AsiaPhos Limited (SG:5WV) has released an update.
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AsiaPhos Limited has successfully resolved a legal claim made by Sichuan Huahui Engineering Cost Consulting Co., Ltd. against its subsidiary regarding construction/project cost review fees. The settlement involved a payment of approximately S$80,000, with no significant impact anticipated on the company’s earnings per share or net tangible assets for the year. The case has been officially closed following the withdrawal of the arbitration notice by Deyang Arbitration Commission.
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