Libra Group's going-concern status crippled by claims

Singapore

CATALIST-listed Libra Group announced on Tuesday that it will not be able to continue as a going concern, as stipulated by Catalist rules, due to various claims that have been filed against two subsidiaries of the company.

The mechanical and electrical engineering firm said its board has recommended that its shares be suspended from trade, with immediate effect, to "ensure that no person is trading in the shares of the company without sufficient information that is required to enable such a person to make an informed decision".