Renaissance United Limited (SG:I11) has released an update.
Renaissance United Limited reports a 26% increase in revenue for FY2024, reaching S$93.4 million, propelled by growth in electronics and gas distribution alongside a profitable land sale in the USA. Despite these gains, the company experienced a pre-tax loss of S$8.726 million due to an impairment in the gas distribution sector in China, which may see improvements with potential pricing governance reforms. To facilitate its removal from the SGX-ST watch-list, the company has initiated strategic measures, including an exclusive marketing agreement with Maxstar.
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