MTT Group’s Key Subsidiary Challenges US$45 Million Winding-Up Petition in Cross-Border Dispute

An announcement from MTT Group Holdings Limited ( (HK:2350) ) is now available.

MTT Group Holdings has issued a supplemental update on a winding-up petition filed in Hong Kong against its key subsidiary Tritech, which is facing an alleged claim of US$45 million relating to unpaid invoices. The High Court previously ordered Tritech to pay US$22.5 million into court as a condition for filing an affirmation in opposition, and Tritech has since applied for leave to appeal and a stay of that order, with a decision expected in early 2026; in parallel, Tritech has commenced legal proceedings in Singapore, asserting it has no obligation to pay the disputed invoices and that the Hong Kong petition breaches non-recourse and back-to-back payment provisions and an exclusive Singapore jurisdiction clause in the underlying agreements. The board maintains the petition is malicious and without merit, argues it does not constitute price-sensitive or inside information as it does not affect daily operations or key licences, and stresses that no winding-up order has been made, with Tritech remaining under the group’s control while the parties move toward proposed mediation in Singapore.

The most recent analyst rating on (HK:2350) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on MTT Group Holdings Limited stock, see the HK:2350 Stock Forecast page.

More about MTT Group Holdings Limited

MTT Group Holdings Limited operates through its Hong Kong subsidiary Tritech, which is principally engaged in the distribution of IT products and related IT implementation services. For the year ended 31 March 2025, Tritech contributed about 61.7% of the group’s HK$388.7 million revenue and accounted for 85.9% of total assets of approximately HK$435.1 million as at 30 September 2025, underscoring its central role in the group’s business and balance sheet.

Average Trading Volume: 2,102,916

Technical Sentiment Signal: Buy

Current Market Cap: HK$587.5M

See more data about 2350 stock on TipRanks’ Stock Analysis page.