LY (TYO:4689) said its 51%-owned subsidiary, Leyo Holdings, received a letter of demand from Synergy House Furniture for a royalty payment of 823,395 ringgit, according to a Monday filing on the Singapore Exchange.
The demand pertains to payments made up to the date of the letter.
Additionally, LY Corporation's subsidiary, LY Furniture, has initiated a claim against Xin Hwa Trading & Transport for missing inventory valued at $78,889, held in a Xin Hwa warehouse. Xin Hwa has countered with a claim for 311,501 ringgit in outstanding warehousing fees.
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