Seacera gets letter of demand for RM18.3m

Seacera Group Bhd, which has become a Practice Note 17 company, saw 22.91 million of its shares crossed in an off-market deal on Monday.

KUALA LUMPUR: Secera Group Bhd has received a letter of demand from AmBank Islamic Bhd, demanding payment of RM18.30mil including future profit over the loan facilities taken by its unit.

Secera said on Thursday it was the guarantor for the loans  taken by Seacera Ceramics Sdn Bhd.

AmBank Islamic was demanding the payment for the total amount outstanding and due payable under the Murabahah Tawarruq rerm Financing-I and Cashline-I.

“The company is required to settle full settlement within seven days from June 19, failing which AmBank Islamic shall proceed with necessary action as deemed fit and all costs to be incurred by the company.

“The company is seeking legal advice on the matter,” it said.