Back 25 Jun 2025

Suntar Eco-City Approves All Resolutions at FY2024 AGM, Highlights Stable Growth in Health and Property Segments

Link: https://links.sgx.com/1.0.0/corporate-announcements/U35TO83K42UH5U14/a0639a7bf748e84ec7514f9097800266390461d7727047ac812cfa2b55c1ae17

Summary:

  • Suntar Eco-City Limited held its AGM on 29 May 2025, chaired by Mr. Foong Daw Ching.

  • All seven resolutions, including the adoption of FY2024 financials, re-election of three directors, and re-appointment of auditors, were passed with near-unanimous approval.

  • Directors Dr. Lan Weiguang and Mr. Lan Yihong were re-elected without compensation from the company; Dr. Lan also extended interest-free financial support.

  • FY2024 performance highlights included stable gross profit in Health & Nutrition despite revenue headwinds, and solid contributions from the Huawei JV.

  • Property development saw good sell-through rates, with 75% of units sold in the Hailan project.

  • The RMB 5 million associate income was confirmed as recurring. The water segment is expected to become a key future revenue stream.

  • No new shares were issued, and no share buybacks occurred in the past year. The company holds no treasury shares.