True Fitness, the gym chain many Singaporeans have trained at for close to two decades, is closing here together with its sister brands TFX and Yoga Edition. On the night of 10 September 2026, its Hong Kong-listed parent Kontafarma China Holdings told the stock exchange that True Fitness Pte Ltd and True Yoga Pte Ltd had resolved to declare that they cannot continue business because of their liabilities, and to wind up.
> Quick view: all 10 True Fitness, TFX and Yoga Edition centres in Singapore are intended to close. Provisional liquidators from RSM SG Corporate Advisory now control the companies. Members who paid in advance are unsecured creditors, so act now: stop recurring payments, save your records, talk to your card issuer and get ready to file a claim.
What the filing says
According to Kontafarma's announcement on HKEX, the director of each company passed resolutions on 10 September to:
- lodge declarations of the companies' inability to continue business with the Official Receiver at the Ministry of Law's Insolvency Office;
- appoint Goh Wee Teck and Lin Yueh Hung, licensed insolvency practitioners at RSM SG Corporate Advisory Pte Ltd, as provisional liquidators;
- hold extraordinary general meetings on 7 October 2026 to propose a creditors' voluntary winding-up, followed by meetings of creditors.
Once the provisional liquidators take charge, the directors' powers end. The filing says the operation of the fitness and yoga centres is expected to cease with the start of the provisional liquidation, and that the centres run under the True Fitness, Yoga Edition and TFX brands are intended to be closed.
Which outlets are affected
The group runs 10 fitness and yoga outlets in Singapore across the three brands. True Fitness's own club directory lists three True Fitness clubs:
- Djitsun Mall @AMK, 5 Ang Mo Kio Central 2, #04-01
- Income @Tampines Junction, 300 Tampines Ave 5, #08-01/04
- Velocity @Novena Square, 238 Thomson Road, #03-46
The rest are TFX gyms (including TFX Millenia Walk) and Yoga Edition studios. Business Times reported on 11 September that notices had been put up outside the branches to tell members. Treat every outlet as closed unless the liquidators say otherwise.
Why it is closing
Kontafarma's filing is blunt about the numbers. The Singapore business lost about HK$34.3 million in 2025 on revenue of HK$181.2 million, then lost another HK$19.1 million in the first eight months of 2026. By 31 August its liabilities (about HK$633.8 million) far exceeded its assets (about HK$204.5 million).
The parent blames "increasingly fierce" competition from boutique gyms, condo gyms that remove the need for an outside membership, and cheap home-workout apps and online coaching, on top of high operating costs and tight cash flow. It says winding up the gyms lets it focus on its pharmaceutical business in China, which already brings in about 77% of group revenue. The Singapore closure follows the group's exit from Taiwan on 1 October 2025.
What members can do now
- Don't turn up for a session. Assume your club is shut, and cancel any PT or class bookings in your calendar.
- Stop recurring payments yourself. If your membership is billed monthly to a credit card or by GIRO, ask your bank to stop the recurring charge. Don't count on the gym's systems to stop billing you.
- Save your records today. Keep your membership contract, receipts and card or bank statements, and screenshot the True Fitness or TFX app showing your remaining months, class credits or PT sessions before the app or website goes offline.
- Ask your card issuer about a dispute. If you prepaid by credit or debit card for months or sessions you can no longer use, call your bank and ask whether a chargeback is possible. Each bank sets its own rules and time limits, so do this early. There is no guarantee it will succeed.
- File a claim with the liquidators. Members owed unused prepaid value are creditors of the company. After the 7 October meetings, watch for the liquidators' notice to creditors and submit a proof of debt to RSM SG Corporate Advisory for the amount you are owed. Be realistic: prepaid members rank as unsecured creditors, and the parent's own filing says recovery depends on the assets realised and the statutory order of priority.
- Watch for CASE guidance. CNA says it has asked the Consumers Association of Singapore for comment. We will update this page if CASE or the liquidators publish instructions for members.
Key facts at a glance
| Detail | What to know |
|---|---|
| Companies | True Fitness Pte Ltd and True Yoga Pte Ltd (plus subsidiary True Fitness (STC) Pte Ltd) |
| Brands closing | True Fitness, TFX and Yoga Edition (10 outlets) |
| Resolutions passed | 10 September 2026 |
| Provisional liquidators | Goh Wee Teck and Lin Yueh Hung, RSM SG Corporate Advisory Pte Ltd |
| EGMs | 7 October 2026, to propose a creditors' voluntary winding-up |
| Next step | Meetings of creditors after the EGMs |
| Parent | Kontafarma China Holdings Limited (HKEX: 1312) |
Looking for a new gym?
If you need somewhere to train while this plays out, our gym membership comparison sets out what the other chains actually charge, from ActiveSG's $2.50 entry to the premium clubs (its True Fitness entry predates this closure). Most chains offer a free trial or day pass, which is a sensible way to test a replacement before you commit. After this, it is also worth thinking twice before paying for a long membership upfront.
