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News - Detailed News Story

Chinese Global Investors gets letter of demand from landlord over rental arrears

27 Jun 2019 09:00

By Lee Meixian

CATALIST-listed investment holding group Chinese Global Investors Group appears to be having some difficulty paying its rent and wages.

On Tuesday it said that it has received a letter of demand from law firm Allister Lim & Thrumurgan (AL&T), claiming the sum of S$12,462.63 for the landlord, Ashford Investment, as arrears in rent and late payment interests. The landlord is also claiming for legal costs of S$38.

Chinese Global Investors, which provides financial and investment services, as well as waterproofing and building protection solutions, said that under a written tenancy agreement dated Sept 21, 2017, the company leased a unit on the 11th floor of Shenton House Singapore along Shenton Way.

AL&T said in its letter, dated June 14, that it expects Chinese Global Investors to repay the outstanding sums to the landlord by June 28, 2019, failing which the landlord will exercise its right under the tenancy agreement to re-enter the premises.


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Source: Business Times
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