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.