The board of Anwell Technologies said it intends to make an application to the High Court to place the company under judicial management.
Anwell has engaged Stone Forest Corporate Advisory to act as its judicial managers.
One of its unit has had its assets seized and sold via public auction last year after it defaulted on its loans.
The assets of Henan Kerry Digital Co were sold to a trade creditor on June 27 last year for about 66.25 million yuan (S$14.6 million). Henan Kerry had owed about 94 million yuan in outstanding trade payables to the creditor.
It was among three China subsidiaries of Anwell that were reported in 2013 to have defaulted on their loans totalling HK$376 million (S$68 million).
Transit-Mixed Concrete has posted a 63 per cent jump in half-year net profit to $3.3 million.
Revenue for the six months to Aug 31 rose by 23 per cent to $17.1 million.
This was due mainly to an increase in concrete pumping sales arising from the increase in construction activities of infrastructure projects and private and public housing projects in Singapore and Malaysia.
Earnings per share swelled to 4.75 cents from 2.91 cents previously, while net asset value per share climbed to 36.19 cents compared with 31.76 cents as at Feb 28.
An interim dividend of two cents a share was declared, up from 1.5 cents last year.
GKE Corp has narrowed its net loss to $109,000 from $434,000 for the first quarter.
Revenue for the three months to Aug 31 fell by 9.8 per cent to $8.7 million, mainly due to the cessation of the business operations of GKE & Mohseng, the disposal of GKE Air Logistics in April and a fall in business volume handled by its local operations.
Nonetheless, the group is cautiously optimistic of its outlook.
Loss per share narrowed to 0.02 cent from 0.09 cent. Net asset value per share inched up to 12.21 cents compared with 12.14 cents as at May 31.