Ryobi Kiso to potentially undergo judicial management

AN application has been filed for ground engineering solutions firm Ryobi Kiso Holdings and its unit Ryobi Kiso (S) to be placed under judicial management. 

Standard Chartered Bank also filed orders that interim judicial managers be appointed pending the hearing for that application. 

DBS Bank also appointed nTan Corporate Advisory as receivers for the money payable to or receivable by Ryobi Kiso (S) for certain project contracts.

The winding-up application against Ryobi Kiso (S) has also been adjourned and will be heard on a date to be scheduled by the court.

Ryobi Kiso shares are currently suspended.