Rich Batam was sold to an independent third party, Yi Chengshu, for $1. Based on Rich Capital’s FY2024 financial results, the subsidiary has negative equity value of $0.16 million. This includes $0.17 million owed to the company and will be “forgiven” prior to the completion of the disposal.
Rich Capital Holdings says it is expecting to report a net profit for the 1HFY2026 ended Sept 30, reversing from a net loss in the same period the year before.
The anticipated net profit is mainly due to the gain on disposal of Rich Capital’s wholly-owned subsidiary, Rich Batam. The disposal was completed on May 13.
