Rectitude Holdings Ltd.

Analysis for Ticker: RECT

Rectitude Holdings Ltd operates a business in Singapore specializing in the wholesale and distribution of industrial safety equipment like protective clothing and footwear while expanding into green energy systems. The financial math for this company is a disaster because the people at the top are essentially using the business as a private bank account. Imagine a child who sells lemonade but takes all the money out of the jar to buy candy for themselves before paying for more lemons and then asks their friends to pay for the lemons instead. Before even asking the public for capital the two people running the entity Chairman Jian Zhang and Xu Yukai took 4,15$ million out of the accounts as dividends for themselves. They essentially sold the public an empty jar while promising it was full of lemonade.