H2G Green, an energy company, has confirmed that its subsidiary, Green Energy Investment Holding Private Limited (GEIH), paid SG$540,000 to T T J Holdings Limited following a letter of demand regarding an alleged outstanding Sub-Contracting Entry Fee, according to a Wednesday filing on the Singapore Exchange.
This fee pertains to GEIH's role as a sub-contractor for T T J Greenfuel Pte. Ltd., as outlined in the sale and purchase agreement dated Aug. 15, 2023.
The demand, received on Sept. 19, also included requests for GEIH to cover additional costs incurred by the Vendor related to extending a banker's guarantee and a monthly fee of SG$40,000 starting in October 2024, until the completion of the proposed acquisition.
Following discussions with the Vendor, GEIH clarified the outstanding fee and made the payment on Sept. 23.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.