Home Cambodia Companies

Insolvent garment firm to liquidate its ink stock

Dec 28th at 09:46
28-12-2016 09:46:04+07:00

Insolvent garment firm to liquidate its ink stock

Local garment manufacturer Royal Crowntex International Inc (RCI) announced yesterday that it would hold a public auction for its unused fabric ink as the company looks to liquidate its assets after filing for bankruptcy in September.

The company said it would accept bids on the ink from December 27 to 31. RCI’s factory in Sihanoukville ceased production in June after its owner allegedly fled the country. In August, hundreds of workers claiming they had not been paid since May protested outside the company’s factory, urging local authorities to speed up the sale of assets to settle the alleged $2.4 million in salaries owed.

The auction announcement made no mention of factory machinery or other material assets.

phnompenh post

MOST READ

NEWS SAME CATEGORY

Chinese firm snaps up $49.2M in local assets
COMPANIES Dec 15th at 09:04

Chinese firm snaps up $49.2M in local assets

Shanghai-listed Guangzhou Yuetai Group will purchase $49.2 million in assets in Cambodia by buying a 45 percent stake in a local property development firm and a 19...

Revenue rises in Q3 at capital’s water firm
COMPANIES Dec 9th at 09:52

Revenue rises in Q3 at capital’s water firm

The capital’s listed water utility posted higher revenue against lower earnings during the third quarter of the year in a filing to the Cambodian stock exchange...

PPAP sees slight profit growth in first 9 months
COMPANIES Nov 18th at 08:19

PPAP sees slight profit growth in first 9 months

State-owned Phnom Penh Autonomous Port (PPAP) reported a slight uptick in revenue, growing from $11.3 million to $12.3 million during the first nine months of 2016...

GTI posts 122 pct surge in 3rd-quarter revenue
COMPANIES Nov 18th at 08:07

GTI posts 122 pct surge in 3rd-quarter revenue

Taiwanese-owned garment manufacturer Grand Twins International (GTI) posted a 122 percent surge in revenue for the third quarter of this year, compared with the...

NagaCorp looking to shore up extra $120M
COMPANIES Sep 2nd at 13:57

NagaCorp looking to shore up extra $120M

Casino operator NagaCorp Ltd aims to raise at least $120 million in net proceeds through a placing and subscription agreement that will see 190,000,000 shares sold...

GTI pins fall in Q2 profits on rising costs
COMPANIES Aug 31st at 08:12

GTI pins fall in Q2 profits on rising costs

Taiwanese-owned garment manufacturer Grand Twins International (GTI) blamed its second-quarter decline in profits, which fell by 45 per cent compared to the same...

Grand Twins sees revenue up, profit down
COMPANIES Aug 30th at 08:05

Grand Twins sees revenue up, profit down

Grand Twins International (GTI), the only publicly traded garment firm on the Cambodian stock market, reported that profits decreased by over 15 per cent...

PPSP reports decline in revenue, net profit
COMPANIES Aug 23rd at 13:15

PPSP reports decline in revenue, net profit

Industrial park operator Phnom Penh SEZ, which became the fourth company on Cambodia’s stock exchange when it listed in May, released its audited 2015 annual report...

Firms put out Q2 financial reports
COMPANIES Aug 18th at 10:51

Firms put out Q2 financial reports

Two of Cambodia’s four publicly listed companies released their financial reports for the second quarter of 2016 yesterday, with both showing moderately healthy...

Water supplier blames losses on forex rates
COMPANIES Jul 1st at 09:58

Water supplier blames losses on forex rates

Listed utility Phnom Penh Water Supply Authority (PPWSA) said in a filing to the Cambodian Securities Exchange (CSX) yesterday that a sharp decline in net profit...

Read More

MOST READ

Back To Top