Corporate digest

Ryobi Kiso

GROUND engineering solutions firm Ryobi Kiso Holdings said it and its unit have received letters of demand for S$23.1 million from several financial institutions. The claims come from American Express International, Bank of China, CIMB Bank Berhad, Hong Leong Finance, KBC Bank, and Malayan Banking. The lenders have not begun legal proceedings as yet. Ryobi Kiso has warned that these letters of demand may trigger cross default provisions in other banking facilities and project contracts of the group.

DISA