MOUNTING LOSSES The True Singapore Group recorded revenue of about HK$181.2 million (US$23.1 million) and a loss of about HK$34.3 million for the year ended Dec 31, 2025. At the end of 2025, it had total assets of about HK$149.7 million and liabilities of about HK$555.5 million. Unaudited management accounts showed that the business recorded…
SINGAPORE – True Fitness and True Yoga in Singapore are undergoing liquidation and set to close, with their parent company Kontafarma China Holdings declaring that they cannot continue business owing to liabilities. The Accounting and Corporate Regulatory Authority’s BizFile records as at Sept 11 lists both True Fitness’ and True Yoga’s statuses as “in liquidation…
The True Fitness and True Yoga chains in Singapore are preparing to cease operations as part of a liquidation process. Parent company Kontafarma China Holdings cited intense market competition and rising customer acquisition costs among the reasons, Channel NewsAsia reports. Company liquidation According to Kontafarma’s stock exchange filing, the boards of directors of True Fitness…
[SINGAPORE] The parent company of fitness chain True Singapore has announced that it will begin provisional liquidation of its subsidiaries True Fitness and True Yoga, citing fierce competition and rising customer acquisition costs. True Fitness and True Yoga – the Singapore companies behind the gym True Fitness, TFX and Yoga Edition brands – have begun…
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NCLAT sets aside NCLT’s order for Home Derivatives’ liquidation, ruling new IBBI regulations cannot apply retrospectively to ongoing cases. Key Points NCLAT set aside an NCLT order directing the liquidation of Home Derivatives. The NCLT had rejected a successful bidder’s plea, citing new IBBI regulations mandating asset dissolution. NCLAT ruled that the IBBI amendment could…
NCLAT has set aside the NCLT Ahmedabad order rejecting Garden Court Distilleries’ plea to implement its successful bid for Home Derivatives, ruling that amended liquidation regulations could not apply retrospectively. The National Company Law Appellate Tribunal (NCLAT) on Thursday set aside an order by the NCLT’s Ahmedabad bench that had directed the liquidation of Home…
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