SINGAPORE (July 8): ST Group Food Industries says it has been informed by Papparich Group that two winding-up petitions have been filed against the latter, on Wednesday.
The petitions were filed by Chen Khai Voon, and Agathisfour in the High Court of Malaya on May 15, and May 22, respectively. The petitions are set to be heard on September 21, and November 3.
Papparich Group is ST Group Food Industries’ joint venture partner in relation to Papparich Australia. Papparich Australia is an indirect subsidiary of ST Group Food Industries.
According to ST Group Food Industries, the shareholders of Papparich Australia are STG Food Industries, a wholly-owned subsidiary of ST Group Food Industries, Papparich Group, and Agathisfour.
ST Group Food Industries says the petitions are not expected to have “any impact” on the business and operations of the group, and that it will still continue to hold the exclusive rights to the PappaRich brand and trademark in Australia and New Zealand.
Shares in ST Group Food Industries closed 0.2 cent lower, or 1.7% down, at 11.4 cents on Wednesday.
