Boustead Heavy Industries has reached a final settlement that will end its legal dispute with Sealink International, arising from a contract signed in 2008.
The Malaysia-listed shipbuilder has agreed to pay $1.5m to its compatriot shipowner over the construction and sale of two 7,000-dwt chemical carriers.
Sealink was claiming as much as $4.93m over the two newbuilding contracts.
It had started arbitration proceedings at the Kuala Lumpur Regional Centre for Arbitration (KLRCA).
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