February 22, 2018
KLRCA Announces Record High Numbers for 2017, Set to Continue Providing Essential ADR Solutions to the World as AIAC
The Kuala Lumpur Regional Centre for Arbitration (KLRCA) is pleased to announce the official release of its 2017 Annual Report.
This report being the last edition published under the KLRCA brand, is the culmination of years of dedication, perseverance and hard work that has set the Centre on the path of becoming the global hub for Alternative Dispute Resolution (ADR) as the Asian International Arbitration Centre (AIAC), effective 28th February 2018.
2017 was the year that further saw the Centre break barriers, implement innovations and transform itself from an ADR centre to playing a pivotal role in dispute avoidance and holistic dispute management.
Retaining the Centre’s commitment to strategic partnerships and inclusive growth, the KLRCA (soon to be AIAC) created 13 new strategic partnerships and had a fulfilling and fruitful year.
Some of the hallmarks from 2017:
- Successfully handled a record high 932 ADR cases (Increase of 100% in international arbitration cases compared to 2016)
- Conducted 80 capacity building events on various topics
- Increased panellists to 2,069 from 75 countries with varied expertise
- Forayed into dispute avoidance by becoming the 1st arbitral institution in the world to issue a suite of Standard Form Contracts
- Organised the KLIAW Arbitration Week with 65 distinguished speakers and 200 local and international delegates with simultaneous translation in Mandarin
- Became the 1st institution to be appointed as the independent authority to resolve disputes at the 2017 Kuala Lumpur SEA Games
Further details of KLRCA’s landmark case numbers and thriving capacity building initiatives are available in the 2017 Annual Report.
Datuk Professor Sundra Rajoo, Director of the KLRCA (soon to be AIAC) said, “As 2018 marks the 40th year of the KLRCA’s existence, its standing as a globally recognised innovative ADR hub necessitates the rebranding to the AIAC. The new name was decided after careful consideration and with the Centre’s Asia-centric DNA in mind to project Malaysia as the centre of global commerce and to attract investment via the many blossoming trade partnerships that include the Belt Road and Asean ecomonies to name a few.”
In heralding the release of KLRCA’s 2017 Annual Report and paying tribute to the Centre’s stakeholders, the Director further commented, “Before considering what the future holds for the KLRCA, it is important to consider what 2017 has meant for the KLRCA. I am proud to say that 2017 was a year of great achievement and innovation for the KLRCA and would like to dedicate this year’s annual report and the milestones contained therein to our stakeholders for without your continued support, no past or future achievement is possible.’
For more information, please contact:
Kuala Lumpur Regional Centre for Arbitration (Soon to be AIAC)
T: +603 2271 1000