CCM's Shenton Way contract terminated

CCM Group said that its wholly owned subsidiary, CCM Industrial Pte Ltd, had on Monday received a notice of termination of a Shenton Way contract. The notice, from 70 Shenton Pte Ltd, was on the grounds of alleged breaches of the contract. CCM Group said that the project relates to a contract worth $94.6 million which it announced in August 2012. It was for the proposed erection of a 32-storey commercial building at 70 Shenton Way (Eon Shenton). The company said that it was seeking legal advice and evaluating the financial impact, if any, of this development.

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