PropNex unit clears legal hurdle as claimants drop $586k lawsuit

The claim involved alleged negligent misrepresentation and breach of duty of care.

PropNex Limited said claimants have discontinued and withdrawn a lawsuit filed against its wholly owned subsidiary, PropNex Realty Pte. Ltd., which involved allegations of negligent misrepresentation in a property transaction.

In a bourse filing, the company said the update relates to its earlier voluntary announcement on 5 November 2025, when the suit was first disclosed. PropNex Realty had been named as a co-defendant.

The claimants had sought $586,172 in damages for alleged breach of duty of care and/or vicarious liability arising from the actions of a salesperson involved in the transaction.

PropNex said the withdrawal of the suit will have no material impact on the group’s financial position and performance for the financial year ending 31 December 2026.

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