By DayakDaily Team
KUCHING, June 29: The arbitration involving the termination of a joint venture agreement dated Sept 20, 1994 (JVA) between the Land Custody and Development Authority (LCDA) and Country Heights Holdings Bhd (CHHB) is unrelated to the forfeiture of land and therefore does not involve the Sarawak government.
In a press statement today, LCDA’s corporate affairs division clarified that the Sarawak government is not a party to the arbitration.
The statement highlighted that the land forfeiture by the Sarawak government had been legally contested by CHHB and its subsidiary Borneo Heights Sdn Bhd (BHSB) up to the Federal Court, where they failed.
“Accordingly, this matter of forfeiture of land has been finally decided by the Federal Court.
“The land is now State land and under the control of the Sarawak government,” it said.
LCDA was responding to CHHB’s statement regarding certain factual errors that stated it decided to seek arbitration in Singapore over the forfeiture of its subsidiary BHSB’s land by the Sarawak government as has been reported in the press.
It added that the matter of forfeiture of land and the issue of compensation for the forfeited land, do not arise and is not a matter to be decided in the arbitration. — DayakDaily
