Link Holdings Limited Link Holdings Limited (8237.HK), an investment holding company incorporated in 2012 and headquartered in Sheung Wan, Hong Kong, primarily engages in hotel operations and distressed debt asset management across the People's Republic of China, Singapore, Indonesia, and Japan. The company operates through two main segments: hotel business, including ownership and management of boutique-style properties such as Link Hotel in Singapore's Tiong Bahru Road, Hanatsubaki Spa Hotel in Japan, and interests in the Bintan Resort project in Indonesia; and distressed debt asset management services in China, alongside property investment, cottage, and real estate activities. It serves leisure and business travelers in the lodging sector, with additional focus on real estate development and non-performing asset recovery for institutional clients. As a subsidiary of Ace Kingdom Enterprises Corporation, Link Holdings Limited recently faced a significant operational shift with the British Virgin Islands Court's order for the liquidation of its subsidiary Silverine, leading to the deconsolidation of Singapore operations from its financial statements to streamline focus on core assets like the Hanatsubaki Spa Hotel and Bintan Resort; the company also reported interim results showing shareholder losses of HK$42.206 million and announced a capital reorganization with changes in board lot size and trading arrangements in early 2025, amid ongoing temporary renovations impacting hotel revenue which declined 28.6% to HK$41.7 million for the year ended December 2024.