🚢 China Merchants, SLPA, and Access Engineering Scrap $ 392 Mn Colombo Logistics Hub

• Project Scrapped: China Merchants Port Holdings, Sri Lanka Ports Authority (SLPA), and Access Engineering have agreed to terminate the $ 392 Mn South Asia Commercial and Logistics Hub (SACLH) project at the Port of Colombo. • Capital Recovery: Out of the $ 37.1 Mn invested in cash, partners will recover ~$ 29.8 Mn proportionally. • FCGL (China Merchants): Recovers ~$ 20.8 Mn (from $ 26 Mn invested). • SLPA: Recovers ~$ 4.5 Mn (from $ 5.6 Mn invested). • Access Engineering: Recovers ~$ 4.5 Mn (from $ 5.6 Mn invested). • Settlement Details: SLPA will pay $ 21.9 Mn as a lump sum after $ 4.1 Mn in VAT and late liabilities. An additional $ 7.85 Mn in distributable cash will be split among shareholders. • Reason for Termination: Decision driven by changes in external circumstances, project timetable adjustments, and commercial considerations. The project company (SACL) will be wound up.