The Place Holdings Responds to SGX Queries on Financials

MT Newswires

2024/09/02

The Place Holdings (SGX:E27) has addressed the Singapore Exchange's queries on its unaudited interim financial statements for the six months ended June 30, according to a Friday filing on the Singapore Exchange.

The company corrected an earlier misstatement regarding a decrease in administrative expenses, attributing it to a property tax payment for the fiscal year ending June 30, 2023.

No revenue was recorded for the period due to the end of a key management services agreement. The company is investing in MCC Land and expects to recognize profits in 2024.

It is also exploring new business ventures, including a proposed Sky Screen project.

The company confirmed that receivables from Beijing Aozhong Xingye Real Estate Development are recoverable, with no provision made for trade and other receivables.

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