Creditors of troubled timber flooring maker Jason Holdings have filed an application to wind up the company.
The company received a statutory demand from the solicitors of ANZ Bank for a claim of about $1.74 million in September.
As payment was not made within 21 days of the statutory demand, ANZ filed a winding-up application on Thursday last week. Jason Holdings was served the application on Monday. The application will be heard on Dec 2 in the High Court.
The firm advised shareholders to exercise caution when dealing in its shares and said it will make announcements when there are material developments.
The joint venture company of train aluminium body maker Midas Holdings has secured four new metro train car supply contracts worth 2.59 billion yuan (S$530 million).
The contracts are expected to contribute to the group's financial performance for the 2017 to 2019 financial years.
The latest orders mean that the joint venture, CRRC Nanjing Puzhen Rail Transport, has accumulated around 7.17 billion yuan in new projects this year, said Midas chief executive Patrick Chew in a statement yesterday.
Midas has a 32.5 per cent stake in the joint venture, which makes trains, bogies and related parts.
Piping systems provider CosmoSteel Holdings recorded a fourth-quarter net loss of $6.6 million, reversing a net profit of $1 million a year earlier.
Revenue plunged 44.3 per cent to $13.5 million in the three months to Sept 30, mainly because of a decrease in turnover from customers in the energy sector due to the oil supply glut, the company said.
Revenue from these customers fell by $7.3 million or 44.8 per cent over the corresponding quarter last year.
Loss per share was 2.27 cents for the quarter, from earnings per share of 0.37 cents a year ago.
Net asset value per share was 39.68 cents as at Sept 30, from 42.23 cents on the same date last year.