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Growth plans on track despite foreign closures
Straits Times , 31 JULY 2017


The closures of True Group's fitness clubs in Malaysia and Thailand last month, shocking members with their abruptness, "could have been handled better", said its founder.

Mr Patrick Wee, 53, who set up the home-grown fitness firm in 2004, said it was a "perfect storm" of circumstances that led to the closures. Even so, the chain's expansion plans are on track, he added.

On June 9, True's two gyms in Thailand shut without warning, leaving 7,000 members in the lurch. A day later, its three spas and gyms in Malaysia followed suit, affecting 10,000 members.







New-Age Fitness Trends
Channel News Asia , 20 JULY 2017


True Fitness Senior Personal Trainer Mohamed Faizal Abdullah shares his view on new fitness trends in a segment of morning news programme First Look Asia on Channel News Asia. 

Catch him in this video: 

http://www.channelnewsasia.com/news/catch-up-tv/first-look-asia/healthmatters/fla-170720-trends-9047256







China Group Buys Into True Group; IPO on cards
Business Times, 31 MAY 2017


HONG Kong-listed Tongfang Kontafarma has acquired a sizeable stake in Singapore-based fitness and wellness provider True Group for US$36.7 million in cash, a move that paves the way for the latter to significantly expand its presence across China.

The deal, announced on Tuesday afternoon, will see Tongfang Kontafarma – a Chinese company indirectly invested by Tsinghua University that primarily manufactures and sells prescription drugs – take a 51 per cent stake in True’s Singapore and China businesses, as well as a 29 per cent stake in its Taiwan operations.

As part of its longer-term growth strategy, True also intends to pursue an initial public offering (IPO) on the Hong Kong Stock Exchange within the next two years or so.