London Biscuits receives notice of demand for RM9.83mil

  • Business
  • Wednesday, 03 Jul 2019

KUALA LUMPUR: LONDON BISCUITS BHD said on Wednesday that it has received a notice of demand (NOD) from Bank of Nova Scotia Bhd for the sum of RM9.83mil.

The company, in a filing with Bursa Malaysia today, said the NOD was due to the company's failure to pay the amounts due after the maturity dates under the facilities granted by the bank.

The default of the payment was May 10.

"Failure to pay was due to cashflow constraint," the company said.

London Biscuits said it is in talks with the bank and intends to submit a comprehensive proposal to restructure the loan facility.



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