Wednesday, July 28, 2010

BSTEAD - Boustead Holdings Berhad - Litigation against subsidiary company

Maraputra S/B (Maraputra) has filed a writ of summons against the company's subsidiary, Boustead Naval Shipyard S/B(BNS) for damages arising from a contract dispute. Maraputra is claiming for damages totalling RM10.37 mln plus interest at 8% p.a. and other relief that the high court deems fit. BNS is disputing the amount claimed and is currently preparing a statement of defence and counter-claim against Maraputra.

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