Mary Chia Receives Statutory Demand from Fullink Capital; Shares Plunge 9%

MT Newswires

04/13

Mary Chia (SGX:5OX) received a statutory demand from Fullink Capital in respect of an alleged sum of around SG$902,640, according to a Friday filing with the Singapore Exchange.

Shares of the beauty and wellness brand were down over 9% in Monday trading.

The amount is in connection with loans extended to the company's subsidiary, Organica International, for which the company had provided a corporate guarantee.

The company had reached out to Fullink and proposed a resolution with a revised sum of around SG$354,379 which was not accepted.

The company has now prepared an application to the Singapore Court, seeking declaratory relief.

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