Thursday 28 Mar 2024
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SINGAPORE (June 4): Asiatic Group Holdings, the provider of energy in frontier countries, says the group has managed to stay profitable for the past five financial years despite the challenges which are outside the control of the group.

However, Asiatic admitted the energy business was capital-intensive which necessitated several rounds of fund raising by the group.

Asiatic was responding to an open letter entitled 8 Reasons for a change which was sent to its board on May 9 by dissenting shareholder Jerry Low Chin Yee in which he criticised in detail the performance of the company’s power plants, stock price and...(click on link for full story on theedgesingapore.com)

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