Midas hit by two letters of demand totalling S$27m
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Nisha Ramchandani
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Singapore
BELEAGURED railway parts maker Midas Holdings has received two letters of demand in March and April this year totalling over S$27 million, it said on Tuesday.
The first letter, dated March 9, refers to a finance lease agreement entered into on July 22, 2016, by Midas, lessee Luoyang Midas Aluminium Co, lessor Fenghui Leasing Co, Jilin Midas Aluminium Industries Co, Jilin Midas Light Alloy Co (JMLA), former executive chairman Chen Wei Ping, and Beijing Wei Bao Shi Jie Investment Consultant Co.
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