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MMP Resources says typo error corrected in application filed to wind up company

Monday, October 17, 2016 - 08:31

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MAINBOARD-LISTED MMP Resources on Monday said that Edward Lee Ewe Ming has filed a second affidavit with the Singapore High Court to correct a "typographical error" in an application to wind up the company.

MAINBOARD-LISTED MMP Resources on Monday said that Edward Lee Ewe Ming has filed a second affidavit with the Singapore High Court to correct a "typographical error" in an application to wind up the company.

The error is in the amount which Mr Lee claimed the company has failed and/or refused to pay or satisfy a sum. The amount was previously S$5.22 million. It was corrected to S$30,000.

MMP reinforced that it is disputing Mr Lee's claims and will "be vigorously opposing the application".

MMP added that it is in the process of a forensic audit and may use the results of such forensic audit to oppose the application

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On Oct 7, MMP announced that Mr Lee has filed an application to wind up the company on the basis that the company has failed and/or refused to pay or satisfy a sum of about S$5.22 million demanded or to make any offer to secure or compound the same.

The Court has made directions for the application to be heard on Oct 28. MMP Resources had then said that it has engaged a consultant to undertake a comprehensive forensic audit with a focus on events in 2014 and early 2015, and may use the results of such forensic audit to oppose the application.

MMP, representing Mechanism for Mass Produced, is a construction-focused business that targets undervalued or depressed regional and international cash flow generating assets.

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