Ryobi Kiso, subsidiary placed under interim judicial management

GROUND engineering solutions firm Ryobi Kiso on Friday said that the High Court, after hearing the interim judicial managers' applications, has ordered the company and its subsidiary, Ryobi Kiso (S) Pte Ltd, to be placed under interim judicial management, pending the determination of the judicial management applications.

Goh Thien Phong and Chan Kheng Tek from PricewaterhouseCoopers Advisory Services were appointed the joint interim judicial managers (JM) of the company and its subsidiary until the applications are determined, or until further order.

They are empowered and authorised to exercise all such functions, powers and duties which are exercisable by a JM, and can take steps as they deem appropriate to manage the business of the company and its subsidiary.

A pre-trial conference for the JM applications will be held on March 28 at the High Court of Singapore. The interim JMs will provide further updates on material developments as and when appropriate.