Sembcorp Marine is considering the possibility of appealing a decision by the Singapore High Court regarding its legal tussle with PPL Holdings, Seatrade Asia Online reports.
The Singapore-listed company said that the “decision is not favourable to Sembcorp Marine.”
“The company is obtaining legal advice with a view of appealing the decision and will make the appropriate announcement in due course,” Sembcorp Marine said in a statement.
The legal suit with PPL started in 2010 over the sale of a stake in a shipyard. The stake was instead bought over by a consortium led by Yangzijiang Shipbuilding.
Yangzijiang and a Middle East investor offered Baker Tech $155m for PPL, which owned a 15% stake in PPL Shipyard.
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