No Signboard places Danish Breweries into creditors’ voluntary liquidation

The company said its subsidiary has been having cash flow problems.

No Signboard Holdings has placed its wholly-owned wholly-owned subsidiary, Danish Breweries Pte Ltd, into creditors’ voluntary liquidation (CVL) as the beer distributor cannot “by reason of its liabilities continue its business.”

In a bourse filing, No Signboard said its subsidiary has been having cash flow problems and was unable to pay its debts, thus the move to place it in CVL.

Chan Yee Hong, licensed insolvency practitioner from Nexia TS Risk Advisory Pte. Ltd., has been appointed as the provisional liquidator for Danish Breweries. The subsidiary’s shareholders and creditors are expected to confirm his appointment at a creditors' meeting on 12 April 2022.

The CVL will "contribute positively" to its consolidated net tangible assets (NTA) and earnings per share of No Signboard and its subsidiaries for the current financial year ending on 30 September 2022.

Follow the link for more news on

No Signboard

creditors’ voluntary liquidation

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia