Mary Chia Holdings Limited Issues Key Update on Statutory Demand and Legal Actions

Overview

Mary Chia Holdings Limited (the Company), together with its subsidiaries (the Group), has announced receipt of a statutory demand from Fullink Capital Pte. Ltd. on 19 March 2026. This demand, dated 17 March 2026, relates to an alleged sum of S\$902,640.35 claimed by Fullink, stemming from loans provided to Organica International Holdings Pte. Ltd., the Company’s wholly-owned subsidiary. Mary Chia Holdings had provided a corporate guarantee for these loans.

Key Points from the Announcement

• Statutory Demand Received: The Company is facing a statutory demand for S\$902,640.35, a figure that includes principal, late payment interest, and other components arising from loan agreements and settlement arrangements.
• Loan Details: Organica International Holdings Pte. Ltd., the Borrower, obtained loans totaling approximately S\$350,000. Disputes over repayment have led Fullink to claim that the entire outstanding sum, with accrued interest and other charges, is now immediately payable.
• Dispute Over Quantum: The Company disputes the quantum of the claimed amount, particularly regarding certain interest components, and is actively taking legal steps to protect its interests.
• Legal Actions Initiated:
  • Mary Chia Holdings, via its solicitors, proposed a resolution involving payment of approximately S\$354,379, which reflects their calculation of interest. This proposal was rejected by Fullink on 25 March 2026.
  • The Company is preparing to file an application with the Singapore Court for declaratory relief regarding the enforceability of certain components of Fullink’s claim.
  • Ongoing legal correspondence between solicitors continues as of 10 April 2026.
• No Winding-Up Application Filed: As of the announcement date, no winding-up application has been filed against Mary Chia Holdings Limited.
• Uncertain Financial Impact: The financial impact of the statutory demand on the Group is currently undetermined, as the matter is subject to ongoing legal proceedings and negotiations.

Potential Price-Sensitive Information

Investors and shareholders should note several important factors:

• Large Financial Exposure: The claimed amount (S\$902,640.35) is significantly higher than the original loan amount (S\$350,000), primarily due to disputed interest and other charges, which could have a material effect on the Company’s financial position.
• Legal Uncertainty: The outcome of legal proceedings, including the Company’s application for declaratory relief, remains unknown and may materially impact the Group’s liabilities and financial results.
• Active Dispute: The Company is contesting the claim, which introduces uncertainty and potential volatility in share price, depending on how the dispute is resolved.
• Risk of Further Action: Although no winding-up petition has been filed yet, the statutory demand is often a precursor to such action. Investors should monitor for further developments closely.

Guidance for Shareholders and Investors

The Company strongly advises shareholders and potential investors to exercise caution when dealing in its securities. They should refrain from taking any action that may prejudice their interests until further information is available. In case of uncertainty, consulting professional advisers (stockbrokers, bank managers, solicitors, or accountants) is recommended.

Mary Chia Holdings will provide further updates when material developments occur.

Conclusion

The statutory demand and ongoing legal proceedings represent a potentially significant and price-sensitive development for Mary Chia Holdings Limited. The final outcome, including possible financial impact and legal consequences, remains uncertain and could affect the Company’s share value. Investors should stay updated and exercise caution.

Disclaimer: This article is based on the Company’s official announcement and does not constitute investment advice. The information herein may be subject to change as legal proceedings and negotiations continue. Investors should consult professional advisers and consider all risks before making investment decisions.

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