Yongmao Holdings settles crane incident with CMNT Investment

The incident involved a tower crane sold by Yongmao Machinery to CMNT in 2016.

Yongmao Holdings (YMH) has reached a final statement of all claims with CMNT Investment Pty Ltd, following an incident in October 2018 involving a tower crane that YMH unit, Yongmao Machinery (YMM), had sold to CMNT in July 2016.

On 8 February, CMNT Investment filed a Writ of Summons and Statement of Claim against (YMM), followed by amended statements of claim against YMM.

Under the agreement, the suit shall be dismissed and the terms of the settlement are required to be kept confidential.

The settlement is not expected to have any material impact on the net tangible assets and earnings per share of the Group for the financial year ending 31 March 2025.

Also Read

Institution of Engineers sets up new board to promote faster chartership registration

Hanwha raises offer to $0.67 to acquire full control of Dyna-Mac Holdings

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Vibrant Group wins suit against Blackgold Australia

The group shall be paid damages and fees by Blackgold Australia’s ex-CEO and ex-chairman.

Lorem Ipsum text in year 2025

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old.

Agribusiness

Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.

Agribusiness

Secondhand furniture gains traction as Singaporeans embrace circular economy practices