Net Pacific Faces Financial Strain Amid Construction Setbacks

Net Pacific Financial Holdings Limited (SG:5QY) has released an update.

Net Pacific Financial Holdings Limited faces significant challenges as its subsidiary, Jetwin, deals with the revocation of its builder’s license, leading to an expected additional construction cost of at least AUD2.5 million. With only AUD600,000 claimable from insurance, the group’s share of the costs is projected at AUD1.05 million. The completion of the construction is anticipated to take another 8-10 months after appointing a new builder.

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