Metech receives letters of demand from Setia Law over legal costs
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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.
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