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Autagco to Close First Assisted Living Facility at Zedge

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Autagco (SGX:WNH) has decided to cease its operations at its assisted living facilities at Zedge Condominium in Singapore, run by subsidiary, Communa Gold, according to a Friday filing with the Singapore Exchange.

Zedge was the company's first assisted living facility and contributed 23% of its revenue for nine months ended April 30.

The closure was decided after the landlord of two of the three units declined to renew their leases, making continued operations unviable.

The company will now focus on optimizing its other two facilities.

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