Thursday 07 Nov 2024
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This article first appeared in The Edge Financial Daily, on February 3, 2017.

 

KUALA LUMPUR: Shin Yang Shipping Sdn Bhd, a wholly owned subsidiary of Shin Yang Shipping Corp Bhd, and Harbour-Link Lines Sdn Bhd which is a unit of Harbour-Link Group Bhd, have taken legal action against PDZ Holdings Bhd’s vessel PDZ Mewah.

In a bourse filing yesterday, PDZ said that Shin Yang and Harbour-Link have both served the company with writs in admiralty action in rem (action against the ship) to seek delivery of containers which were shipped on board PDZ Mewah by Perkapalan Dai Zhun Sdn Bhd, a former wholly-owned subsidiary of PDZ.

PDZ sold its entire stake in Perkapalan Dai Zhun last December to Salvage Point Ltd. Prior to the disposal, PDZ Mewah’s ownership was transferred to PDZ.

PDZ said it is now making the arrangements to release the said containers. “The board is currently seeking legal advice and intends to take steps to defend the writs and any claims that may subsequently be filed and set it aside,” read PDZ’s announcement.

It added that the writs are not expected to have material business, financial and operational impact on the company and its subsidiaries for the current financial year ending Dec 31, 2017.

PDZ Mewah was arrested by Dan-Bunkering (S) Pte Ltd last month over the non-payment of supply of marine fuel oil and/or marine gas oil to the vessel. Dan-Bunkering supplies bunker fuels, lubricants and related products and services for vessels worldwide.

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