PACC Offshore Services hit by additional S$24.5m claim over failed property purchase

Singapore

OFFSHORE marine services provider PACC Offshore Services Holdings is taking legal advice over an additional S$24.5 million in legal claims in a tussle concerning a property that it failed to acquire. The property is now in the process of being sold to another party.

Together with the previous claim of S$6.019 million, the new amount is S$30.519 million. It represents about 5.91 per cent of PACC's audited net loss after tax for the financial year ended Dec 31, 2016.