Metech receives letters of demand from Setia Law over legal costs
Add BT as a preferred source
Sharanya Pillai
CATALIST-LISTED Metech International has received letters of demand from legal firm Setia Law for costs incurred over its dispute with another company, X Diamond Capital, and other parties, it disclosed in a bourse filing on Tuesday (Jan 23).
On Jan 18, Metech received letters from Setia Law demanding payment of S$88,932.06 from the company, and S$138,380.66 from its subsidiary, Asian Eco Technology (AET). Payment is due within seven days of the date of the letters.
In Tuesday’s filing, Metech said that prior to receiving the letters, it had already paid Setia S$133,690.16 for its legal services on the cases. AET paid S$158,786.75.
The company said it would meet Setia Law in the coming week to seek an amicable solution, and that it would not hesitate to take legal action to protect its interests, as may be necessary.
Metech’s shares ended Tuesday flat at S$0.035.
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.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
EU and Asean at 50: time for bold action
