Yongnam Applies for Discharge from Judicial Management, Winding Up

MT Newswires08-07

Yongnam (SGX:AXB) said applications have been filed with the High Court of Singapore for the discharge of the company and its subsidiary Yongnam Engineering & Construction from judicial management, according to a Tuesday filing on the Singapore Exchange.

The application also seeks a winding up order be made against the company and Yongnam Engineering, the filing said.

The court is set to hear the applications on Aug. 23.

The applications also request that the High Court appoint Messrs Toh Ai Ling, Tan Yen Chiaw, and Chan Kwong Shing, Adrian of KPMG Services as joint and several liquidators for both entities.

The trading suspension of Yongnam Holdings shares remains in effect since Nov 24, 2022.

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