Winding-up application against Chinese Global Investors withdrawn

CATALIST-LISTED Chinese Global Investors Group, which was slapped with a winding-up application after its former chief financial officer (CFO) claimed tens of thousands of dollars in unpaid salary, has seen the application pulled after the company ponied up.

The High Court ordered the withdrawal of the Nov 14 winding-up application against the investment-holding group on Dec 13, the board of directors said in an update three days later, as Chinese Global Investors Group had paid the sum of about S$42,300 to Kemmy Koh.

Lawyers for Ms Koh, who was Chinese Global Investors Group's CFO from May 2011 to July 2019, had filed two statutory demands in October - first for S$41,958.12, then for S$42,079.51.

She sought the payment of her salary for the April-to-July period, including Central Provident Fund contributions and interest, having cited "unpaid remuneration due from the company" for her departure.

Trading in the company's shares has been suspended since October 2018.