TROUBLED timber flooring provider Jason Holdings and its unit Jason Parquet Specialist (Singapore) have received another letter of demand from a bank and face other claims made against them by contractors, the Catalist-listed company said in a Singapore Exchange filing on Tuesday.
Its landlord at a dormitory in Kaki Bukit is also kicking it out by the end of May, it added.
ANZ's Singapore branch has sent letters of demand to Jason Holdings, Jason Parquet and Jason Holdings executive directors Jason Sim Chon Ang and Sim Choon Joo, the group said.
It said the letters demanded full repayment of around S$1.69 million, consisting of a S$1.64 million principal and about S$52,000 in interest due under banking facilities that ANZ granted to Jason Parquet, with repayment guaranteed by Jason Holdings and the two directors.
Jason Holdings added that five contractors have also sent letters of demand to Jason Parquet and that it has already missed repayment deadlines for four out of the five. Those four contractors had all said they would start legal action if not paid by their stipulated deadlines.
SAC Freight had demanded that Jason Parquet pay it about S$12,000 by April 27, Bostik Findley (Malaysia) asked for about S$32,000 by April 29, Blue Star Engineering & Construction about S$174,000 by May 13 and Nidhi Engineering & Construction around S$61,000 by May 11.
Nidhi's solicitors "have been instructed to file a Writ of Summons with the Registry of the State Courts, Singapore" if Jason Parquet missed the deadline, Jason Holdings said.
For the fifth contractor making a claim, its stipulated payment deadline has not yet passed. Safeplux Electrical Engineering has "obtained an Order of Tribunal from the State Courts of the Republic of Singapore Small Claims Tribunals" for Jason Parquet to pay Safeplux around S$1,000 by June 6, "failing which Safeplux may enforce the Order accordingly", Jason Holdings noted.
Jason Holdings also said Labourtel, its landlord for several Kaki Bukit dormitory units, has terminated Jason Parquet's tenancy with immediate effect and given Jason Parquet until May 22 to vacate the units, or until May 31 if Jason Parquet "chooses to reinstate the units". The group did not say what Jason Parquet planned to do.