Ntegrator Holdings (SGX:WVJ) and its subsidiary, Ntegrator Pte Ltd, received letters of demand from DBS Bank on Sept. 23 for SG$385,872 due under a loan agreement, according to a Thursday filing on the Singapore Exchange.
The bank seeks payment within seven days, including interest and legal costs, the filing said.
As of Sept. 30, Ntegrator has not defaulted on repayments, but DBS has accelerated the loan balance and declared an event of default due to pending winding-up applications against the company and Ntegrator Pte Ltd.
Ntegrator is negotiating a new repayment plan with DBS.
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