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Mary Chia shares sink after SGX asks if firm can keep operating
The Straits Times
|May 16, 2026
Singapore Exchange Regulation (SGX RegCo) has queried beauty and wellness firm Mary Chia Holdings on whether it can continue operating as a going concern after legal proceedings were launched against the company and its related parties by a creditor in April.
Its shares sank after the news, with the stock down 8.7 per cent to 21 cents at the midday trading break on May 15.
The May 14 queries came after The Straits Times, citing disclosures filed with SGX, reported that Fullink Capital had initiated insolvency proceedings against Mary Chia Holdings, its subsidiary Organica International Holdings, founder and chief executive Ho Yow Ping and chief financial officer Su Jun Ming over money allegedly owed under financing agreements.
Insolvency proceedings are legal actions taken by a creditor when it believes the company it has lent money to may be unable to pay its debt.
The dispute is over a sum that Fullink Capital says Organica International owes under past loan and repayment arrangements.
Mary Chia has disclosed in exchange filings in April and May that Fullink Capital had originally lent Organica International a sum of $350,000, but following disputes relating to the loan repayments, Fullink Capital claimed the full outstanding amount as immediately due, together with late payment interest and other fees under the loan and settlement agreements. This sum amounts to $902,640.
This story is from the May 16, 2026 edition of The Straits Times.
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