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 revenue of about HK$118.4 million and a loss of HK$19.1 million in the first eight months of this year.
As of Aug 31, its assets stood at about HK$204.5 million, with total liabilities of about HK$633.8 million, leaving it with net liabilities of about HK$429.3 million.
Kontafarma said the fitness business of the group in Singapore faces multiple challenges, including but not limited to the “increasingly…