Astaka unit receives letters of demand for RM125.3m owed to contractor

Singapore

CATALIST-LISTED property developer Astaka's wholly owned indirect subsidiary, Astaka Padu Sdn Bhd (APSB), owes a late payment of RM125.3 million (S$41.3 million) plus interest to a construction firm it hired in August 2015.

Solicitors representing the creditor, China State Construction Engineering (M) Sdn Bhd (CSCE), had sent three letters of demand to APSB, with the latest one received on July 11, 2019.