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Metech seeks rental refund from Mapletree Industrial Trust
E-WASTE management company Metech International on Tuesday said that its solicitors have served a writ of summons on DBS Trustee, being the trustee of Mapletree Industrial Trust, for the recovery of rental at its premises at 65 Tech Park Crescent for the period Jan 26, 2015 to July 15, 2015.
The claim on the rental sum amounts to about S$540,338.
Metech had signed the lease agreement with the industrial landlord in November 2007, for the lease of the property for 10 years, and the agreement allegedly states that the tenant will not be liable to pay the rent so long as the property cannot be used or is inaccessible.
However, this was not the case when the property suffered a fire on Jan 26, 2015, which affected its operations until its full recovery on July 15, 2015.
Metech said it will continue to update shareholders on the progress of the suit.