- CSE Global (SGX:544) said it agreed to an US$8m final settlement of all claims with a customer of its automation subsidiary Hankin for delays in contracted work. See CSE's announcement dated 09 Sep.
- - Read this at SGinvestors.io -
Delay in performance of contracted works
- Hankin was engaged by the claimant to perform certain engineering, materials procurement and installation services on a construction project in the US for which the Claimant was the general contractor. It alleged that it suffered losses due to Hankin’s delay in its contracted works.
- - Read this at SGinvestors.io -
- The claimant issued arbitration proceedings in the US on 3 Sep 2024 and on 8 Sep 2024, a full and final settlement of all claims for US$8m was reached, subject to the execution of a written settlement agreement and release by the parties. This payment will be reflected in CSE’s FY24E numbers.
Internal processes need improvement
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-09-10
Previous report by Maybank:
2024-09-08 CSE Global - Visit To Electrification Business In Houston.
Price targets by other brokers at CSE Global Target Prices.
Listing of research reports at CSE Global Analyst Reports.
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