Asian Citrus Holdings (HK:0073) has released an update.
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Asian Citrus Holdings Limited has decided to reallocate approximately HK$1.6 million of unutilized funds originally intended for staff costs in their air-conditioner distribution business to bolster general working capital. This strategic shift comes after a review of market conditions and the Group’s operational needs, which indicated that no additional hiring was necessary. The company believes this reallocation is in the best interest of its shareholders and will not adversely affect its current operations.
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