Midas ordered to pay US$7.3m to CRRC
Add BT as a preferred sourceMIDAS Holdings has received a letter dated Aug 17 from CRRC (Hong Kong) Co and a copy of a final judgement filed on Aug 9 by Hong Kong's high court, the company said in a Singapore Exchange filing on Friday evening.
According to the judgement, Midas is to pay a sum of approximately US$7.3 million to CRRC.
Midas said: "The board will issue further announcements as appropriate, as and when there are any material developments in the matter."
Trading in Midas shares has been suspended since Feb 9 after several litigations, enforcement orders and court documents involving various subsidiaries and associate companies based in China were uncovered.
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature
