Ntegrator International Limited
Catalist-listed Ntegrator International announced an update yesterday on a writ of summons served to its subsidiary, Ntegrator Thailand.
Telewave filed a claim on July 3 last year claiming 28.5 million baht (S$1.1 million) from Ntegrator Thailand for work done and costs incurred on a project which included installation, connection testing and acceptance of equipment delivered for use in fibre-optic connection systems.
Bangkok's civil court later ruled that Ntegrator Thailand should pay 20.01 million baht to Telewave Communication with interest calculated from June 2 last year at 7.5 per cent per annum, until full payment is made. It must also pay court costs.
Ntegrator, a Singapore-based communications network specialist and systems integrator, said it had made provisions for the claim in the company's accounts for the financial year ended Dec 31 last year.
Judgment on the 20.01 million baht ruling is subject to appeal by both parties.
Indian line pipe solution provider Welspun reported that total income from operations fell 2 per cent to 83.2 billion rupees (S$1.79 billion) from 84.5 billion rupees a year earlier. But profit after tax rose to 2.28 billion rupees, up from 690 million rupees a year earlier.
Mr B.K. Goenka, chairman of the Welspun group, said the results were "very satisfactory, given the marketplace challenges". The company said that opening of new markets and strong domestic line pipe demand would provide a near-term upside. Earning per share grew to 8.63 rupees, up from 2.63 rupees.
Resorts World Sentosa
Chinese visitors at Resorts World Sentosa can now pay using the Alipay application.
The collaboration with Alibaba's financial affiliate Ant Financial Services Group, which runs Alipay, was announced yesterday. While Chinese travellers can already use Alipay to book hotel packages and attraction tickets online, the collaboration will introduce Alipay onsite payment terminals at more than 110 locations around the resort.
Resorts World Sentosa, which is home to tourist attractions such as Universal Studios and the S.E.A aquarium, said it will join with Alipay to roll out travel packages and promotions exclusively for Alipay users.