Miyoshi (SGX:M03) applied to the Singapore Exchange for an extension to publish its results for fiscal 2024 by Nov. 15, a filing with the Singapore Exchange said on Thursday.
The company cited deteriorating operations in the Philippines as the primary reason for the delay. Miyoshi is currently undergoing a thorough assessment to determine potential impairment on its property, plant, and equipment held by its Philippine entities.
To facilitate this assessment, a third-party valuation firm has been engaged to conduct valuation exercises on the affected assets.
The group's operations in the Philippines accounted for around 32% of its revenue for the half year ended Feb. 29.
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