SGX mandates delisting of YuuZoo Networks Group

Based on public records, the company is “dissolved."

SGX has mandated the immediate delisting of YuuZoo Networks Group (YuuZoo), effective Friday, 12 July at 9 am.

The company has been suspended from trading since 19 March 2018 and has not released any financial reports since 14 February 2019.

Since then, the company has not submitted any acceptable or satisfactory proposals to SGX RegCo for trading resumption.

SGX reported that the company is "dissolved" based on public records.

YuuZoo’s former CEO, James Matthew Somasundram, was fined $35,000 in June for negligence and overstating the company revenue in financial reports between 2015 and 2016 by $6.2m (US$4.6m) to $24.5m (US$18.8m).

Four company officers — Thomas Zilliacus, Michael Parker, Anthony Williams, and Ozi Amanat — received arrest warrants for releasing misleading statements.

INTERPOL also issued a Red Notice for Zilliacus, the CEO and executive chairman at that time.