Grand Ming Unit Faces Winding-Up Petition Over Unpaid Invoices; Shares Slip 7%

MT Newswires Live

Mar 16

Grand Ming (HKG:1271) said a winding-up petition has been filed against its wholly owned subsidiary Grand Tech Construction by Jardine Engineering Corporation in Hong Kong, according to a March 13 Hong Kong bourse filing.

Shares of the property developer fell over 7% in midday trade on Monday.

The petition, filed on March 10 in the High Court of Hong Kong, relates to outstanding payments totaling HK$14.7 million under three invoices linked to two subcontract agreements for generator and fuel system works.

A hearing is scheduled for May 27, the filing said.

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