Prospera Global (SGX:5HH) said its 80%-owned subsidiary, G4 Station, will temporarily close hostel operations from Jan. 16 for a three-month renovation aimed at enhancing facilities and boosting rental yields, according to a Monday filing on the Singapore Exchange.
The move is expected to reduce the group's net tangible assets per share to SG$0.008 cents from SG$0.0086 and widen its loss per share to SG$0.0078 from SG$0.0072, based on FY23 figures.
The company is also exploring opportunities in its newly approved financial and operational support services segment.
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