Yeo Hiap Seng Ltd (SG:Y03) has released an update.
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Yeo Hiap Seng Ltd has announced the closure of Oatly’s manufacturing facility in Singapore, following Oatly’s decision to streamline its supply network. This move, part of an exit agreement, will see YHS receiving S$32 million in compensation, though the closure is not expected to significantly impact YHS’s net tangible assets. Despite ceasing production, Yeo Hiap Seng remains committed to supporting Oatly’s distribution in Singapore and Malaysia.
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