Nexbis wins $15 mln payout over Maldives border control contract

Malaysian security firm Nexbis has won a USD15 million payout over the abrupt termination of a contract with the Maldives government to install and operate a border control system in the archipelago.

The disputed contract – signed under the government of former President Mohamed Nasheed in 2010 – was terminated in 2013 over fears it was causing 'losses' to the state.

Deputy Attorney General Ahmed Usham told Avas Tuesday that a Singapore based Arbitration Tribunal had ruled in favour of Nexbis but said the government was currently reviewing the decision.

The country's graft watchdog had flagged corruption in the contract with Nexbis before it was suddenly terminated.

The government had also lost an arbitration battle with India's GMR Group over the termination of a contract to develop and operate the country's main airport.

The government last month had settled the USD271 million payout to the the Indian infrastructure giant.