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OEL Holdings receives winding up order for wholly-owned unit OSEC

OEL Holdings said it has received an order from the Singapore High Court on Jan 6 for the winding up of wholly-owned OSEC Shipyard PteĀ Ltd following an application in December.

Leow Quek Shiong and Gary Loh Weng Fatt of BDO LLP have been appointed as the joint and several liquidators (JSLs) of OSEC with effect from Jan 6.

OEL's share price rose 0.3 Singapore cents or 23 per cent on Monday to finish at 1.6 Singapore cents.