Bursa Malaysia Stock Watch

Tanjung Offshore served with notice of claim for US$15.9m

kltrader
Publish date: Fri, 08 Oct 2010, 10:41 PM
kltrader
0 20,411
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.

KUALA LUMPUR: TANJUNG OFFSHORE BHD []'s unit Tanjung Kapal Services Sdn Bhd has been served with a notice of claim from Newfield Peninsula Malaysia Inc amounting to US$15.90 million.


It said on Friday, Oct 8 the notice of claim was for damages to pipeline allegedly caused by one of Tanjung Kapal's vessels at the East Belumut Field, PM 323, offshore Malaysia


"The said notice of claim amounted to approximately USD15.90 million and includes mainly costs associated with the repair and clean up of the alleged damage to pipeline," it said.


Tanjung Offshore said its unit's insurers had been notified of Newfield's claim and had initiated a review of the claim and to look into  the allegation against the affected vessel.


It added if the allegation was true, it was confident the claim would be settled amicably between Newfield and Tanjung.

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment