The sale of JES International Holdings' shipyard subsidiaries has failed, the restructuring Singapore-listed Chinese yard company has revealed.
The deadline for the disposal was 31 December last year, but talks on an extension to this failed.
JES will now enter into a termination and settlement agreement, with no claims to be made by either party.
In 2016, JES agreed to sell its insolvent Chinese shipyard business for just $500,000.
