Link: https://links.sgx.com/1.0.0/corporate-announcements/MV8FFNBCUEEF6QHS/d7a5d72380cb6aec1daa6a140eeba7b9b99d8c3ce74131154d1ecc0ece450380

Summary: 

Enviro-Hub Holdings Ltd has initiated legal action to recover MYR22,964,380 (≈S$6.95 million) from vendor Law Siau Woei (LSW) after its subsidiary, Pastel Glove Sdn. Bhd. (PGSB), failed to meet a profit guarantee tied to a 2021 acquisition. Key details:

• Profit Guarantee Shortfall: PGSB incurred a net loss of S$6.07 million in 2024 and cumulative losses during the 2022–2024 guarantee period, missing the S$23.4 million profit target.

• Partial Repayments: LSW fully covered 2022 losses (S$3.07 million) and partially repaid 2023 losses (S$891,000) but owes S$6.07 million for 2024 and adjusted 2023 liabilities.

• Legal Demand: A 9 June 2025 letter demands payment within seven days, threatening further legal recourse if unresolved.