Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on September 19, 2017

KUALA LUMPUR: Shin Yang Shipping Corp Bhd is suing an Indonesian client, PT Gemilang Raya Maritime, for failing to pay up RM6 million for four vessels it bought from the shipbuilder.

In a Bursa Malaysia filing, Shin Yang said its wholly-owned unit Shin Yang Shipping Sdn Bhd has filed its claim against the firm on Sept 13 at the North Jakarta District Court in Central Jakarta.

Shin Yang said it has sold and delivered four vessels last October to PT Gemilang Raya, but the latter has yet to make payment for the vessels purchased, despite two demand letters seeking for payment.

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