YUUZOO Networks Group Corp, formerly YuuZoo Corporation, is closing all its Singapore-based subsidiaries and terminating all Singapore-based employees. This was a “direct consequence” of its trading suspension, the mainboard-listed company said in a regulatory filing submitted just before the market opened on Monday.
In the interim, YuuZoo’s account was closed by its bank, which subsequently turned down its request to open a new account, which YuuSoo said prevented it from accessing the returned funds.
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