Shuangyun Holdings (01706) issued an announcement. The High Court of Singapore issued an announcement on September 8, 2023 and 2023, respectively...
Zhitong Finance App News, Shuangyun Holdings (01706) issued an announcement. The Singapore High Court ordered the liquidation of the group's subsidiaries, namely Double-Trans Pte Ltd. and Samco Civil Engineering Pte Ltd., on September 8, 2023 and September 21, 2023, respectively. Since then, the Group has completely stopped its business operations, has not resumed business, or plans to resume due to forced liquidation.
I hereby refer to the Company's announcements of August 13, 2023, August 23, 2023, August 24, 2023, August 28, and September 20, 2023 relating to the liquidation of its subsidiaries and the appointment of liquidators for its subsidiaries. The two subsidiaries' designated liquidators are Deloitte & Touche LLP. To date, liquidators have continued their efforts to handle matters in the liquidation process of subsidiaries, including but not limited to realising assets, identifying liabilities, and investigating the causes of the company's collapse. As of today, the company has no clear plans to resume trading in its shares, so it hasn't begun preparing financial statements or taking any other steps, which are usually part of a recovery proposal. As a result, the group went bankrupt. The company will issue a separate announcement on any plans to resume work in due course.
Furthermore, trading of the company's shares continues to be suspended.