Reference is made to the Company’s announcement made on 17 March 2020.

The Board of Directors of Kelington wishes to announce that KES had on 16 September 2020 filed a Statement of Claim under the Arbitration Rules of the Singapore International Arbitration Centre and sets out its claims against Mutiara (FE) Pte Ltd (“the Respondent”) as follows:

1. Back charges and/or claims in the sum of SGD5,033,066.99 and/or any amounts to be assessed by the Tribunal;
2. Liquidated damages in the sum of S$738,535.88 in respect of the Package 1 Subcontract and liquidated damages in the sum of S$780,384.80 in respect of the Package 2 Subcontract and/or any amounts to be assessed by the Tribunal;
3. Further and/or in the alternative, general damages to be assessed;
4. A credit of the sum of S$373,732.85 that was overpaid in respect of the Package 1 Subcontract and a credit of the sum of S$693,266.00 that will be overpaid in respect of the Package 2 Subcontract and/or any amounts to be assessed by the Tribunal;
5. Costs on an indemnity basis;
6. Interest; and
7. Such further and other relief as may be deemed appropriate by the Tribunal.

The Company will make the necessary announcements on material development in respect of this matter from time to time.

This announcement is dated 17 September 2020.