Singapore offshore operator Swiber Holdings has revealed the termination of a transport and installation service contract in Vietnam, which it is disputing with the undisclosed customer, while responding to a query from the Singapore Exchange.
The company said the contract value of $21m is immaterial based on its annual revenues, the reason it never made an earlier announcement on the termination, which was received on July 18.
Swiber also denied reports that its vessel which was to be deployed to the Vietnam project, Kaizen 4000, had been detained in China.
, had been detained in China.
Latest: Swiber goes into liquidation.
