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Shanaya Limited ( (SG:SES) ) has shared an announcement.
Shanaya Limited has mutually agreed with Zym-Tec Road Technologies Limited to terminate their agreement for a joint feasibility study, with both parties released from further obligations and no joint venture company ultimately being formed. The feasibility and financial report underpinning the project was deemed unsatisfactory and the contemplated transactions did not progress, leading Shanaya to end the arrangement while signalling its intention to continue exploring other strategic co-operation and joint-venture opportunities. Notably, expenses related to the feasibility study were funded from a non-refundable deposit, so the company does not expect any material adverse impact on its earnings per share or net tangible assets per share for the financial year ending 31 December 2025, easing potential concerns for shareholders about the financial fallout from the project’s termination.
More about Shanaya Limited
Shanaya Limited, incorporated in Singapore, operates as a holding company with business activities conducted through its subsidiaries, collectively referred to as the Group. While this announcement does not specify its core operating sector or products, it indicates that the Group actively seeks strategic co-operations, partnerships and joint ventures to enhance its operations and grow its business footprint.
Average Trading Volume: 128,126
Technical Sentiment Signal: Buy
Current Market Cap: S$12.41M
For a thorough assessment of SES stock, go to TipRanks’ Stock Analysis page.