China Taisan placed under judicial management

SINGAPORE'S High Court has approved China Taisan Technology Group's application to be placed under under judicial management.

Fabric maker, China Taisan, said that the court, on Tuesday, approved the appointment of Chia Soo Hien and Leow Quek Shiong of BDO LLP as the group's judicial managers.

China Taisun went into trading suspension in June after being placed on the distressed watch list for about a year.  Independent auditors RT LLP had raised significant doubts over the firm's ability to continue as a going concern over its audited financial statements for the year ended December 2016.