Mapletree Logistics Trust seeks S$1.4m in unpaid rent from Natural Cool unit
Jude Chan
AIR-CONDITIONING services company Natural Cool Holdings said on Friday (Jun 10) that Mapletree Logistics Trust (MLT) is seeking payment of over S$1.4 million of rental in arrears from wholly owned subsidiary Natural Cool Investments (NCI).
Real estate investment trust (Reit) MLT is the landlord of 29 Tai Seng Avenue, where NCI operates from.
Natural Cool said it had received a letter of demand from the solicitors acting for MLT on Jun 9.
However, the board said in the bourse filing that “no legal proceedings have commenced at this stage”.
Natural Cool said NCI is seeking professional advice on the matter, and is also in discussion with MLT to work towards “a mutually acceptable and amicable resolution”.
Natural Cool had called for a trading halt before market open on Friday.
Units of MLT closed 1.8 per cent or S$0.03 lower at S$1.67, before the announcement.
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