Company Briefs

Rotary Engg disposes of Shanghai unit

ROTARY Engineering yesterday said it has disposed of its 100 per cent equity interest in Rotary Shanghai for 22.2 million yuan (S$4.46 million) in cash.

The consideration was arrived on an arm's length and on a willing-buyer willing-seller basis, after taking into account the subsidiary's tangible and intangible asset values of 20.1 million yuan as at end-May 2014.