SINGAPORE - Mainboard-listed cash company Jaya Holdings said on Wednesday (Oct 25) that it has submitted a proposal to the Singapore Exchange in relation to a proposed voluntary liquidation.

It had earlier received a delisting notification from the bourse operator as it does not have any underlying business.

Jaya will be convening an extraordinary general meeting to approve the liquidation and the appointment of a liquidator. A circular setting out details will be dispatched to shareholders in due course, it said.

Trading of the Jaya's securities will continue until 5.05pm on Nov 1. Trading will then be suspended until completion of the delisting.