KTL Global’s subsidiary served with S$203,300 claim by Fastfixs Systems
Add BT as a preferred source
Janice Lim
THE legal woes facing KTL Global are continuing to pile up.
A subsidiary of the company, Tianci Agritech, has been served an originating claim to the sum of S$203,300 by the State Courts, said the product distributor in a bourse filing on Friday (Mar 17).
Contractor Fastfixs Systems raised this claim through the State Courts on the basis that Tianci Agritech owed this sum of money to them for construction works carried out at the vegetable and fruits distributor’s request.
This claim comes just days after a High Court judge ordered KTL Global to pay a man S$933,800 – an amount which he had allegedly paid to acquire his 5,500,000 shares in the company in 2015.
KTL Global said it is currently reviewing its options and will seek further legal advice on the matter.
Shares of KTL Global have been suspended from trading. The counter is also in the SGX watch-list.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
