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KS Energy directors, CEO, resign following appointment of judicial managers

Felicia Tan
Felicia Tan10/14/2020 07:01 PM GMT+08  • 2 min read
KS Energy directors, CEO, resign following appointment of judicial managers
According to an SGX filing, the costs of the application will be paid out of the assets of KS Energy and KS Drilling.
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KS Energy’s executive director and CEO Richard James Wiluan, along with the company’s independent directors Chew Choon Soo, Lawrence Stephen Basapa and Soh Gim Teik have resigned on Oct 13.

The news comes after the appointment of judicial managers, Andrew Grimmett and Lim Loo Khoon of Deloitte & Touche, on the same day.

On Oct 13, KS Energy announced that the company and KS Drilling will be placed under judicial management. The High Court previously granted OCBC Bank’s application to place KS Energy and KS Drilling under judicial management on Aug 31.

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