$MWIDE
🗓 Jan 27, 2026
📌 [Amend-1]Material Information/Transactions
🧾 Megawide Construction Corporation (the "Company") received a Request for Arbitration filed by HTLand, Inc. in connection to the construction of Mandani Bay Quay - Phase 2 Block 1.On 26 January 2026, the Company received a Notice of Award in relation to the arbitration proceedings filed by HTLand, Inc. in connection to the construction of Mandani Bay Quay - Phase 2 Block 1.
ℹ️ Megawide Construction Corporation ("MCC") received today, 13 November 2024, a Request for Arbitration filed by HTLand, Inc. ("HTLI") in connection with the All-Inclusive Construction Works Agreement dated 03 June 2019 for the construction of the project known as "Mandani Bay Quay - Phase 2 Block 1" at Mandani Bay Avenue cor. F. E. Zuellig Avenue, Mandaue City, Cebu. In the Request for Arbitration, the total sum in dispute claimed by HTLI against MCC is One Billion Two Hundred Ninety-Five Million Three Hundred Ninety-Three Thousand Six Hundred Forty-One Pesos and 5/100 (PHP1,295,393,641.05), excluding interest on all claims apart from the amount reconciled by MCC and HTLI. MCC will file its answer and counterclaims in due course.On 26 January 2026, the Company received today a Notice of Award dated 22 January 2026 in connection with the arbitration proceedings before the
CIAC.In the Final Award, the CIAC rendered a net award of Php 368,918,211.37 in favor of HTLI.The Company is currently evaluating the Final Award and will take such actions as may be appropriate under applicable laws and CIAC rules.
🔗 Link:
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