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PropNex Ltd. ( (SG:OYY) ) has issued an update.
PropNex Limited has disclosed that its wholly owned subsidiary, PropNex Realty Pte. Ltd., has been named as one of three co-defendants in a High Court lawsuit in Singapore, where claimants are seeking S$367,405 in damages over an alleged breach of duty of care and vicarious liability tied to an alleged negligent misrepresentation by one of its salespersons in a property transaction. The board, which plans to vigorously defend the case and is seeking legal advice, does not expect the suit to materially affect the group’s financial position or performance for the financial year ending 31 December 2026, but has opted to announce the matter voluntarily as part of its corporate governance practices and has urged shareholders to monitor updates and seek professional advice before taking any action regarding their holdings.
The most recent analyst rating on (SG:OYY) stock is a Hold with a S$2.50 price target. To see the full list of analyst forecasts on PropNex Ltd. stock, see the SG:OYY Stock Forecast page.
More about PropNex Ltd.
PropNex Limited is a Singapore-incorporated company operating in the real estate sector through subsidiaries including PropNex Realty Pte. Ltd., which provides property agency and related real estate services in the local market.
Average Trading Volume: 1,316,882
Technical Sentiment Signal: Buy
Current Market Cap: S$1.62B
For an in-depth examination of OYY stock, go to TipRanks’ Overview page.