MBNS did not breach non-disclosure agreement terms, Tribunal rules

The Arbitral Tribunal has ruled that Astro Malaysia Holdings Bhd's wholly-owned unit, Measat Broadcast Network Systems Sdn Bhd (MBNS), did not breach the Mutual Non-Disclosure Agreement (MNDA) terms with AV Asia Sdn Bhd.

Astro in a statement today said the tribunal also dismissed AV Asia's counter-claim for RM300 million and ordered AV Asia to pay US$1.05 million in costs to MBNS.

The arbitration proceedings were in relation to AV Asia's allegation that MBNS had breached the MNDA terms dated Aug 1, 2008 in the manufacture and supply of satellite dishes.