AsiaPhos Limited (SG:5WV) has released an update.
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AsiaPhos Limited has announced an update on the legal claim by Huili Jiahong Chemical Co., Ltd., with a new supplementary claim of approximately S$0.8 million, increasing the total claim to about S$2.2 million. The company’s funds frozen by the court remain unchanged at RMB7 million, and their lawyers are set to contest the new claim. The outcome is uncertain, but a successful claim could materially impact the company’s earnings per share and net tangible assets per share for the financial year ending December 2024.
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