Vibrant Group Ltd (SG:BIP) has released an update.
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Vibrant Group Limited’s subsidiary, Crystal Freight Services, is embroiled in a legal dispute with I-Land Industrial Park Holding over a debt recovery claim and a counterclaim regarding service-related issues. While Crystal Freight seeks to recover S$43,489.02 for services rendered, I-Land has countered for S$195,714.43 citing losses from late cargo delivery. The company has been advised the counterclaim has little merit and the outcome is not expected to materially impact Vibrant Group.
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