Sammyboy RSS Feed
10-06-2015, 11:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
Singapore eDevelopment faces S$2.8m payment demand
http://www.businesstimes.com.sg/comp...nd-from-coface (http://www.businesstimes.com.sg/companies-markets/singapore-edevelopment-faces-s28m-payment-demand-from-coface)
Singapore eDevelopment Limited said it has been informed by insurer of a performance bond guaranteed by the group that HDB has demanded payment of S$2.8 million by insurer under the performance bond.
This performance bond was issued in relation to the building works at Jurong West Neighbourhood 2 Contract 19 undertaken by CCM Industrial Pte Ltd (CIPL), a previously wholly-owned unit that was disposed off in May last year. The demanded sum is a partial sum claimed against the guaranteed sum of S$3.41 million under the Jurong West Performance Bond. HDB has reserved its right to make further claims against its remaining balance.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?208434-HDB-demanded-S-2-8-million-under-the-performance-bond-for-Jurong-West-Neigbourhood-2&goto=newpost).
Singapore eDevelopment faces S$2.8m payment demand
http://www.businesstimes.com.sg/comp...nd-from-coface (http://www.businesstimes.com.sg/companies-markets/singapore-edevelopment-faces-s28m-payment-demand-from-coface)
Singapore eDevelopment Limited said it has been informed by insurer of a performance bond guaranteed by the group that HDB has demanded payment of S$2.8 million by insurer under the performance bond.
This performance bond was issued in relation to the building works at Jurong West Neighbourhood 2 Contract 19 undertaken by CCM Industrial Pte Ltd (CIPL), a previously wholly-owned unit that was disposed off in May last year. The demanded sum is a partial sum claimed against the guaranteed sum of S$3.41 million under the Jurong West Performance Bond. HDB has reserved its right to make further claims against its remaining balance.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?208434-HDB-demanded-S-2-8-million-under-the-performance-bond-for-Jurong-West-Neigbourhood-2&goto=newpost).