(Corrects the company name, ticker, and associated symbol to LY Corp. (SGX:1H8) in the headline and first paragraph)
LY Corp. (SGX:1H8) said its 51%-owned subsidiary, Leyo Holdings, received a demand letter from Synergy House Furniture for a royalty payment of 823,395 ringgit.
Additionally, LY Corp. unit LY Furniture 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, according to a Monday filing on the Singapore Exchange.
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