Soilbuild flags Q4, FY loss on arbitration award against unit
The company has to recognise the S$1.4m sum, other associated project costs as additional cost of sales
Add BT as a preferred sourceSingapore
SOILBUILD Construction Group on Tuesday flagged that it would post a loss for its fourth quarter and financial year ended Dec 31, mainly due to an arbitration award on Feb 25, 2019, against its wholly-owned subsidiary, Soil-Build (Pte) Ltd.
The arbitration was commenced by Soil-Build against a sub-contractor for damages suffered due to the sub-contractor's delay in the completion of work for a construction project.
TRENDING NOW
GameStop CEO says eBay shut his account after buyout funding stunt
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Dim sum chain Tim Ho Wan ramps up North America, Hong Kong expansion after Jollibee acquisition
Amazon cuts Singapore workforce as it phases out local fulfilment including Amazon Fresh
