Boustead Projects: Received writ of summons filed by YCH Holdings

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Boustead Projects said on Wednesday that it received a writ of summons filed by YCH Holdings in the High Court of the Republic of Singapore claiming breach of a contract.

“The company intends to vigorously defend the claims made in the suit,” Boustead Projects said in a filing to SGX after the market close on Wednesday.

YCH is claiming Boustead Projects allegedly breached contractual obligations related to a development project called Supply Chain City between 2012 and 2014, the company said.

The filing said that YCH is seeking damages in the alleged breach of contract, or damages in tort for alleged misrepresentation in the amount of S$2.335 million as well as interests and costs.

Boustead Projects said the suit likely wouldn’t be concluded until after the current financial year ending 31 March 2019.

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