Oxley terminates main contract for construction of Devonshire Residences
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
OXLEY Holdings Limited has terminated the main contract for the construction of its project, Devonshire Residences, with effect from Jan 6, "without prejudice to its other rights or remedies", it said on Wednesday.
"The main contractor, Admin Construction Pte Ltd, had been placed under creditors' voluntary winding up with effect from Jan 5," the group added.
The group has appointed another contractor to complete the construction of the project. This contract termination is not expected to have a material impact on the earnings per share or net tangible assets per share of the company for the current financial year ending June 30, 2015.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
