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OKH Global announced on Thursday that its wholly-owned subsidiaries, OKH Buroh and OKH Loyang, have been served with a writ of summons on April 3, 2017, filed by Weston Global Realty Pte Ltd and KTNC Real Estate Consultants in the High Court of Singapore on March 29, 2017.
The plaintiffs had claimed against OKH Buroh and OKH Loyang a total sum of S$4,518,858.39 (excluding damages, costs and interest) in respect of commissions payable for sale and lease transactions for Ace@Buroh and Loyang Enterprise under the commission agreements entered between them.
OKH Global said that it is seeking legal advice on this matter and further announcements will be made when there are material developments in the legal proceedings. Shareholders are advised to exercise caution when dealing with the company's securities.