Dragon Group Confirms Pursuit of Creditors' Voluntary Liquidation Amid Financial Struggles

MT Newswires

2024/08/20

Dragon Group International (SGX:MT1) has addressed SGX RegCo's queries about its announcement on liquidation, according to a Monday filing on the Singapore Exchange.

The company confirmed that its controlling shareholder, ASTI, did not proceed with an exit offer after receiving a delisting notice in June 2022.

Despite efforts, no new offers have been made. With liabilities of $13.6 million and insufficient assets, Dragon is pursuing creditors' voluntary liquidation as the only viable option.

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