AsiaPhos Limited (SG:5WV) has released an update.
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AsiaPhos Limited has reached a settlement agreement following a warehouse fire in Tianjin, China, with the involved parties resolving respective claims and counter-claims. An agreement has been made where Mianzhu Norwest, a subsidiary, will receive a compensation of approximately S$19,831 for damages, which will be recognized as other income in the 2024 financial statements. This settlement is not anticipated to significantly affect the company’s financial position for the fiscal year.
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