Creative: To Recognise S$43 Million Income From Legal Proceedings, Huawei's Appeal Dismissed.

25 May 2018 15:22

The Singapore Court of Appeal dismissed Huawei International Pte Ltd's Appeal and granted Creative Technology Ltd and QMax's Appeal with regard of certain sums. In doing so, the CA ordered that Huawei pay the Company and QMax an additional sum of approximately S$2.3m, in addition to the amounts previously awarded by the High Court of US$9.3 million and S$15.6 million with interest. The CA also awarded costs to the Company and QMax. The CA's judgment is final and non-appealable. Following the CA's judgment, Creative expects to recognise an income arising from the above-mentioned legal proceedings of approximately US$32 million (S$43 million) in the quarter ending 30 June 2018...

Attachments: