SunMoon unit gets statutory demand for US$1.2m from food supplier
Add BT as a preferred source
Vivienne Tay
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.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Deal brewing for portfolio of 50 conservation shophouses at about S$500 million
Family offices cheer MAS’ lifting of precious metals cap, but do not expect a gold rush
Shipbuilder Penguin International wins first prime contract with Singapore Navy
New Woodlands Gateway industrial hub takes shape as RTS Link nears completion
