Annica Holdings Provides Business Updates Following Q1 Results; Shares Down 6%

MT Newswires

05/21

Annica Holdings (SGX:JFQ) issued updates on its business operations after reporting its first-quarter results.

The company completed the disposal of a 60% stake in Panah Jaya Makmur for SG$488,000 as part of its strategy to improve capital efficiency, according to a Wednesday filing with the Singapore Exchange.

Shares of the energy group were down nearly 6% in Thursday trading.

Commenting on its first-quarter results, the company said that the lower revenue was primarily due to the timing of revenue recognition, as some projects are still ongoing, adding that the lower revenue does not reflect any material deterioration in its activities or customer demand.

Meanwhile, Annica has secured an order book of SG$5.2 million, which will have an impact on its financials for 2026.

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