Micropolis Ltd, the Singapore-based hard disk driver manufacturer, left debts totaling $376m when it went into liquidation after prices plunged as a result of increasing competition last year. This compares with an estimate of $45m, when the company, which had plants in Singapore and Thailand, and research and development centers in Chatsworth and Scotts Valley, California went bust (CI No 3,301). In a bid to claw some money back for creditors, the company’s vast factory in Singapore has been put up for sale by tender and Chan Ket Teek, partner with liquidator Cooper and Lybrand, hopes to attract bid of more than $37m. He said two multi-national companies in the electronics field have already shown an interest in the high tech buildings which has clean rooms of 51,000 square feet. So far, Metropolis has managed to dispose of its inventory of hard disk drives for $12m and will be selling plant, machinery and equipment separately for around $15m. Figures are converted at 0.627549 to the US dollar.
