Place Holdings Limited (SG:E27) has released an update.
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The Place Holdings Limited has announced the loss of a major customer, Beijing Aozhong Xingye Real Estate Development Co., Ltd (AZXY), after failing to renew a management services agreement for the upcoming financial year. This development follows unsuccessful negotiations amidst a challenging economic and business environment in the PRC. The company had previously chosen not to recognize revenue from this agreement in its recent financial statements, highlighting the uncertainty surrounding the deal.
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