British and Malayan (SGX:CJN) responded to questions from the Securities Investors Association (Singapore) (SIAS) regarding its Annual Report for the financial year ended June 30, 2024, according to a Tuesday filing on the Singapore Exchange.
The company reported a 14% increase in fee revenue to $1.58 million while narrowing its loss to $1.77 million from $2.61 million in FY23.
British and Malayan said it was unaffected by recent money laundering incidents and maintains stringent KYC and AML protocols. It seeks to attract high-net-worth individuals and overseas trusts relocating to Singapore.
In its acquisition of PreceptsGroup International, British and Malayan holds a 35% stake with an option to purchase an additional 30% based on performance.
The board noted the resignation of director Ng Kwan Meng on Sept. 23 and is actively seeking a successor.
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