Amcorp Global Reverses $8.9M ABSD Provision

Amcorp Global Ltd. (SG:S9B) has released an update.

Amcorp Global Ltd.’s subsidiary, Amcorp Forward Pte Ltd, has been granted remission of the Additional Buyer’s Stamp Duty (ABSD) for its 35 Gilstead residential development. This development allows the company to reverse an $8.9 million ABSD provision in its current financial year, marking a positive financial adjustment. Investors may find this reversal beneficial as it could enhance the company’s financial standing before the year ends.

For further insights into SG:S9B stock, check out TipRanks’ Stock Analysis page.