NauticAWT Faces Compulsory Liquidation

MT Newswires

2024/11/13

NauticAWT (SGX:42D) is facing compulsory liquidation after majority controlling shareholder Chirasek Chiyachantana lodged a winding-up application against the company, according to a Singapore Exchange filing on Tuesday.

The shareholder is also seeking the appointment of Ng Hoe Kiat Keith as the company's liquidator.

The company acknowledged that it is currently in a negative equity position and has insufficient funds to initiate a voluntary liquidation.

NauticAWT's board has decided not to contest Chirasek's application for winding up, the filing said.

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