Serrano director Chia Wing Hock declared bankrupt, removed from post
Add BT as a preferred source
A DIRECTOR of interior design contractor Serrano has been removed from his post after being declared bankrupt by the court, while bankruptcy proceedings for another director of the company have been postponed.
The Catalist-listed company filed a release saying the High Court had made a bankruptcy order against Chia Wing Hock, an executive director at Serrano, on Thursday. "Consequently, his office as a director of the company is vacated," it wrote.
In addition, he will also cease to be an executive director of the group with effect from Nov 17, 2016.
The bankruptcy proceedings were initiated by RHB Bank.
Another executive director, Chia Wing Keong, who is also chief executive officer of the company and brother of Mr Chia Wing Hock, is facing bankruptcy proceedings initiated by Bank of East Asia. Further proceedings have been adjourned until Dec 8.
Share with us your feedback on BT's products and services
TRENDING NOW
MAS eases family office tax rules, widens AML checks as Singapore vies for global wealth
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
SGX’s record year masks Singapore’s equities challenge
