Gelonghui August 14th 丨Shuangyun Holdings (01706.HK) issued an announcement. The company notes that DBS Bank Limited (the “Petitioner”) filed an original lawsuit against Double-Trans on August 11, 2023, in the High Court of the Republic of Singapore (“High Court of Singapore”) against the Company's wholly-owned subsidiary, Double-Trans Pte Ltd. (“DoubleTrans”), for failing to pay an outstanding amount due. The High Court of Singapore has set the date of the first hearing on September 1, 2023.
The Company and Double-Trans intend to continue to proactively communicate and cooperate with creditors on the restructuring plan. At the same time, the Company and Double-Trans will endeavour to maintain communication with the petitioner, and will negotiate and properly handle related matters with the petitioner in accordance with the principle of fairness to other creditors.