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Sinja Land unit served writ of summons
A SUPPLIER had served a subsidiary of Sinja Land a writ of summons and sought claims for allegedly outstanding invoices, the listed parent company said.
Powen Engineering Pte Ltd is claiming for, among others, alleged non-payment of invoices and release of a retention sum as allegedly agreed with Sinja RTE Solutions Pte Ltd, Sinja Land said after Wednesday's trading close.
Sinja RTE Solutions is a 51-per-cent-owned subsidiary of Sinja Land, an investment holding company that manufactures and sells customised elastomeric and polymeric components
Sinja Land said that it has written off its investment in Sinja RTE Solutions in its audited financial statements for the year ended Dec 31, 2017. It expects no material adverse impact from the writ of summons and claims served on Sinja RTE Solutions.