Ezra Holdings: To be placed in liquidation

Singapore one-dollar bill, showing Chinese junk boatsSingapore one-dollar bill, showing Chinese junk boats

Ezra Holdings said Friday its judicial managers filed on 30 December 2021 to place the company in liquidation, saying there is no longer any prospect it can continue as a going concern.

“Despite the judicial managers’ efforts for the past 18 months to pursue potential investments into the company to realise the company’s listing status, there has been a lack of progression with the discussions with the potential investors and the company has not been able to enter into any binding term sheets with any potential investor,” a filing to SGX said, citing the judicial managers’ reasoning.

“In the absence of any proposed investments, there is unlikely to be any real prospect of the company entering into a scheme of arrangement with its creditors to resolve its liabilities,” the added.

The judicial management process can not achieve a better realisation of Ezra’s assets than a liquidation, the filing said.

The filing said the court fixed a hearing for 21 January.