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Kontafarma China Shutters Loss-Making Yoga, Fitness Centers in Singapore

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Kontafarma China Holdings (HKG:1312) is winding down two of its yoga and fitness subsidiaries in Singapore, citing competitive market conditions that led to heavy losses, according to a Thursday bourse filing.

The company said it will record an impairment loss of HK$76.9 million from shuttering its True Fitness and True Yoga businesses.

For fiscal year 2025, True Singapore Group, which includes the fitness and yoga center businesses, reported revenue of HK$181.2 million and a loss of about HK$34.3 million.

What else is happening in Asia?

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