Daya unit gets demand, repossession notices

PETALING JAYA: Daya Materials Bhd ’s subsidiary Daya Proffscorp Sdn Bhd has received a demand and repossession notices from Malayan Banking Bhd and MBSB for defaulting on installments for its hire-purchase facilities.

In a Bursa Malaysia filing, the company said the outstanding amount owed to Maybank is RM2,587.70, while the sum due to MBSB is RM122,156.07.

“Failure to pay was due to cash flow constraints that resulted in it not able to meet its payment obligations to pay Maybank and MBSB in a timely manner,” it said.