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AF Global Limited ( (SG:L38) ) has shared an update.
AF Global Limited announced that its joint venture in Xuzhou, China, Xuzhou Yinjian LumChang Real Estate Development Co., Ltd, is undergoing liquidation. Despite multiple auction attempts for its assets in Gulou Square, no bids have been received, prompting discussions on further auctions at lower reserve prices or alternative disposal options. The company faces potential financial impacts, including a possible write-down of its investment, if assets are sold at significant discounts.
More about AF Global Limited
AF Global Limited is a company incorporated in Singapore, operating with a focus on investments and asset management. The company engages in joint ventures and real estate development, with a significant investment in Xuzhou, China.
Average Trading Volume: 386,814
Technical Sentiment Signal: Buy
Current Market Cap: S$116.1M
See more data about L38 stock on TipRanks’ Stock Analysis page.