Singapore Stock Market News
Hi-P International - Starts Arbitration Proceedings
StockFanatic
Publish date: Tue, 25 Aug 2015, 12:17 PM
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Hi-P has commenced arbitration proceedings against Yota Devices Ltd for claims of approximately USD126m, mainly on finished goods in Hi-P Electronics' hands. The claim is mainly for the failure to take delivery of and make payment for the full minimum order quantity and firm forecast committed to by Yota for the Yotaphone 2. The stock is now UNDER REVIEW, while we await further information/clarification from its management.
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