Little-known fintech player eyes struggling JES International's listing status

(Aug 26): JES International Holdings, a once actively traded Chinese shipbuilder, has been under judicial management since February as it struggled with debt. It owes two major creditors $5.1 million and $2.2 million each. It no longer generates any revenue, yet incurred losses of RM313,000 ($103,627) in its most recent earnings report for the quarter ended Sept 30, 2018. An earlier attempt to restructure the company by acquiring Malaysian investment holding company Maya Asia Resources fell through in September 2017. The company’s shares, which traded as high as 78.5 cents in 2007, last traded at 2.6 cents. Trading has been suspended since 2015.