Ryobi Kiso Holdings slapped with more letters of demand

Singapore

GROUND engineering solutions firm Ryobi Kiso Holdings has been hit by more letters of demand from its creditors.

On Tuesday, the firm said that it had received a letter of demand from HSBC for the sum of S$789,344.15. Its subsidiary, Ryobi Kiso (S), has also received a letter of demand from Standard Chartered Bank for the sum of S$937,450.82. In addition, certain bond holders have sent the company a letter of demand alleging that an event of default has occurred, and are seeking a S$1.75 million repayment.