PropNex unit hit with $367k lawsuit over alleged misrepresentation

Board says case unlikely to materially affect FY2026 results.

PropNex Limited announced that a lawsuit seeking $367,405 has been filed in the High Court of Singapore against its wholly owned subsidiary, PropNex Realty Pte. Ltd. (PRL), over an alleged negligent misrepresentation in a property transaction.

The claim alleges a breach of duty of care, with an alternative claim of vicarious liability, arising from the actions of a single PRL salesperson, according to a bourse filing.

PRL was named as one of three co-defendants in the suit, with the claimants seeking damages jointly and severally.

Meanwhile, the board added that the case is not likely to have a material impact on the group’s financial position or financial performance for the financial year ending 31 December 2026.

PropNex is in the process of obtaining legal advice and intends to defend the action.

Follow the link for more news on

PropNex

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia