Ascott Residence (SG:HMN) has released an update.
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CapitaLand Ascott Trust (CLAS) has assured stakeholders that recent reports of an executive’s alleged embezzlement of $2.7 million will not affect their financial standing, as the trust will be fully indemnified for the loss. This means there will be no negative impact on CLAS’s distribution per stapled security or net tangible assets for the fiscal year 2024.
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