The Business Times
business-time-50

Yangzijiang Shipbuilding unit faces US$4.8m winding-up petition

google-preferred-sourceAdd BT as a preferred source
Tay Peck Gek

Tay Peck Gek

Published Fri, Jan 6, 2023 · 06:28 PM
    • Trinity Seatrading’s application originates from a dispute for the sale of an oil tanker by Yangzijiang Shipping to Trinity Seatrading.
    • Trinity Seatrading’s application originates from a dispute for the sale of an oil tanker by Yangzijiang Shipping to Trinity Seatrading. PHOTO: ST FILE

    A COMPANY has applied for the winding up of a subsidiary of listed Yangzijiang Shipbuilding and is seeking an alleged debt amount of US$4.8 million.

    Trinity Seatrading, a Liberian company, stated in an advertisement published on Friday (Jan 6) that it had on Dec 23, 2022, in the capacity of a creditor, made an application in the Singapore High Court to wind up Yangzijiang Shipping.

    In a bourse filing on Sunday, Yangzijiang Shipbuilding said the claim originated from a dispute for the sale of an oil tanker by Yangzijiang Shipping to Trinity Seatrading.

    Yangzijiang ShipbuildingLiquidation

    TRENDING NOW

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The company says the disputes do not cast significant doubt on its ability to continue as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    The planned DayOne data centre is expected to be the city-state’s first to feature on-site solid oxide fuel cell power generation.

    DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More