Sembcorp Marine (SG:S51) has released an update.
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Sembcorp Marine has announced that an arbitration outcome requires its subsidiary, Jurong Shipyard, to pay MH Wirth $108 million in termination and ancillary fees, with additional interest to be calculated. This amount is within the provisions previously made by the company, with the impact to be reflected in the fiscal year 2024. The award concludes a dispute that began with arbitration proceedings in December 2021.
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