The hearing for the winding up application against NauticAWT (SGX:42D) filed by majority and controlling shareholder Chirasek Chiyachantana has been adjourned to Jan 17, 2025, a filing with the Singapore Exchange said on Monday.
The company has been informed that the judicial commissioner presiding the hearing is willing to grant a winding up order which is subject to Chiyachantana's solicitors filing a memorandum of winding up.
According to a previous filing, the company acknowledged that it is currently in a negative equity position and has insufficient funds to initiate a voluntary liquidation.
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