Merchant House International Limited (AU:MHI) has released an update.
Merchant House International Limited reported a quarterly update detailing the closure of its FIT subsidiary following losses, the completed sale of FIT’s assets, and stable sales with expected growth for its AMI home textile division. The company also mentioned ongoing negotiations to divest its stake in Tianxing and a cash balance of A$6,930 thousand as of March 31, 2024. Expenditures for the quarter were disclosed, including costs incurred by its key divisions and payments made to related parties.
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