DyStar Clarifies Misconceptions Regarding Receivership/Sale of DyStar Shares

Date:

Singapore – DyStar Group issues this statement to clarify any misconceptions regarding the recent appointment of receivers over the enbloc sale of the shares in DyStar.

  1. For clarification, the court appointment of receivers is solely for the purpose of facilitating an enbloc sale of the shares in DyStar.
  2. It is important to emphasize that this action does not lead to any change in DyStar’s ongoing business operations, and the Company is still fully managed and run by its management team.

We would like to reassure all stakeholders and interested parties that DyStar is in a strong financial position. The Company is not experiencing any shortage of funds, is cashflow self-sufficient, and does not depend on external borrowing.

Furthermore, it should be noted that the decision to pursue the enbloc sale stems from Senda’s inability to afford the buyout of Kiri’s shares in DyStar and does not indicate any financial challenges within DyStar itself. In essence, the sale is intended to enable the disputing shareholders to amicably part ways.

Mr. Xu Yalin, Managing Director, and President of DyStar Group said, “The recent appointment of receivers over DyStar’s shares is purely a procedural step aimed at facilitating an enbloc sale and does not reflect any financial distress within the company. Our reserves speak to our robust financial health, and we are fully committed to maintaining our operational excellence and serving our customers with the same level of dedication and quality they have come to expect from DyStar.”

DyStar remains committed to transparency and ensuring accurate information reaches all our stakeholders and interested parties.

Bhargav Pathak
Bhargav Pathakhttps://textilesresources.com
www.textilesresources.com is not just a blog, but it is my passion towards textile/apparel/fashion industry. After having studied at NIFT (National Institute of Fashion Technology) at Gandhinagar campus, and associated with NDBI (National Design Business Incubation) at NID (National Institute of Design) Ahmedabad campus, I started my long journey into this field. Since 2006, I had worked for various corporates either into B2B, B2C, SaaS or AI base products/concept/services related to mostly textiles/apparel/fashion industry, and having main responsibilities are sales/revenue generator and bd. During July2023, a thought came in my mind to launch a knowledge-based website, you can also call it a blogging site, wherein users can read latest news and happenings and articles about global textiles/apparel/fashion and stay abreast. At the moment, this site is having mainly two features: News and Articles, going forward I shall also add Interviews (text/audio/video) Trade Fair calendar (this calendar is being updated as per the organizers schedule, however I request to crosscheck with organizer before any decision) , therefore, I have launched this venture in July2023, and thanks to the visitors, the site is growing every day. We have recently launched a new feature as Business Directory wherein the suppliers/manufacturers can create their profile and upload products for better exposure. You can also follow TextilesResources.com on Linkedin: https://www.linkedin.com/company/textilesresources/

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