SINGAPORE - An executive director of Z-Obee Holdings Limited has been disqualified from his position after a bankruptcy order was made against him.
Mr Wang Shih Zhen, 55, "has been automatically vacated" from this post with effect from Oct 28, Z-Obee announced today. This was because a bankruptcy order by the High Court of Hong Kong was made against him on Oct 28.
According to the bye-laws of the company, Mr Wang's position as executive director was "automatically vacated" upon the bankruptcy order made against him, Z-Obee said.
Z-Obee Holdings further announced that Mr Wang has also ceased to be the chairman, the authorised representative of the Company and the member of the nomination committee with effect from Oct 28.
Z-Obee said in a filing to the Singapore Exchange on Nov 20 that it was "recently aware" of the bankruptcy order. "By a gazette notice dated Nov 6 2015, it is confirmed that the bankruptcy order against Mr Wang was made on Oct 28, 2015," the company said.
Z-Obee added that Mr Wang "had not been contactable by any means since the date of the appointment of the Joint and Several Provisional Liquidators".
Trading in Z-Obee shares on the Singapore Exchange has been suspended since June 27, 2014.