New Silkroutes – an investment holding company focused on healthcare and energy – has been served a letter of statutory demand on Dec 10 from its landlord Fragrance Regal, for an alleged sum of $146,234.73.
This sum is due at 12pm on Dec 17. The letter comes New Silkroutes it failed to respond to an earlier letter of demand, the company notes in a Dec 13 regulatory filing.
The earlier letter, dated Nov 16, had requested for an alleged sum of $98,652.60 (inclusive of GST and legal costs), to be paid by noon on Nov 18.
The sum demanded is premised on a tenancy agreement between the company and Fragrance Regal, for the former’s unit at the Fragrance Empire Building at 456 Alexandra Road.
New Silkroutes says that it had only retrieved the Nov 16 letter from its mailbox on Dec 13, due to the work-home-from arrangements that was being practiced, in line with the Covid-19 regulations.
It stresses that it had been reaching out its landlord’s leasing and finance department for a meeting since September, without success.
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New Silkroutes is now reviewing the letter and statutory of demand with its legal and financial advisors, and says it will take appropriate action accordingly.
It added that the board will keep shareholders updated as and when there are any material developments on this matter.
Shares in New Silkroads closed flat at 7.5 cents on Dec 14.
Cover image: file photo
