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- “By reason of the breach of the master agreement by Vienna Advantage, Cahya Mata IT has suffered losses and damages.”
KUALA LUMPUR (Feb 4): Cahya Mata Sarawak Bhd (KL:CMSB) said its wholly owned unit Cahya Mata Intelligent Technologies Sdn Bhd has initiated arbitration proceedings against Vienna Advantage GmbH over a contract dispute.
The dispute pertains to Vienna Advantage’s alleged failure to supply and implement enterprise resource planning and related services agreed upon under various agreements inked between July 2019 and November 2023, according to CMSB’s bourse filing.
“By reason of the breach of the master agreement by Vienna Advantage, Cahya Mata IT has suffered losses and damages,” said the diversified group.
No further details of the contract nor Vienna Advantage were provided in the filing.
“The arbitration is not expected to have any potential business, financial or operational impact on CMSB,” said the company.
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