SHS warns of possible project default on financing woes
Singapore
CONSTRUCTION firm SHS Holdings' delayed solar power project in Bangladesh could face default and a termination of key agreements if required financing is not obtained on time, the company said on Wednesday before the market opened.
If a default is triggered under the agreement with the Bangladesh Power Development Board (BPDB), the group will only be able to recover US$3-8 million of the US$21.7 million already invested into the solar project, SHS said.
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