ACRA rejects Serrano's request to delay AGM

SINGAPORE - Interior design and furniture firm Serrano Ltd's request for an extension to hold its annual general meeting (AGM) from Nov 14 , 2017, to Feb 28, 2018, has been rejected by the Accounting and Corporate Regulatory Authority (ACRA).

The company said in a filing with the Singapore Exchange (SGX) on Tuesday (Nov 21) that it is appealing the decision, and will keep shareholders updated on the outcome.

Serrano had earlier obtained SGX's approval for the extension, which was conditional upon the company also obtaining approval from ACRA, among other requirements.

The company announced on Nov 7 that it was undergoing schemes of arrangement with its creditors, and had entered into an investment agreement with certain investors.

In July, the company announced that its group financial controller Yap Keck Meng had left the company, leaving the company with no accounts and finance staff.

The company's shares on the SGX have been voluntarily suspended since 9.39am on June 16, 2017.