KUALA LUMPUR: Seacera Group Bhd 's unit has received a letter of demand from AmBank Islamic Bhd seeking payment of RM19.2mil. The tile maker said on Tuesday the demand of payment included the future profit of total amount outstanding and due payable under the murabahah tawarruq term financing-I and cashline-i. It told Bursa Malaysia Seacera Ceramics Sdn Bhd received the demand letter dated May 15 and has to settle the amount within seven days. The company is seeking legal advice on the matter.

Source: The Star May 21, 2019 06:00 UTC