Lum Chang Holdings in arbitration dispute against Ryobi Kiso over Downtown Line work
A unit of Lum Chang Holdings is currently involved in an arbitration against Ryobi Kiso (S) over work done with respect of the Downtown Line 2 MRT project.
The claim by Lum Chang Building Contractors against Ryobi is for breach of and default of duties under the subcontracts for a total of $36 million.
Ryobi has counterclaimed for $19 million for work done and sums owing.
The arbitration is currently in its initial stages.