... This letter serves as a notice of dispute between Berjaya Land Berhad (BLB) and the Republic of Korea pursuant to Article 9 of the Malaysia-Korea BIT regarding BLB's investments related to the Project. BLB invites the Republic of Korea to engage in good faith negotiations to reach an amicable settlement with Korea within three months from the date of this letter.
It is our client's sincere wish that this matter be settled amicably. However, as our client is a publicly traded corporation and therefore obliged to act in the interests of its shareholders, if the parties are unable to reach an agreed resolution of the above-described dispute, BLB will have no alternative but to consider all available means of legal recourse to protect and preserve its interests, including binding international arbitration against the Republic of Korea before ICSID pursuant to Article 9 of the Malaysia-Korea BIT (as well as investor-State dispute settlement clauses in other Korean BITs available to BLB through Article 3 of the Malaysia-Korea BIT). ...