Avarga (SGX:U09) has decided to cease paper manufacturing operations carried out by its wholly owned subsidiary, UPP Pulp & Paper (M) after Dec. 31, a filing with the Singapore Exchange said on Friday.
The company said its paper mill division recorded pre-tax losses in the financial years ended Dec. 31, 2022 and Dec. 31, 2023, as well as the six months ended June 30, 2024.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.