Introduction

[1] This case involves an application by the defendant for security for costs and payment into court of the arbitral sum awarded against the plaintiff following the latter's application to court for the setting aside of the arbitral award.

[2] At the conclusion of the hearing on 11 March 2016, I allowed the applications by the defendant. This judgment contains the full reasons for my decision.

Key Background Facts

[3] The defendant, as the claimant had initiated arbitration proceedings on 2 October 2012 under the Kuala Lumpur Regional Centre of Arbitration, ("KLRCA Arbitration") against the plaintiff respondent. The latter responded by filing a counterclaim against the defendant in the same KLRCA Arbitration.

[4] The defendant was successful in its application for security for costs where on 26 February 2013, the Arbitrator made an order that the plaintiff must provide security for the defendant claimant's costs in the amount