Midas hit by two letters of demand totalling S$27m
Singapore
BELEAGURED railway parts maker Midas Holdings has received two letters of demand in March and April this year totalling over S$27 million, it said on Tuesday.
The first letter, dated March 9, refers to a finance lease agreement entered into on July 22, 2016, by Midas, lessee Luoyang Midas Aluminium Co, lessor Fenghui Leasing Co, Jilin Midas Aluminium Industries Co, Jilin Midas Light Alloy Co (JMLA), former executive chairman Chen Wei Ping, and Beijing Wei Bao Shi Jie Investment Consultant Co.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Foxconn’s musical chairs sound like punk rock
AI fuels cloud computing boom for tech giants
AMD slides after AI chip forecast misses lofty estimates
IBM wins reversal of US$1.6 billion poaching award to BMC
Binance founder Zhao Changpeng gets 4 months in prison
Singapore Airlines could post highest-ever earnings of about S$2.7 billion for FY2024, says analyst