SHUANG YUN HLDG: The liquidator is continuing to work on matters related to the liquidation process of its subsidiaries
SHUANG YUN HLDG announced that the Singapore High Court issued a liquidation order for its subsidiaries Double-Trans Pte Ltd and Samco Civil Engineering Pte Ltd in September 2023, and the group's business has completely ceased. The appointed liquidator Deloitte & Touche LLP is handling the liquidation matters, including asset realization and liability identification. The company has not yet formulated a plan to resume stock trading, and the shares remain suspended
According to the Zhitong Finance APP, SHUANG YUN HLDG (01706) announced that the Singapore High Court issued liquidation orders for the group's subsidiaries, 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 ceased its business operations and financial records. As it is still in the compulsory liquidation process, the business has not resumed or plans to resume.
The appointed liquidators for both subsidiaries are Deloitte & Touche LLP. So far, the liquidators are continuing to work on matters related to the subsidiaries' liquidation process, including but not limited to asset realization, identifying liabilities, and investigating the reasons for the company's bankruptcy. As of today, the company does not have a clear plan for the resumption of its stock trading and has not yet begun preparing financial statements or taking any other steps that are typically part of a resumption proposal. The company will announce any plans for resumption at an appropriate time.
In addition, the company's shares remain suspended