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Destini loses arbitration, ordered to pay Damen EUR 3.81 million and SGD 241,050.02

PUBT·11/13/2026 10:23:03
Destini loses arbitration, ordered to pay Damen EUR 3.81 million and SGD 241,050.02
  • Destini and its shipbuilding subsidiary were held jointly and severally liable to Damen Shipyards under a November 11, 2026 arbitration award.
  • The award totals EUR 3.81 million and SGD 241,050.02, excluding post-award interest.
  • The tribunal dismissed the respondents' EUR 2.17 million counterclaim, holding Destini liable as guarantor.
  • An additional RM 4.14 million provision for the quarter ending December 31, 2026 is expected to reduce net assets per share by 0.75 sen.
  • Post-award interest accrues from December 11, 2026 at approximately EUR 368.99 and SGD 22.17 daily until full payment.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Destini Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3724328) on November 13, 2026, and is solely responsible for the information contained therein.