Hoe Leong: UOB's letter of demand won't affect its viability
Singapore
THE board of Hoe Leong Corporation said a letter of demand received by its subsidiary, Arkstar Voyager, from United Overseas Bank (UOB) claiming repayment of about S$5.66 million, will not affect the group's ability to carry on its business as a going concern.
The heavy equipment supplier on Wednesday disclosed the letter of demand received by its wholly-owned unit. The amount represents the loan principal and accrued interest up to May 31, 2019.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Robinhood beats profit estimates on interest income strength
Prudential shutters Hong Kong wealth unit Pulse
Singapore has to be realistic on global trends plaguing its stock market: DPM Wong
Google DeepMind unveils next generation of drug discovery AI model
AEM Holdings Q1 net profit tumbles 85% to S$2.4 million
World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift