Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tiong Seng Holdings Limited ( (SG:BFI) ) just unveiled an update.
Tiong Seng Holdings Limited announced that a winding up petition filed against its Malaysian subsidiary, Robin Village Sdn. Bhd. (RVSB), by former subcontractor Prima Precast Sdn. Bhd. has been withdrawn. The petition stemmed from a dispute over unpaid certified works and concrete supplied. An interim award of approximately RM1.3 million was granted to Prima Precast, but RVSB’s legal advisers noted it is not a final determination. RVSB has initiated a civil suit against Prima Precast seeking damages over RM 3 million for various claims. The legal proceedings, including a stay application for the interim award, are ongoing, potentially impacting the company’s operations and financial obligations.
More about Tiong Seng Holdings Limited
Tiong Seng Holdings Limited, incorporated in Singapore, operates in the construction industry, focusing on the manufacturing and supply of precast and prefabrication construction components through its subsidiary Robin Village Sdn. Bhd. (RVSB) in Malaysia.
Average Trading Volume: 251,917
Technical Sentiment Signal: Hold
Current Market Cap: S$44.26M
For detailed information about BFI stock, go to TipRanks’ Stock Analysis page.