NCL International Logistics Public Company Limited, or NCL, disclosed that the Supreme Court has issued an order not permitting the plaintiff to appeal, bringing a case worth 23.07 million baht to an end, with the company, as the third defendant, bearing no liability under the claim. Admiral Atthaphon Phetchai, the Chief Executive Officer, stated that in this case the Court of First Instance had ruled on 5 September 2023 ordering NCL to pay principal plus interest of 23.07 million baht, before the Court of Appeal reversed the ruling and dismissed the case on 19 November 2024, and most recently the Supreme Court declined to accept the plaintiff's appeal. The company had set aside a provision of 23.07 million baht for this case and is considering how to reverse the entry in accordance with financial reporting standards. Previously, NCL cleared another dispute worth 25.08 million baht through a similar Supreme Court order. Combining both cases, the company plans to record an accounting reversal of approximately 48 million baht by the end of this year and expects this to turn its second-half performance positive.
NCL International Logistics Public Company LimitedCompany plans to reverse ~48 million baht in provisions by year-end, expecting a positive second-half performance.
