Core Viewpoint - SingAsia Holdings (08293) announced the sale of its wholly-owned subsidiary, SingAsia Resources Pte. Ltd., to Mr. Huang Hanbing for SGD 15,000 due to poor financial performance and intense competition in the hospital cleaning industry in Singapore [1] Financial Performance - SingAsia Resources Pte. Ltd. generated minimal revenue over the past year and reported a net loss after tax of approximately SGD 1 million for the year ending July 31, 2024, and SGD 400,000 for the year ending July 31, 2025 [1] - The decision to terminate operations in Singapore was made after careful consideration of the subsidiary's financial performance [1] Industry Context - The hospital cleaning industry in Singapore is characterized by fierce competition, which has hindered the expected business growth for SingAsia Resources Pte. Ltd. [1]