Grange Properties suit settled

The terms of the settlement agreement however are confidential.

The Board of Directors of Chip Eng Seng Corporation Ltd made an announcement with regard to the Writ of Summons issued against Grange Properties Pte Ltd, an associated company of Chip Eng Seng, in Suit No. 498 of 2011/S commenced in the High Court of Singapore in relation to the development known as Grange Infinite.

Parties to the suit have reached a full and final settlement on all matters relating to the suit and entered into a settlement agreement on 2 October 2012.

The settlement is not expected to have any material impact on the net tangible assets and earnings per share of the Group for the current financial year ending 31 December 2012.