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Midas directors to travel to China to meet firm's subsidiaries

The move comes as the company seeks clarity on issues such as litigations and cash validation

Published Fri, Apr 6, 2018 · 09:50 PM

Singapore

BELEAGUERED railway-parts maker Midas Holdings said its board of directors will be travelling to China to meet the relevant subsidiaries next week to obtain relevant information, including cash validation, litigations and undisclosed subsidiaries.

This was because it did not receive full cooperation from the relevant staff in its Chinese subsidiaries Jilin Midas Aluminium Industries Co Ltd, Jilin Midas Light Alloy Co Ltd and Jilin Midas Investments Co Ltd.

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