KUALA LUMPUR: Sumatec Resources Bhd has received a notice of demand for RM144.95mil as guarantor after its associate Semado Maritime Sdn Bhd defaulted on its loan payment due to Bank Pembangunan Malaysia Bhd.
Sumatec told Bursa Malaysia on Wednesday it had received the notice of demand as guarantor from Messrs Joseph & Partners by virtue of the judgement obtained against Semado.
“We are in the process of seeking legal advice,” it said.
Sumatec, which is involved in oil and gas services, posted net losses of RM2.33mil in the second quarter ended June 30, 2017 compared with earnings of RM9.86mil a year ago.
In the first half, it posted net losses of RM3.08mil in contrast with net profit of RM12.11mil a year ago.
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