Corporate digest
Otto Marine
DIVERSIFIED offshore marine player Otto Marine said after Wednesday trading hours that it has started arbitration proceedings through its lawyers, Rajah & Tann Singapore LLP, against Robert Knutzen Shipholdings Ltd (RKSL) for alleged default on charter parties. RKSL allegedly took delivery of and operated two vessels under Otto Marine's fleet under bareboat charter parties dated Jan 15, 2009.
Otto Marine said RKSL has been in default of the charter parties for an aggregate principal outstanding sum of over US$2.83 million plus applicable interest for overdue payment.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Japanese companies struggle with yen’s continued weakness
Singapore stocks open stronger on Thursday; STI up 0.5%
DBS Q1 profit up 15% to S$2.95 billion; interim dividend at S$0.54 per share
Gold prices drift higher as Fed stands pat on key interest rate
US to probe GoPro claims Chinese firm violated its patents
Asia’s retail investors hunt for fabled crypto riches