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Ascendas REIT Commences Legal Proceedings Against 2 Contractors
Daily Bulletin | 25 June 2015
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Ascendas REIT has commenced court proceedings and arbitration proceedings against two contractors, A@risco Services and Concorde Security to seek adjudication on the total amounts payable by A-REIT for services purportedly rendered by them to A-REIT.

Currently, the amounts in dispute with A@risco and Concorde are around $3.6 million and $1.8 million, respectively.

As part of the legal proceedings, Ascendas REIT is also seeking damages from A@risco of approximately $0.5 million for certain works done by A@risco.

Ascendas REIT  3.170 +0.06 +1.93%   
Business: Co invests in the real estate markets of Singapore and Australia.

Insight: Apr-19, FY19 gross revenue and NPI inched up 2.8% ... Read More

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