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USP Group receives statutory demand for S$250,000 from individual

WATCH-LISTED USP Group has received a statutory demand for S$250,273.97 from an individual, Ridwan Kasenda, the company announced in a bourse filing on Sunday. 

The sum is said to be related to a settlement agreement purportedly entered between Mr Kasenda and USP Group on or around June 27, according to the statutory demand, dated Oct 4. 

If USP fails to pay, secure or compound the outstanding sum within three weeks, Mr Kasenda will apply for a winding-up order against the company, the statutory demand stated. 

USP said it is seeking legal advice on the matter. Its shares closed flat at S$0.035 on Friday.

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