SINGAPORE - Local fitness chain True Fitness has reassured its members that its business in Singapore was secure, amid the sudden closure of its outlets in Malaysia and Thailand.
In a statement to members on Thursday (June 15), True Group chief executive Patrick Wee said that the closures in Malaysia and Thailand did not affect the Group's expansion plans in Singapore, Taiwan and China.
In May, True Group entered a US$36.7 million ($51 million) partnership with Hong Kong-listed Tongfang Kontafarma, which includes plans to open 20 new clubs in China over the next three years.
However, last week (June 9 and 10) it abruptly closed its outlets in Malaysia and Thailand, stoking fears of another saga like the closure of California Fitness gym chain in Singapore in July 2016
Mr Wee said in an earlier report that "evolving market conditions" had made the outlets in Malaysia and Thailand were not viable.
True Fitness, which started in 2004, has 10 clubs and 47,000 members in Singapore.
Mr Wee told members that the group will continue to open one to four clubs a year here.