TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
ST Group Food Industries Holdings Limited ( (SG:DRX) ) has provided an announcement.
ST Group Food Industries Holdings Limited has announced the creditors’ voluntary liquidation of its indirect subsidiary, GCTea Outlets 2A Ltd, in the UK. This decision is part of the company’s strategic plan to exit the Gong Cha brand in the UK due to the subsidiary’s liabilities and the challenging economic conditions. The liquidation is expected to positively impact the group’s consolidated net tangible assets and earnings per share in the long term, despite initial losses, as GCTea Outlets 2A has been loss-making.
More about ST Group Food Industries Holdings Limited
ST Group Food Industries Holdings Limited operates in the food and beverage industry, focusing on managing and operating various food and beverage outlets. The company is involved in the distribution and retail of food and beverage products, with a market focus that includes international brands.
Average Trading Volume: 52,650
Technical Sentiment Signal: Buy
Current Market Cap: S$36.62M
For a thorough assessment of DRX stock, go to TipRanks’ Stock Analysis page.