Wednesday, January 3, 2018

wah seong to pay dutch company......................

KUALA LUMPUR: Shares of Wah Seong

Corp Bhd declined 6% in early trade after the company announced that it would pay Dutch firm  £500,000 to settle dispute.

Wah Seong announced that it will pay Dutch pipe coating solutions fabricator and installer Bauhuis BV £500,000 (RM2.72mil) as part of a settlement agreement, bringing an end to arbitration proceedings in London between the two parties. 

The settlement follows an outstanding payment claim of €3.9 million by Bauhuis against Wah Seong’s indirect wholly-owned subsidiary Wasco Coatings HK Ltd.

No comments:

Post a Comment