Comments
Xstate Resources Limited (ASX: XST) (“Xstate” or “the Company”) provides the following update in
relation to its Singapore High Court action against Tanzil Hidayat (“Tanzil”), Chloe Kwok Yun Qing and
Hong Hung Thiam.
Xstate is continuing to take and remains committed to taking all available legal steps to pursue the
defendants for recovery of the judgment debt awarded in Xstate's favour.
Xstate is aware of recent social media reports stating that Tanzil is an undischarged bankrupt dating
from November 2013. Xstate was only recently made aware of this at about the time of Tanzil's
Examination of Judgement Debtor (“EJD”) process.
Xstate is investigating those various assertions in the social media and the motivation behind those
reports. In regard to Tanzil, Xstate is continuing to make enquiries and will pursue all legal
enforcement measures against Tanzil (and the other defendants) including in respect of their assets
not only in Singapore but worldwide.
Further, Xstate is exploring its possible rights of redress against those involved in the social media
reports and their publication. This may include but is not limited to the commencement of
defamation proceedings against the authors of the social media reports.
The Company will keep the market fully informed of any further changes.
New Feature Announcement!
We’re excited to introduce the DealRoom portal, now live on site, providing users with exciting access to private equity opportunities for both pre-IPO and publicly listed companies.
See full details by selecting the new menu item named 'DealRoom' on our main menu bar or click below.
Stay ahead of the market, with HotCopper.