Corporate digest

Rich Capital

OXLEY Karya Indo Batam (OKIB), a joint-venture vehicle linked to Rich Capital, has received a notice of default from the main contractor of the Oxley Convention Centre development project in Batam, Indonesia.

The contractor, Rich-Link Konstruksi (RLK), is alleging that OKIB breached contract terms by not making payments for the project amid certified progress payments of 32.7 billion rupiah (S$3.2 million), Rich Capital said in a bourse filing on Wednesday.