MAGNUS Energy Group on Thursday said it is unaware of a person named Thong Soon Seng, whom the company allegedly owes some S$5.1 million including interest, following a letter of demand received by the company. Read more at The Business Times.
including interest, following a letter of demand received by the company.
"There was no documentation of loans or any transactions with Mr Thong, nor any mention of Mr Thong's name in any of the company's records. As at the date of this announcement, the company and its board do not know who Mr Thong is, nor has it found any records of transactions of any kind with Mr Thong," the oil and gas firm said in response to the Singapore Exchange's queries on who Mr Thong is, and his relationship with the company.
According to the letter of demand, it is understood that the principal amount allegedly received by the company was S$4 million. Based on the bank statements retrieved by the board for the months of September and October 2016, Magnus Energy noted that amounts totalling S$4 million were deposited in Magnus' bank account on or about the dates alleged. Notwithstanding, the statements do not provide details on who the payment is from, or the bank account name and number, Magnus Energy said.
The company has requested from the bank copies of the alleged cheques which correspond to the dates in the letter of demand. According to the bank statements, Magnus Energy noted that there were cheque deposits of S$1 million on Sept 14, 2016, S$2 million on Oct 7, 2016, and another S$1 million on Oct 10, 2016 into Magnus Energy's bank account.
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