Sudan’s government confiscated Petronas’s assets on the grounds that they were acquired "through illegal means" during Omar al-Bashir’s regime. Some argue that Sudan is turning on its allies "under the pretext of fighting corruption".
PETROLIAM Nasional Bhd (Petronas) has led a request for arbitration at the International Centre for Settlement of Dispute in the absence of positive development on Sudan’s transitional government’s decision to confiscate the company’s assets in Khartoum, Sudan.
It is now abundantly clear that the CPTPP has not only proved irrelevant in the face trade protectionism but would actually strengthen IPRs, raising the costs of Covid-19 tests, treatments and vaccines.
Berjaya is to receive US$104.3 million and to withdraw the notice of intent that it submitted to seek investor-state dispute settlement arbitration for a sum of US$3.42 billion.
KLS Energy Lanka, the local subsidiary of Malaysian renewable energy producer Energy Sdn Bhd of Malaysia has initiated ICSID arbitration under the Sri Lanka-Malaysia BIT
Malaysia should review bilateral investment treaties to see if it is fair to remain in these trade agreements as some contain clauses that are seen to be biased to investors, said Third World Network adviser Martin Khor.
The Malaysian government could be sued by foreign corporations if it intervened in their business activities under the Trans-Pacific Partnership (TPP) agreement.