19 Mar '11, 10am

ST Engineering says customer cancels $141 mln shipbuilding deal: SINGAPORE, March 19 (Reuters) - Singapore Techn...

SINGAPORE , March 19 (Reuters) - Singapore Technologies Engineering , a defence contractor and aircraft maintenance firm, said on Saturday a customer has terminated a shipbuilding contract worth S$179 million ($141 million). Louis Dreyfus Armateurs (LDA) in its notice alleged that there is a delay in the delivery of the vessel and that even if the vessel is tendered for delivery there will be deficiency in the deadweight capacity, ST Engineering said in a statement. If the cancellation of the deal to build a roll-on/roll-off passenger ferry for LDA is valid, ST Engineering's ST Marine unit will have to repay S$129 million in milestone payments received so far plus interest. The unit may also be liable for damages capped at 10 percent of the contract price. ST Marine has referred the matter to its legal advisers, the statement said. ($1 = 1.273 Singapore Dollars ) (Reportin...

Full article: http://sg.news.yahoo.com/st-engineering-says-customer-can...

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[ST] Will you eat with your neighbours?

[ST] Will you eat with your neighbours?

straitstimes.com 18 Mar '11, 3am

Dr Maliki (above) hopes that residents can understand and realise that their neighbours are the first call of help during ...