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CSC Holdings being sued for S$7.7m

GROUND engineering specialist CSC Holdings said that subsidiary L&M Foundation Specialist Pte Ltd (LMFS) is being sued by main contractor SEF Construction Pte Ltd for alleged backcharges and damages amounting to S$7.7 million.

LMFS's contract with SEF for foundation works was for less than S$8 million, CSC said. It said there are no merits to the claims and is in the process of seeking legal advice.

"LMFS intends to vigorously defend its position against these alleged claims and is also looking to advance a counter claim to recover long outstanding debts due from SEF," it said.

CSC last traded unchanged at S$0.027.

sentifi.com

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