No legal actions have commenced yet, says Natural Cool in its June 10 SGX announcement.
It is in discussion with MLT to “work towards a mutually acceptable and amicable resolution to this matter.”
Natural Cool reported a loss of $5.6 million for FY2021 ended Dec 2021, reversing from earnings of $1.27 million for the preceding FY2020. The bottomline was partly weighed down by “other expenses” of $5.6 million, including impairment.
Revenue for the same period was $148 million, down 23.1% from FY2020.
See also: SGX gives approval-in-principle to FHT to delist
Natural Cool last traded at 3.9 cents, down 2.5% year to date, giving it a market value of $9.8 million.
MLT owns a portfolio of 183 properties valued at $13.1 billion as at March 31.
MLT last traded at $1.67, down 1.76% for the day and down 11.17% year to date.
