PropNex sued in Singapore High Court over alleged negligent misrepresentation

SGX Filings11-05

PropNex Limited said its wholly owned subsidiary, PropNex Realty Pte. Ltd., has been named as one of three co-defendants in a lawsuit filed in the High Court of Singapore.

The claimants are seeking about 0.59 million Singapore dollars in damages, alleging breach of duty of care and vicarious liability linked to an allegedly negligent misrepresentation by a PropNex Realty salesperson in a property transaction.

The company stated it is obtaining legal advice and intends to “vigorously” defend the action. PropNex added that it does not expect the suit to materially affect the group’s financial position or performance for the year ending Dec, 31 2025, and said it will provide updates on any material developments.

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