EnGro Corp. Ltd. (Singapore) (SG:S44) has released an update.
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EnGro Corporation Limited’s subsidiary, Tianjin Ang De Food & Beverage Co., Ltd, has filed for liquidation due to insolvency following three years of economic challenges exacerbated by the COVID-19 pandemic. The company has decided to focus on its core businesses to improve efficiency and mitigate losses. This move is not expected to significantly affect the Group’s consolidated net tangible assets or earnings per share for the financial year ending December 2024.
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