The cancellation was announced on December 1, however Perdana has since received notice from Nam Cheong stating that it has no right to cancel the agreement and has breached contract by doing so. Nam Cheong claims the action has consequently terminated the agreement which forfeits the deposit.
Perdana had inked a $84m contract for a pair of barges. The first barge was cancelled in March, and on cancellation of the second Perdana is seeking the return of $8.4m.
Perdana says it is now seeking legal advice.