Sembcorp Marine files appeal in case against PPL Holdings

Over a month after the release of the High Court’s decision, Sembcorp Marine has filed an appeal in hopes of overturning the unfavourable outcome.

Sembcorp Marine is appealing against those parts of the High Court's decision which relate to:

(i) whether the Joint Venture Agreement between the Company and PPL Holdings is premised on equal shareholding and continues to apply in its entirety despite the Company's ownership in PPL Shipyard Pte Ltd being raised from 50% to 85%;

(ii) whether the Company was entitled to terminate the Joint Venture Agreement due to a breach by PPL Holdings; and

(iii) certain resolutions and orders which are consequential on the findings relating to (i) and (ii).

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