V2Y Corporation Ltd. (SG:V2Y) has released an update.
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V2Y Corporation Ltd. is addressing shareholder queries regarding their Insurtech business segment, which saw a revenue drop of 29.3% to $215,000 in FY2023 due to a decline in new projects and customer sales. Despite implementing cost-saving measures, the company’s administrative expenses remained high, resulting in a loss of $0.9 million for the year. The company, with a workforce of five, operates in the general insurance and device protection market in Singapore.
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