Technics Oil & Gas has judicial management extended till July 15

SINGAPORE - The Singapore High Court has extended the Judicial Management Order for Technics Oil and Gas until July 15 this year, the company said in an update.

Tam Chee Chong and Andrew Grimmett, both of Deloitte & Touche, were first announced as the joint judicial managers (JMs) on July 25, 2016.

However, Mr Tam has now been released as judicial manager with effect from Jan 15 due to his retirement from Deloitte.

Mr Grimmett will continue to act as the sole judicial manager.

Among other things, he will manage the role, business and property of the company to achieve its survival as well as "a more advantageous realisation of the company's assets than would be effected on a winding up", Technics said in a filing to the Singapore Exchange on Thursday (Jan 18).