SINGASIA HLDG (08293) Plans to Sell Entire Stake in SingAsia Resources for SGD 15,000

Stock News

2025/09/26

SINGASIA HLDG (08293) announced that on September 26, 2025, the seller (SingAsia Investments Limited, a wholly-owned subsidiary of the company) intends to dispose of the entire issued share capital of the target company SingAsia Resources Pte. Ltd. to the buyer, Mr. Huang Hanbing, for a consideration of SGD 15,000.

The target company is a limited company incorporated in Singapore that currently engages in providing hospital cleaning manpower outsourcing services in Singapore. The target company has generated minimal revenue over the past year and has been unable to achieve expected business growth due to intense market competition in Singapore's hospital cleaning industry.

For the years ended July 31, 2024 and 2025, the target company recorded continuing net losses after tax of approximately SGD 1 million and SGD 400,000 respectively. After careful consideration of the target company's relevant financial performance, the company has decided to terminate the target company's operations in Singapore.

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