SINGAPORE (May 22): Jason Holdings says the claims against subsidiary Jason Parquet Specialist (Singapore) (JPSS) from creditors Salsagoff Engineering and FRR Construction are expected to have a material and adverse impact on the financial position, financial performance, business and operations of the group.

On May 18, JPSS received a letter of demand from the solicitors of Salsagoff demanding for repayment of the sum of $110,000 that is due and owing by JPSS under several unpaid invoices issued by Salsagoff. The letter stated that the solicitors of Salsagoff have been instructed to proceed against JPSS if payment of such sum is not made within seven days of the date of the letter of demand.

On the same date, JPSS also received a letter of demand from the solicitors of FRR demanding for repayment of the sum of S$40,000 that is due and owing by JPSS under several unpaid invoices issued by FRR. The letter also stated that legal action will be taken against JPSS if payment is not made within seven days of the date of the letter of demand.