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UEL unit sells stake in Suzhou property devt firm

Published Mon, Mar 10, 2014 · 10:00 PM

WBL Corporation Limited (WBL) is selling its 78 per cent stake in Suzhou Industrial Park Jian Wu Heng Ye Property Development Co Ltd (JWHY) to Genway Group for 490 million yuan (S$101.2 million). WBL is a 67 per cent-owned subsidiary of United Engineers Limited (UEL).

This sale is being done through WBL's wholly owned subsidiary, Shenyang Hua…

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