Sen Yue Holdings Ltd. (SG:5BS) has released an update.
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Sen Yue Holdings Limited has announced that its fully-owned subsidiary, SMC Industrial Pte Ltd, is facing a legal claim from a former director and major shareholder, Mr. Koh Mia Seng, seeking indemnification for liabilities related to banking facilities provided by HSBC. The claim is part of a larger suit where HSBC is seeking repayment of over USD 880,000 and SGD 441,000 from Mr. Koh. The company is contesting the claim, believing it has strong grounds to do so, and promises to keep shareholders updated on significant developments.
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