It says the government unilaterally terminated the concession agreement by way of expropriation, which took effect on Jan 22.
PSKIN had secured a 15-year concession to design, deliver, maintain and provide scheduled upgrades for a new immigration and border control system for the Immigration Department.
In a statement, it said the sum payable was calculated based on the contractual formula provided in the concession agreement which agreed to by the government. “As a last resort, the board of Prestariang is now fiducially obligated and compelled to litigate for its contractual payment,” it said. This would replace the existing Malaysian Immigration System , with added functionalities. Under the CA, PSKIN was to receive approximately RM3.5 billion over the 15-year concession period, subject to the entire capital expenditure being privately funded by PSKIN.
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