Brief: Alco Says Received Winding Up Petition Against Unit

Alco Holdings

17/02/2023 01:30

Feb 17 (Reuters) - Alco Holdings  0328.HK :
    * ON 15 FEB CO RECEIVED A WINDING UP PETITION FILED BY CHING
KUNG
METAL PRODUCTS MANUFACTORY LIMITED AGAINST UNIT
    * WINDING UP PETITION AGAINST ALCO ELECTRONICS LIMITED
    * EXCEPT FOR PETITION AGAINST AEL, OPERATIONS OF HOLDING CO
AND
OTHER FELLOW UNITS HAVE NOT BEEN AFFECTED AND ARE OPERATING
NORMALLY
    * RECEIVED WINDING UP PETITION ON BASIS OF "ALLEGED FAILURE"
BY CO
TO SETTLE JUDGMENT AMOUNT OF HK$9.4 MILLION, TOGETHER WITH
INTEREST & COST
    * HAS ENGAGED LEGAL COUNSEL TO ACT FOR AEL
    * EXCEPT FOR PETITION AGAINST AEL, OPERATIONS OF HOLDING CO
AND
OTHER FELLOW SUBSIDIARIES HAVE NOT BEEN AFFECTED AND ARE
OPERATING NORMALLY

Further company coverage:  0328.HK 
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