Renaissance United Limited (SG:I11) has released an update.
Renaissance United Limited reported a 26% surge in annual revenue, reaching S$93.45 million, largely due to increased turnover in its electronics and gas distribution businesses and land sales in the USA, despite posting a pre-tax loss of S$8.66 million for FY2024, attributed to significant asset impairment in its Chinese gas distribution operations. The company, currently on the Singapore Exchange watch-list, is implementing strategic initiatives, including a potential exclusive marketing agreement in the USA, to improve its financial standing and address the watch-list exit criteria.
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