Sri Lanka’s Commercial Credit Singapore key shareholder under liquidation order

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ECONOMYNEXT – Sri Lanka’s Commercial Credit and Finance Plc said a Singapore firm has ordered its second largest shareholder, which owns 29.99 percent of the firm to be liquidated.

Cosimo Borell of Kroll Pte Ltd has been appointed Liquidator for Group Lease Holdings Pte Ltd, Commercial Credit said in a stock exchange filing.

However, Group Lease Public Company Limited (GL Thailand), the sole shareholder and secured creditor of Group Lease Holdings Pte Ltd, has appealed the decision.

“The operations of the company will not be impacted as of now by the circumstances detailed above, as Commercial Credit and Finance PLC has no financial or operational dependencies on Group Lease Holdings Pte Ltd or any of its related parties,” Commercial Credit and Finance Plc said.

Commercial Credit stock was trading down at 34.50 in intra day trading on Thursday. (Colombo/Apr18/2024)

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[[{“value”:” ECONOMYNEXT – Sri Lanka’s Commercial Credit and Finance Plc said a Singapore firm has ordered its second largest shareholder, which owns 29.99 percent of…

[[{“value”:” ECONOMYNEXT – Sri Lanka’s Commercial Credit and Finance Plc said a Singapore firm has ordered its second largest shareholder, which owns 29.99 percent of…