bhd, while the remaining 60% is held by PiDC.

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Indians voted in searing summer heat on Saturday in the final phase of the world's biggest election, as Prime Minister Narendra Modi seeks a rare third term in a poll focussed on inequality and religion.

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S&P Global Ratings downgraded France, tarnishing President Emmanuel Macron’s record for debt management as his government struggles to get a grip on public finances in the wake of the Covid pandemic and energy crisis.

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Youth and Sports Minister Hannah Yeoh has welcomed the Malaysian Anti-Corruption Commission (MACC) probe into the Selangor demand responsive transit (DRT) proof of concept.

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The Works Ministry will request an allocation of around RM1 billion to maintain and upgrade the 'redline' alignment along the Sarawak Pan Borneo Highway (LPB) project, said its Minister Datuk Seri Alexander Nanta Linggi.

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Japanese billionaire Yusaku Maezawa cancelled his "dearMoon" mission, which the project said was to have been the first private flight around the moon, the mission announced on Saturday.

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<p>Jakel Group is partnering with PiDC Holding Bhd to build a 51MW data centre in Cyberjaya worth RM1.2 billion.</p>

<p>In a statement on Saturday, Jakel said it is taking up a 40% stake in the project, Pi Data Centre Sdn Bhd, while the remaining 60% is held by PiDC.</p>


<p>S&amp;P Global Ratings downgraded France, tarnishing President Emmanuel Macron’s record for debt management as his government struggles to get a grip on public finances in the wake of the Covid pandemic and energy crisis.</p>


<p>Thailand has announced new measures to facilitate tourism, allowing Malaysian tourists to enter without a visa or obtain a visa on arrival, with a stay of up to 60 days.</p>


<p>Youth and Sports Minister Hannah Yeoh has welcomed the Malaysian Anti-Corruption Commission (MACC) probe into the Selangor demand responsive transit (DRT) proof of concept.</p>


<p>The Works Ministry will request an allocation of around RM1 billion to maintain and upgrade the 'redline' alignment along the Sarawak Pan Borneo Highway (LPB) project, said its Minister Datuk Seri Alexander Nanta Linggi.</p>


<p>Bitcoin blockchain’s reputation as a network that mainly supports digital gold may be changing as efforts gain traction to add new features via a software upgrade to its code.</p>


<p>China's first food security law aimed at achieving "absolute self-sufficiency" in staple grains came into effect on Saturday, reinforcing efforts by the world's biggest agriculture importer to lower its reliance on overseas purchases.</p>


China food security law comes into force, aims for absolute self-sufficiency

<p>Japanese billionaire Yusaku Maezawa cancelled his "dearMoon" mission, which the project said was to have been the first private flight around the moon, the mission announced on Saturday.</p>


<p>South Korea’s export growth continued last month, led by demand for semiconductors, boosting the country’s trade balance to the biggest surplus since 2020 and supporting optimism among policymakers for better-than-expected economic expansion this year.</p>


South Korea’s chip exports lead trade gains fuelling economy

<p>Microsoft is close to reaching a multimillion-euro deal with an Amazon-backed cloud lobby to get it to drop an antitrust complaint with the European Commission, <em>Politico </em>reported on Saturday.</p>


Microsoft to pay off cloud industry group to end EU antitrust complaint, Politico reports

<p>South Africa’s governing African National Congress is set to cede its parliamentary majority for the first time after voters dealt a historic rebuke to the party Nelson Mandela led to power at the end of apartheid.</p>


<p>Istanbul’s annual retail inflation accelerated to the highest level since December 2022, as price increases in Türkiye are expected to decline in the second half of the year after reaching a peak in May.</p>
