{
  "id": 9527160,
  "title": "Emrail loses RM59m LRT3 bond suit, ordered to pay Kuwait Finance House RM39m",
  "url": "https://urgent.news/2026/09/24/emrail-loses-rm59m-lrt3-bond-suit-ordered-to-pay-kuwait-finance-house",
  "topic": "world",
  "section": "World",
  "published": "2026-09-24T09:05:32.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/malaysia/2026/09/24/emrail-loses-rm59m-lrt3-bond-suit-ordered-to-pay-kuwait-finance-house-rm39m/236368"
  },
  "original_language": "en",
  "account": "A High Court in Kuala Lumpur has dismissed a lawsuit filed by rail contractor Emrail Sdn Bhd against Kuwait Finance House (KFH) for a disputed performance bond of RM59.1 million. The court also ordered Emrail and three personal guarantors, Zaki Azmi, Hari Narayanan Govindasamy, and Amrish, to pay KFH RM39.09 million. The judge, Quay Chew Soon, deemed KFH's counterclaim in full and found Emrail and its guarantors jointly and severally liable for the outstanding debt. The central issue was whether KFH was contractually obligated to issue a performance bond conforming to a template prescribed by the project delivery partner, MRCB George Kent Sdn Bhd. The court ruled that the financing agreement specified the bond must be in a form acceptable to KFH, and Emrail could not enforce its independent contract with MRCBGK against KFH. The court rejected Emrail's claim that KFH's failure to issue a compliant bond caused RM59.1 million in withheld project payments, stating that negligence claims cannot be used to negotiate a more favorable commercial deal. The financing facility reportedly expired on October 31, 2021, leaving KFH with an outstanding debt of RM39,089,705.42 as of May 16, 2025. Emrail and the guarantors have been given one month to settle the debt, including post-judgment interest at 5% per annum from the judgment date until full payment, with KFH also awarded RM100,000 in legal costs.",
  "summary": "KUALA LUMPUR, Sept 24 — In a double courtroom defeat for rail contractor Emrail Sdn Bhd, the High Court has dismis...",
  "key_points": [
    "Emrail loses RM59 million bond suit, ordered to pay KFH RM39 million",
    "High Court in Kuala Lumpur rules KFH's counterclaim in full",
    "Emrail and guarantors must settle RM39.09 million debt within one month"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Emrail loses RM59mil claim, must pay Kuwait Finance House RM39mil",
        "url": "https://urgent.news/2026/09/24/emrail-loses-rm59mil-claim-must-pay-kuwait-finance-house-rm39mil",
        "published": "2026-09-24T08:45:00.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "Emrail loses RM59m LRT3 bond suit, ordered to pay Kuwait Finance House RM39m",
        "url": "https://urgent.news/2026/09/24/emrail-loses-rm59m-lrt3-bond-suit-ordered-to-pay-kuwait-finance-house-9532667",
        "published": "2026-09-24T09:05:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}