AsiaPhos Limited (SG:5WV) has released an update.
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AsiaPhos Limited’s subsidiary, Sichuan Mianzhu Norwest Phosphate Chemical Co., Ltd., has received a Notice of Arbitration for a claim of approximately S$78,000 plus interest from Deyang Huahui Engineering Cost Consulting Co., Ltd. The claim pertains to project cost review fees and Mianzhu Norwest is currently seeking legal counsel to address the matter, with plans to either contest or amicably settle the claim. Shareholders and investors are cautioned to seek professional advice before trading as the financial impact on the Group is still undetermined.
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