SINGAPORE: The parent company of Hong Kong's Jumbo Floating Restaurant will not receive any insurance payout for the loss of the vessel, it said in a statement on Sunday .
"The Company hired professional marine engineers to inspect the hull and hoardings and obtained approval from the authorities before the vessel departed from Hong Kong." A few days later, the company reached out to some media outlets, insisting that the boat had"capsized", not"sank"."Our statement on Jun 20 stated that water had entered into the hull of the vessel, and the vessel began to tip when passing the Xisha Islands in the South China Seas," it added, using the Chinese name for the Paracels.
The local maritime authority has been notified and is now considering the appropriate measures, it added.