GRC Limited disclosed on Oct, 27 2025 that it and its wholly owned subsidiary, OKH Holdings Pte Ltd, were served on Oct, 24 2025 with a court application filed by the liquidators of Jadewin Smooth Limited (under compulsory liquidation) in the General Division of the High Court of Singapore.

The liquidators are seeking recognition of Jadewin’s Hong Kong liquidation under the UNCITRAL Model Law on Cross-Border Insolvency and are requesting orders that would compel GRC Limited and OKH Holdings to produce documents related to a 30 million Singapore dollars loan extended by Jadewin in 2016-2017, as well as to make an officer with knowledge of the transactions available for examination under oath.

GRC Limited reiterated that the debt was transferred to Haiyi Holdings Pte Ltd on Jun, 19 2018, when Jadewin executed deeds fully releasing the company from the obligation. The loan and accrued interest were repaid to Haiyi by Jun, 2022.

The company said it has “fully discharged its obligations” and is obtaining legal advice on the liquidators’ application. It added that Haiyi has issued a deed of indemnity, undertaking to cover any claims, costs or losses related to the Jadewin indebtedness. GRC Limited will update shareholders as developments arise.