Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.
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.
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