Due Diligence

A man in Zhejiang, China, was reportedly scammed into purchasing an $870,000 gym membership after being lured by a resale “benefit” scheme. He invested heavily in these “opportunities” but now claims he wasn’t thinking clearly. The gym owner is now unreachable, prompting the man to pursue legal action. The gym, Hangzhou Ranyan Fitness Management Co., Ltd., was established in 2022 with limited capital. Experts warn about the risks of prepaid fitness services and advise consumers to conduct due diligence and carefully review contracts before committing.

Ki Corporation and Public Storage, operating as a Consortium, have made a revised non-binding offer to acquire Abacus Storage King for A$1.65 per security. Both parties agreed to due diligence, signaling progress. Public Storage sees growth potential in the Australian self-storage market. The deal is non-binding and subject to conditions, including regulatory and securityholder approval. Public Storage will not provide further updates unless a definitive agreement is reached.