SINGAPORE – Singapore Exchange Regulation (SGX RegCo) has queried beauty and wellness firm Mary Chia Holdings on whether it can continue operating as a going concern after legal proceedings were launched against the company and its related parties by a creditor in April.
Its shares sank after the news, with the stock down 4.4 per cent to 2.2 cents on May 15.
The May 14 queries came after The Straits Times, citing disclosures filed with SGX, reported that Fullink Capital had initiated insolvency proceedings against Mary Chia Holdings, its subsidiary Organica International Holdings, founder and chief executive Ho Yow Ping and chief financial officer Su Jun Ming over money allegedly owed under financing agreements.
Insolvency proceedings are…