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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
No extension to 6-month pause on DBS’ non-essential activities, but 1.8 times multiplier stays
CSE Global records S$186.2 million in Q1 new orders, up 16.7%
HSBC CEO to retire; bank reports 1.7% lower Q1 profit of US$10.8 billion
Huawei profit surges 564% as it eclipses Apple in China
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Boosted by name brand beers, Carlsberg sees higher sales