KUALA LUMPUR (Aug 4): Zelan Bhd has revised upwards its claim against United Arab Emirates (UAE)-based Meena Holdings LLC to 555.9 million UAE dirham (RM647.5 million), from 452.75 million dirham previously.

In a filing to Bursa Malaysia today, Zelan said its wholly-owned subsidiary Zelan Holdings (M) Sdn Bhd has revised the amount of its claim against Meena as contained in its Statement of Case submitted to the Arbitral Tribunal.

Zelan said the increase in the amount is largely due to "various items of claims which have increased through effluxion of time" and also based on documents received subsequent to the compilation of the initial amount claimed. 

To recap, Zelan had in August last year initiated arbitration proceedings against Meena for alleged breach and defaults of contract for the Meena Plaza mixed-use development project in Abu Dhabi, UAE.

The International Court of Arbitration, International Chamber of Commerce, had accepted Zelan's request for arbitration against Meena.

Zelan shares closed unchanged at 13 sen today and for a market capitalisation of RM109.84 million.