- Seatrium faces arbitration from Keppel over a S$68.4m claim tied to Brazil’s Operation Car Wash, after reversing an earlier S$82.4m provision when its indemnity expired in Feb 25.
- - Read this at SGinvestors.io -
Dispute between two Temasek-linked companies.
- On 26 August, Seatrium announced that Keppel has launched arbitration proceedings against it for S$68.4m (US$53.3m), tied to Brazil’s Operation Car Wash.
- - Read this at SGinvestors.io -
- While Seatrium had announced in-principle settlement agreements with the Brazilian authorities on 26 Feb 24, no firm and signed agreements had occurred at that point in time. These agreements would only be completed and signed in Jul 25 and thus Seatrium’s view is that its obligation had expired at that point in time.
Provisions made but reversed.
- Read more at SGinvestors.io.
