Raffles Interior Ltd. (HK:1376) has released an update.
Raffles Interior Ltd. has sold its wholly-owned subsidiary, China Soft Drinks, for a nominal HK$1 to a Singaporean company as part of a strategic decision to offload underperforming assets. The decision follows the inability of the PRC Subsidiary, indirectly held by China Soft Drinks, to meet a profit guarantee despite previous assurances. This move is aimed at mitigating losses and refocusing the company’s resources.
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