Corporate digest

Sembcorp Marine

SEMBCORP Marine said on Tuesday that its unit PPL Shipyard will pursue its claim against Marco Polo Marine - the guarantor of a disputed rig-construction contract between PPL and Marco Polo Drilling (I) (MPD) - either by way of an appeal against the High Court's stay of action or through arbitration proceedings. On April 22, Marco Polo Marine was granted a stay of the entirety of the court proceedings instituted by PPL, in favour of arbitration. "The arbitration proceedings commenced by PPL against MPD will not be affected by the stay," said SembMarine.

QAF