Phoenix Plus Corp. released unaudited pro forma condensed consolidated financial information related to the sale of its Labuan Group.
The financial statements illustrate the impact of the sale on the company's balance sheet and statements of operations.
The pro forma adjustments provide insights into the company's financial position post-disposition.
PXPC Labuan Group Disposition
Illustrates the effect of selling all equity associated with Phoenix Plus Corp. (Labuan) to Lee Chong Chow.
- The pro forma financial information should be considered for informational purposes only and may not reflect actual financial outcomes post-disposition.
- Final financial balances related to assets and liabilities at the closing date are yet to be determined, which could lead to material differences from the pro forma information.
The unaudited pro forma condensed consolidated financial information sheds light on Phoenix Plus Corp.'s strategic move to sell its Labuan Group, opening avenues for potential restructuring and cost-saving opportunities.