You are here
Hyflux's Oman subsidiary faces arbitration suit by sub-contractor
A SUB-CONTRACTOR of Hyflux's indirect wholly-owned subsidiary in Oman has filed an arbitration suit against the firm.
Al Mawakab National Trading and Contracting LLC (MNT) is seeking claims against Hyflux EPL LLC in connection with three sub-contracts for bore piling, civil and structural, and architectural works at the Qurayyat Independent Water Project in Qurayyat, Sultanate of Oman.
Hyflux said MNT's claims are without basis, and that the arbitration was not filed in accordance with the terms of its agreements.
It is currently seeking legal advice in Oman, and "will take all necessary steps to resist and defend" against the claims.
The group also said it doesn't expect the arbitration to have a material adverse impact on its operations and financial performance.