General Announcement::Receipt of Writ of Summons
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General Announcement::Receipt of Writ of Summons Issuer & Securities
Issuer/ Manager CSC HOLDINGS LIMITED Securities CSC HOLDINGS LTD - SG1F84861094 - C06 Stapled Security NoAnnouncement Details
Announcement Title General Announcement Date & Time of Broadcast 11-Aug-2016 18:34:05 Status New Announcement Sub Title Receipt of Writ of Summons Announcement Reference SG160811OTHR9U5X Submitted By (Co./ Ind. Name) Lee Quang Loong Designation Company Secretary Description (Please provide a detailed description of the event in the box below) Please refer to theattachment. AttachmentsReceipt of writ of summons.pdf Total size =23K
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11/8/2016
RECEIPT OF WRIT OF SUMMONSThe Board of Directors of CSC Holdings Limited (the "Company") wishes to announce that its wholly-owned subsidiary, CS Bored Pile System Pte Ltd ("CSBP"), has received a writ of summons on 10 August 2016, filed by China Construction (South Pacific) Development Co. Pte. Ltd. ("China Construction") in the High Court of the Republic of Singapore.
Pursuant to the Writ of Summons, China Construction is claiming, inter alia, damages in the sum of approximately $4.7 Million arising from and/or due to an alleged wrongful repudiation of a piling subcontract by CSBP.
CSBP is of the opinion that there are no merits to the claims and is in the process of seeking legal advice on this matter. CSBP intends to vigorously defend its position against the alleged claim and is also looking to advance a counter claim against China Construction for loss of profits.
The Company will make such further announcements as and when appropriate to keep shareholders informed on material developments in relation to this matter.
Shareholders are advised to exercise caution when dealing with the Company's securities. Shareholders should seek advice from their stockbrokers, bankers, solicitors, accountants, tax advisers or other professional advisers if they have any doubt about the action that they should take.
By Order of the Board
Lee Quang Loong Company Secretary
11 August 2016
CSC Holdings Ltd. published this content on 11 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 August 2016 01:12:05 UTC.
Original documenthttp://www.cschl.com.sg/newsroom/Receipt_of_writ_of_summons120816.pdf
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