Towards Financial Freedom

Kingsmen Creatives (S$0.880) Dispute resolved

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Publish date: Thu, 11 Apr 2013, 10:02 AM
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Kingsmen Creatives said that its subsidiary Kingsmen Exhibits has resolved a dispute with Chasen Holdings' subsidiary Hup Lian Engineering. Hup Lian had sought to claim as much as $10.39mil but Kingsmen Exhibits settled for a fraction of the sum, not exceeding $1mil. The sum had been fully provided for in the company's financial statements as at Dec 31, 2012, so it will not have a material impact on earnings orNTA pershare this year.

Source: The Business Times / Bloomberg / Straits Times
KingsmenCreative (5MZ)
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