E-COMMERCE solutions provider Synagie Corporation announced after trading hours on Wednesday that it has commenced legal proceedings against a third-party service provider for a breach of contract in Singapore's High Court and is claiming a sum of S$751,971.25.
In response to the claim, the third-party service provider has filed a counterclaim against Synagie on June 14, 2019 for a breach of the same contract and is claiming a sum of S$1.17 million. The parties are concurrently making an attempt at resolving the disputes by way of mediation through the Singapore Mediation Centre which has been scheduled for early-2020.
In a bourse filing, Synagie said that it has been advised by its litigation counsel that any disclosures on the claims, including particulars of the name of the third-party service provider and the nature of the service provided, would have an"adverse impact on the chances of parties entering into the mediation and at this juncture".The company said that it will make further announcements as and when there are material developments in this matter.
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