Chinese Global Investors gets letter of demand from landlord over rental arrears

Singapore

CATALIST-listed investment holding group Chinese Global Investors Group appears to be having some difficulty paying its rent and wages.

On Tuesday it said that it has received a letter of demand from law firm Allister Lim & Thrumurgan (AL&T), claiming the sum of S$12,462.63 for the landlord, Ashford Investment, as arrears in rent and late payment interests. The landlord is also claiming for legal costs of S$38.

Chinese Global Investors, which provides financial and investment services, as well as waterproofing and building protection solutions, said that under a written tenancy agreement dated Sept 21, 2017, the company…