PDZ: No material impact from arrest of vessel by supplier

PETALING JAYA: PDZ Holdings Bhd yesterday announced that it does not expect a material impact from the arrest of one its vessels by one of its suppliers, for the financial year ending Dec 31, 2017.

PDZ told Bursa Malaysia in a filing its vessel PDZ MEwah has been served a Writ in Admiralty Action in Rem and a Warrant of Arrest by Dan-Bunkering (Singapore) Pte Ltd for the supply of marine fuel oil and/or marine gas oil to the vessel.

The board is seeking legal advice and intends to take steps to defend the arrest of vessel and any claims that may subsequently be filed and set it aside.

No further details were given.