Brief: Mary Chia Holdings updates on receipt of notice of arbitration
23/08/2016 23:55
Aug 24 (Reuters) - Mary Chia Holdings Ltd MARY.SI : * Sbh has initiated arbitration proceedings against mcbss on 19 August 2016 * As set out in notice of arbitration, sbh is claiming about s$4.81 million, excluding interest and cost * Says mcbss is of the view that the purported termination of the joint venture is not justified * Says purported claim against mcbss for alleged breaches of jv agreement has no merit and co will be seeking legal advice in this respect * Says financial impact of the purported termination of joint jv and of purported claim for alleged breaches of contract cannot yet be determined * Source text for Eikon ID:nSNZ5Lc3wP ((Further company coverage: MARY.SI )) ((Bangalore.newsroom@thomsonreuters.com))
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