Brief: Pacific Radiance updates on arbitration related to two shipbuilding contracts

Pacific Radiance

13/06/2016 10:30

June 13 (Reuters) - Pacific Radiance Ltd  PACI.SI : 
 * Arbitration proceedings for the rescission of shipbuilding contracts for 
   platform supply vessels)  PACI.SI  
 * Arbitrations arising from two shipbuilding contracts entered with shipyards 
   for construction of two platform supply vessels 
 * Says arbitrations are not expected to have any material impact on EPS of 
   company for the current FY ending 31st December 2016 
 * Pacific crest pte. ltd claims refund of pre-delivery instalments paid to 
   shipyards for psvs, totalling US$10.6 million plus interest 
 * Pacific crest pte. ltd issued arbitrations against Shanghai waigaoqiao 
   shipbuilding & offshore and China shipbuilding trading (Shanghai) 
 
* Source text (http://bit.ly/1PWqy27) 
 
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