3i Infotech Asia Pacific received a unilateral arbitration order from VIAC regarding a contractual dispute with Bao Minh Insurance.
Bao Minh alleges non-delivery of PREMIA 11 software implementation and seeks refund of USD 333k advance plus penalties.
The Singapore subsidiary will dispute the order and seek indemnification from Azentio Software via legal notice.
Potential financial impact includes contractual penalties of USD 37k and arbitration fees of VND 301 million.