On Monday, Sino Grandness had called for a trading halt pending an announcement after SGX issued an unusual trading query to the group after the latter's share price plunged 12.7% to 12 cents with some 4.2 million shares changing hands compared to its three-month volume average of 0.33 million.
SINGAPORE (Jan 16): Sino Grandness Food Industry Group, the producer and distributor of branded juices and canned fruits and vegetables, has revealed that it was served with a letter of demand on Jan 8 totalling $28.73 million.
In its reply to the Singapore Exchange (SGX) on Wednesday night, Sino Grandness says lender Soleado Holdings is demanding the group pays a total sum of US$21.2 million ($28.7 million) and $30,000 by no later than Jan 21.
