Singtel goes to court with Starhub? what a JOKE.
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How come the parent company of both Singtel and Starhub can allow this to happen? Temasek Holdings owns 63% of Singtel and indirectly owns 63% of Starhub.
All this legal issues will ultimately put a financial strain on the respective companies and will also affect shareholder's return indirectly.
But on the bright side, it shows that government-linked companies are operating independently and free of govermental linked influences.
SINGAPORE : SingTel has won a court appeal for damages against StarHub Cable Vision (SCV) after a three year legal battle.
SingTel had sued StarHub for using its network to serve 120 non-residential properties, in breach of their network lease agreement.
The agreement allows StarHub to serve only residential homes.
The High Court found StarHub in breach of the 1995 agreement but dismissed SingTel's claims for unspecified damages in April last year.
StarHub defended itself by saying that the contract did not specifically prohibit it from serving commercial properties.
The next step is for the court to assess the damages due to SingTel.
"We are pleased that our appeal is successful and the court's decision is unanimous. SingTel runs a business and we have to take care of our shareholders. This appeal is about keeping our business in order and protecting our shareholders' interest. We will let the court assess the damages," said Peter Heng, director of Corporate Communications at SingTel.
Meanwhile, StarHub's Head of Corporate Communications Jeannie Ong said the telco is disappointed to learn about the court's decision.
She added that it is not appropriate for StarHub to comment further as damages are still to be assessed by the court.
- CNA /ls -
Smoke grenade! Psssshhhhhhhhhhh -
Internal strife within termasek holdings?
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Maybe this proves that the government linked companies are free to operate and make decisions on their own?Originally posted by Aveme:Internal strife within termasek holdings? -
well i am not sure on that but allowing their seed companies to sue each other off?Originally posted by shade343:Maybe this proves that the government linked companies are free to operate and make decisions on their own? -
whats new?
our govt spent 400k to tell us that the best name for marina bay is marina bay. -
Originally posted by dragg:whats new?
our govt spent 400k to tell us that the best name for marina bay is marina bay.
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hahhaha..Originally posted by dragg:whats new?
our govt spent 400k to tell us that the best name for marina bay is marina bay. -
Because you singaporeans complained that GLC stifles competition and whatever....dunno what level playing field...Originally posted by Aveme:well i am not sure on that but allowing their seed companies to sue each other off? -
They have started the shit.
So, they have to end it.
In the end, the money is still within the family. -
Left pocket to right pocket.