The original order was for two 500-men accommodation work barges, SK 316 and SK 317, with the option for two more, which Perdana had made through its unit Petra Offshore.
In March, Petra Offshore had unilaterally terminated the first order, citing lack of potential charters and the need to avoid incurring additional operating and finance costs. Nam Cheong has said it believes the termination is wrongful and is seeking legal redress.
In the latest stock market announcement Perdana said it had on 1 December 2016, sent notification to Nam Cheong International of the cancellation of the Memorandum of Agreement (MoA) on the acquisition of the accommodation work barge identified as Vessel Hull No. SK 317 as Nam Cheong has not fulfilled the condition of delivery of the vessel in accordance with the terms and conditions of the MoA.
The company is seeking the immediate return of the deposit paid of $8.4m.
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