Teho issues Writ of Summons against two vendors, seeks S$1.26m in damages

CATALIST-LISTED oil and gas-related company Teho International on Tuesday said it has issued a Writ of Summons in the High Court of Singapore against two vendors for non-compliance of contract.

Teho said the Writ of Summons is "against the two vendors of shares in TIEC Holdings Pte Ltd due to their non-compliance of certain contractual obligations under a sale and purchase agreement dated Mar 20, 2014, and a deed of indemnity entered in relation thereto".

Teho added that it is seeking, among others, damages in the sum of S$1.26 million, together with costs, under the Writ of Summons.