Corporate digest

Karin Technology

THE mainboard-listed firm will sell its Shanghai property to an individual, Chen Chen, for 3.2 million yuan (S$620,000). The sale of the property will enable the company to "realise the value of the property and improve its overall cash flow position", it said.

The unit, located at Kerry Everbright City in Shanghai's Zhabei District, was valued at 2.9 million yuan by BMI Appraisals on June 30, 2019. Karin Technology said the fair value gain for the property is 320,000 yuan, that being the excess of sale proceeds over book value. The company intends to use the net sale proceeds for the working capital of its core business.