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Aspen Unit Faces Winding Up Petition Over MYR3 Million Construction Claim

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Aspen (SGX:1F3) said a winding-up petition was filed against its unit, Aspen Vision Builders, by contractor Proventus Bina over a disputed 2.7 million ringgit construction claim, according to a Monday Singapore Exchange filing.

The unit is challenging the claim through ongoing arbitration and appeals after an adjudication awarded the contractor the amount plus interest and costs.

Aspen Vision Builders has deposited 3.6 million ringgit with its solicitors as stakeholder funds, and said it will vigorously oppose the petition.

The group does not expect a material financial impact, it said.

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