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Hyflux unit files arbitration notice over contract dispute
HYFLUX'S unit, Hydrochem, filed a notice with the Singapore International Arbitration Centre on Jan 2 to commence arbitration proceedings against Mitsubishi Heavy Industries Environmental & Chemical Engineering Co and Mitsubishi Heavy Industries Asia Pacific.
This is in relation to a dispute over a sub-contract for engineering, procurement, supervision of installation, testing and commissioning of a waste-to-energy plant dated May 12, 2016.
Hyflux said in an exchange filing on Friday that it does not expect the arbitration to have a material adverse effect on its operations and financial performance.