Ovanti Limited

Restructuring · Asia

Korea Artiz Studio abruptly ceased operations in Singapore with 66 consumer complaints totaling S$271K+ in prepayment losses. Employees reported unpaid salaries due to 'internal operational issues.' Studio also closed outlets in Taiwan and Indonesia. Over 50 completed photo sets are held by production partners and customers report unfulfilled services despite advance payment.

Restructuring · Asia

Malakoff's Q2 net profit nearly halved due to equipment failures at Tanjung Bin coal-fired power plant (steam turbine generator rotor failure, hydrogen cooler leak). Company is executing recovery and repairs, with reinstatement expected mid-August. Company is also diversifying with gas plants and renewable energy assets.

Restructuring · Asia

Hongkong Post eliminated permanent civil service contracts for new employees, moving to two-year contract terms, citing declining mail volume and financial strain

Restructuring · Asia

SCIC announced divestment of full stakes in 66 companies across plastics, healthcare, steel, textiles, construction, and other sectors, while retaining 100% ownership of SCIC Investment Co. Ltd. and maintaining stakes in 21 strategic businesses including Vinamilk (36%), Vinapharm, FPT, SABECO, and others. Portfolio restructuring reflects shift from broad diversification to concentrated strategic ownership.

Restructuring · Asia

ABS-CBN is undergoing financial stress with first-half losses doubling to P1.83 billion, indicating the company is moving further from profitability and likely requiring operational restructuring and cost rationalization.

Restructuring · Asia

Kakao Entertainment consolidated three wholly-owned webtoon/web novel subsidiaries (Samyang C&C, Intime, Philyeon Management) into a single merged entity under Samyang C&C leadership to strengthen IP production capabilities and operational efficiency.