Published:
ST Engineering counters termination of contract
LDA's cancellation of contract is a breach so they are cancelling the Ropax contract on the basis of LDA's breach.
According to ST Engineering, ST Marine has reserved all its rights in the matter.
Arrangements have been made to effect payment under the Guarantees without prejudice to ST Marine's rights against LDA in relation to whether LDA properly terminated the Ropax Contract.
As previously stated in the Announcement, the termination of the Ropax Contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
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