Watches.com Limited (SG:WVJ) has released an update.
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Ntegrator Holdings Limited and its subsidiary NPL face a legal claim from Tokio Marine Insurance Singapore Ltd. over unpaid dues under an indemnity agreement, with Tokio Marine seeking reimbursement for S$225,000 paid to Singapore’s Ministry of Manpower. This liability arises from the alleged failure of another subsidiary, Fiber Reach Pte Ltd., to cover costs related to the employment of foreign workers, which Ntegrator Holdings had guaranteed.
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