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SunMoon unit gets statutory demand for US$1.2m from food supplier
FRUITS distributor SunMoon Food Company on Tuesday said its wholly-owned subsidiary has received a statutory demand on Nov 29 from Japanese food supplier Wismettac Foods, which is seeking payment of US$1.2 million within 21 days from the date the demand was served.
If SunMoon Distribution & Trading fails to comply with the demand, or compound the outstanding sum owed within reasonable satisfaction, Wismettac will apply for a winding-up order against the company.
SunMoon Food directors said the claim will have no material adverse impact on the financial position and performance of the group.
The counter ended at S$0.042 on Monday, down 0.2 cent or 4.6 per cent before the announcement was made.