"Two sources familiar with the deal confirmed a report in the Singapore Business Times on Wednesday that said the Chinese shipbuilder failed to disclose an ongoing legal dispute with a customer that had cancelled an order for two bulk carriers.
The sources declined to be identified because of the sensitivity of the matter.
The two vessels remain on the firm's order books in its initial public offering prospectus, which also said New Century was not involved in any legal proceedings, the paper said, adding a complaint had been made to the Singapore Exchange."
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