Adding to above news about Del Monte Pacific being flagged by SGX on going-concern queries after a US$589.9M net capital deficit.
It is sad to see another SGX veteran, an old bird, to come to this stage. Its previous failed U.S. acquisition that led to bankruptcy, leaving the parent insolvent with negative equity of ~$589 million and just $8 million in cash.
At the end of the day, major strategic decisions by top management make all the difference. One wrong turn and that’s it. Pray for their recovery 😢
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.