Singapore

JOYAS International Holdings has appointed lawyers in Singapore and Indonesia to recover a HK$24.4 million (S$4.2 million) deposit paid to a Philippine party for the supply of nickel ore.

The Singapore-based investment holdings company said the deposit - paid by Hong Kong Silver Basic Group (HK Silver) - was funded by its wholly-owned unit, Asiapac Holdings, which in turn owns 70 per cent of HK Silver.