Sincap Group Limited Reports Financial Strains

Sincap Group Ltd. (SG:5UN) has released an update.

Sincap Group Limited has disclosed its financial status for August 2024, revealing a net liability position of 11,640 thousand RMB, with total liabilities amounting to 11,680 thousand RMB against only 40 thousand RMB in assets. The company also reported a significant decrease in cash and cash equivalents from 154 thousand RMB at the beginning of the month to just 40 thousand RMB by the end of August, primarily due to director fees and other minor adjustments. These unaudited figures reflect challenges in the company’s financial health.

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