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GRP Ltd. ( (SG:BLU) ) has provided an announcement.
GRP Limited has resolved a long-running legal dispute involving its subsidiary Ratus Nautika and contractor EESB through a settlement agreement tied to an affordable housing project. Under the deal, Ratus Nautika paid a settlement sum of RM4.425 million on top of an earlier adjudication amount, while EESB relinquished claims to a project retention sum of about RM3.72 million and agreed to bear half of the arbitration expenses.
Both parties have notified the arbitral tribunal of a full and final settlement, with the arbitration to be terminated without any admission of liability or right to refile. GRP said EESB will refrain from initiating further proceedings against the group or its professionals over the project and contract, and the company expects the settlement to have no material impact on its earnings per share or net tangible assets for the 2026 financial year.
More about GRP Ltd.
GRP Limited, incorporated in Singapore, operates as an investment holding company with a diversified portfolio through its subsidiaries. The group’s activities typically span industrial and commercial sectors in the region, with a focus on managing project-related and operational risks across its businesses.
Average Trading Volume: 101,605
Technical Sentiment Signal: Sell
Current Market Cap: S$8.11M
See more insights into BLU stock on TipRanks’ Stock Analysis page.