Judicial management for Hiap Seng and unit extended
THE period of judicial management for both Hiap Seng Engineering and its subsidiary has been extended another six months to Sept 14.
Both their applications to extend the judicial management order were granted by the High Court on Monday.
Last October, Hiap Seng Engineering's subsidiary, Hiap Seng Engineering (Thailand) Co, entered into a conditional sale and purchase for the disposal of its office building and factory, as well as various furniture, office equipment and machinery, for 300 million Thai baht (about S$13.3 million).
Hiap Seng Engineering's executive director for finance also resigned to "pursue his other personal interests".
Trading in Hiap Seng's shares has been suspended since November 2019.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention