China Printing & Dyeing Holding – Troubled China Printing & Dyeing Holding filed an application with the High Court of Singapore yesterday for the company to be placed under judicial management. 'The board is of the view that the company will be unable to pay its debts,' the company said. Shares of China Printing have been suspended since Oct 13, after news broke that its parent company Jianglong Holdings, which owns a 58 per cent stake, had gone bankrupt. Former chief executive Tao Shoulong and ex-deputy CEO Yan Qi then went missing, prompting the board to dismiss them and remove them as signatories to the group's bank accounts. The situation led to the cessation of the operations of Zhejiang Jianglong Textile Printing and Dyeing Co Ltd, the company's wholly owned subsidiary in China. Seeking judicial management will help to secure the survival of the company, as a whole or in part as a going concern, as well as obtain a more advantageous realisation of its assets compared with a winding up, China Printing said. The firm has also applied for an order from the Singapore High Court for Chay Fook Yuen and Tay Puay Cheng of KPMG Advisory Services Pte Ltd to be appointed as the interim judicial managers pending the making of a judicial management order or until further order.
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
SGX become conman platform !
- Thread starter madmansg
- Start date
What is new? What government you have is what businesses you get.
are you implying we have a gambling govt?
Such retribution comes a bit too late isn't it ???
What is new? What government you have is what businesses you get.
Similar threads
