SHS Holdings (SGX:566) said its recently acquired subsidiary, Nanning Tidal Aluminium, is involved in a legal dispute in China with a construction vendor over alleged unpaid progress payments of 113.9 million yuan.
The vendor, who ceased work on the ongoing 203 million yuan project, initiated legal action, according to a Friday filing with the Singapore bourse.
SHS intends to contest the claim, citing a supplemental agreement, and is considering a counterclaim for breach of contract.
The dispute stems from events prior to the acquisition and is not expected to materially impact the group's net assets, said the company.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。