Ocean Vantage Holdings Bhd (OVH) has obtained a High Court order to enforce an adjudication award against Petrofac Engineering Services (Malaysia) Sdn Bhd amounting to RM5.37 million, along with interest and related costs.
In a filing with Bursa Malaysia, the oil and gas services group said the order was granted at the end of last month, following an earlier adjudication decision by the Asian International Arbitration Centre (AIAC) in October 2025.
The claim arose from a civil works subcontract in Bintulu, Sarawak, which was awarded to OVH by Petrofac in 2022. According to previous filings, Petrofac had attempted to offset the payment against other sums.
Under the High Court judgment, Petrofac is required to pay OVH’s subsidiary, Ocean Vantage Engineering Sdn Bhd, the adjudicated sum of RM5.37 million, along with interest at 5% per annum, as well as adjudication-related fees and legal costs.
OVH said it is currently evaluating the appropriate enforcement actions to recover the awarded amount and protect the company’s interests.
Shares in OVH rose by half a sen to 17.5 sen, giving the group a market capitalisation of RM75.24 million.
