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PEC unit placed under creditors’ voluntary liquidation

A UNIT of PEC has been placed under creditors' voluntary liquidation starting June 28, the plant and terminal engineering specialist said in a Singapore Exchange filing.

This followed a resolution passed at the extraordinary general meeting of that subsidiary, Enerz Engineering, and confirmation by the creditors, both of which took place on June 28.

"It cannot by reason of its liabilities continue its business or carry on as a going concern," PEC said.

The liquidator is Yiong Kok Kong. The company said the voluntary liquidation is not expected to have any material impact on the consolidated net tangible assets and earnings per share and none of the directors or substantial shareholders of the company has any interest, direct or indirect, in the liquidation.

PEC shares closed one Singapore cent higher at S$0.60 on Friday before the announcement was made.

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