ANZ sues troubled flooring company Jason over S$1.69m owed

JASON Holdings on Thursday said ANZ has begun a lawsuit in the High Court against the directors of Jason Parquet Specialist (Singapore) Pte Ltd (JPSS) - its principal operating unit - over an approximate S$1.69 million that is owed to the bank. The directors are guarantors for the repayment of banking facilities granted by ANZ.

Jason, which sells timber flooring, also said JPSS had, on May 27, received a letter of demand from Maybank, demanding about S$116,000 in repayment that is related to a hire purchase agreement.

JPSS received a second letter of demand, on May 25, from Tiong Seng Contractors, demanding about S$390,000 that is owed by JPSS.

Both letters of demand said lawyers will commerce legal proceedings if payments are not made seven days from the date of the letters of demand.