London Biscuits gets notice of demand

PETALING JAYA: London Biscuits Bhd has received a notice of demand from Bank of Nova Scotia Bhd for the sum of RM9.83mil.

The company said in a filing with Bursa Malaysia yesterday, that the demand 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 on May 10.

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

London Biscuit’s shares closed unchanged at 31 sen yesterday.

Source: TheStar