Digilife Technologies Limited (SG:BAI) has released an update.
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Digilife Technologies Limited has addressed queries from the Securities Investors Association (Singapore) concerning the non-renewal of its distribution agreement with telecom operator XL Axiata. The company clarified that the workforce involved has been absorbed or reassigned, with no significant early termination costs, severance packages, or asset impairments incurred. This strategic move is expected to reduce the Group’s revenue and profitability for the financial year 2024 but is accompanied by a corresponding decrease in associated costs.
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