Chaswood Resources' Malaysian unit receives letter of demand

CHASWOOD Resources Holdings announced on Wednesday that its indirect Malaysian subsidiary Chaswood Resources Sdn Bhd has received a letter of demand dated March 25 from the solicitors of Acme Find Food to recover an outstanding amount of RM865,412.76 (S$287,246)

The sum is for the goods sold and delivered to outlets of the group. No payment has been made to date.

The group said that should the claim amount be paid, it would have a material adverse impact on its financial position.

It added that more announcements will be made when there are further developments on the matter.