KENMARK INDUSTRIAL CO. (M) BHD [] has received a letter of demand for RM50.98 million, which is the principal sum and interest accured for an unsecured term loan of RM50 million.
Kenmark said on Wednesday, June 23 the letter of demand was issued by Messrs Zul Rafique & Partners acting for CapOne Bhd and Malaysian Trustees Bhd.
It said the event of default was triggered under the facility agreement as a result of issuance of three letters of demand all dated May 12, 2010 issued by Messrs Zulpadli & Eham for and on behalf of Export-Import Bank of Malaysia Bhd against Kenmark.
Written by Joseph Chin
The Edge Malaysia
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