23-06-2020, 08:45 AM
22 June 2020 Start of arbitration with AWILCO Keppel
https://links.sgx.com/FileOpen/KCL%20Ann...eID=619976
Since 9th June 2020 announcement wrt AWILCO purporting to terminate the contract, AWILCO has given further notice to terminate and exercising its right for the return of payments already made.
Keppel rejected AWILCO termination.
Since AWILCO failed to pay the installment due 9th June 2020, it will be dealt as default and according to contract, this will entitle Keppel to terminate the contract and retain all payments received.
Keppel had issued a notice of termination to AWILCO and commenced arbitration to enforce its rights against AWILCO.
Stay tune...
Stay home and stay healthy, valuebuddies.
https://links.sgx.com/FileOpen/KCL%20Ann...eID=619976
Since 9th June 2020 announcement wrt AWILCO purporting to terminate the contract, AWILCO has given further notice to terminate and exercising its right for the return of payments already made.
Keppel rejected AWILCO termination.
Since AWILCO failed to pay the installment due 9th June 2020, it will be dealt as default and according to contract, this will entitle Keppel to terminate the contract and retain all payments received.
Keppel had issued a notice of termination to AWILCO and commenced arbitration to enforce its rights against AWILCO.
Stay tune...
Stay home and stay healthy, valuebuddies.