Singapore, 28 April 2005 - We are pleased that the Singapore High Court has granted judgment in favour of SCV. The Court held that under the terms of the 1995 Network Lease Agreement, no damages are payable to SingTel. Submissions on legal costs have been invited from the parties. SCV is confident that with this favourable outcome, costs will be awarded to SCV.
With Honourable Justice Kan Ting Chiu's ruling, our belief that SingTel did not have any justified claim to damages from SCV has been vindicated. SCV had connected community centres and other public buildings, as well as some commercial buildings, in pursuance of the Government’s intent to transform Singapore into an ‘intelligent island’.
SCV had always held the view that this dispute would have the greatest impact on customers affected by this matter, rather than the parties involved in the lawsuit. It has been our view that senior management of both companies should be working on more meaningful activities that will enhance the overall multimedia landscape in Singapore, thereby reinforcing the nation’s standing as an infocomm hub in the region. We trust that the other side will now move forward on this basis.
SCV is represented by Philip Jeyaretnam SC, Low Chai Chong and Ajinderpal Singh from Rodyk & Davidson.
