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SHS Holdings Ltd. ( (SG:566) ) just unveiled an update.
SHS Holdings Ltd. has announced that its subsidiary, Nanning Tidal Aluminium Co., Ltd., is embroiled in a legal dispute with a construction vendor in China over a contract valued at RMB 203 million. The vendor has ceased work and is seeking RMB 113.9 million in payments, which Nanning Tidal disputes as not yet due. SHS Holdings is considering a counterclaim for breach of contract due to the vendor’s suspension of work. The dispute, originating before the acquisition of Nanning Tidal, is not expected to materially impact the group’s net assets, although there is a risk of immediate payment if the defense fails.
More about SHS Holdings Ltd.
SHS Holdings Ltd., incorporated in Singapore, operates in the industrial sector with a focus on aluminum production through its subsidiary Nanning Tidal Aluminium Co., Ltd. The company is involved in construction and manufacturing activities, with a market focus on expanding its operations in China.
Average Trading Volume: 90,500
Technical Sentiment Signal: Sell
Current Market Cap: S$80.91M
For an in-depth examination of 566 stock, go to TipRanks’ Overview page.