Asahi Glass Co., Ltd. has decided to liquidate its Singapore-based subsidiary Asahi TV Glass Pte., Ltd. The company stopped sales of CRT glass in Singapore in December 2007 as part of a restructuring …
Asahi Glass Co., Ltd. has decided to liquidate its Singapore-based subsidiary Asahi TV Glass Pte., Ltd. The company stopped sales of CRT glass in Singapore in December 2007 as part of a restructuring plan in view of the decline in demand for CRT glass, and has now decided to liquidate the subsidiary. Founded in January 1979, Asahi TV Glass Pte., Ltd has a capital of SGD 6,192,000, wholly-owned by Asahi Techno Vision Pte,. Ltd. As of 31 March 2008, there were no employees. The shareholder resolution to liquidate the company is scheduled for 30 April 2008 and the liquidation is planned to take place in the 2H 2009. The operation will have a negligible effect on the parent company“s non-consolidated and consolidated operating results.