Ezra Holdings is disputing a put option exercised by Perisai Petroleum Teknologi.
The Singapore-listed company said its subsidiary EMAS Offshore received a notice from Perisai about the sale of SJR Marine shares to EMAS for $43m.
Under an agreement signed between EMAS and Perisai over SJR Marine in 2012, the Kuala-Lumpur based company has the option to sell its 51% stake.
But EMAS said in an announcement it was disputing the put option rights exercised by Perisai.
It added that it is currently in discussions with Perisai to resolve the matter notice along with other issues that have emerged.
In the fourth quarter Ezra posted a heavy loss of $418.8m due to impairment charges and tough offshore markets.
