Medtecs International Corporation Ltd. (SG:546) has released an update.
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Medtecs International Corporation Ltd. has initiated a legal process to wind up its indirect majority-owned subsidiary, Resilient Medical, after the latter failed to settle its outstanding debts. The company filed an application with the Singapore High Court, proposing Wong Pheng Cheong Martin as the liquidator. The financial impact on Medtecs, including its net tangible assets and earnings per share, is still being assessed.
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