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The latest update is out from Tomo Holdings Limited ( (HK:6928) ).
Tomo Holdings Limited announced updates regarding its investment in associates, highlighting issues with the fulfillment of a profit guarantee by Mr. Tsang, the vendor. Despite attempts to verify financial statements, the company could not confirm their authenticity due to restricted access to underlying documents. Consequently, a bankruptcy petition against Mr. Tsang was withdrawn, and the company is exploring legal actions and potential disposal of the target group. The board plans to enhance internal controls to prevent similar issues in future investments.
More about Tomo Holdings Limited
Tomo Holdings Limited, incorporated in the Cayman Islands, operates in the investment sector, focusing on acquiring and managing associate companies.
Average Trading Volume: 2,482,880
Technical Sentiment Signal: Buy
Current Market Cap: HK$252M
Learn more about 6928 stock on TipRanks’ Stock Analysis page.