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Blue Sky Power quits book printing business, focuses on natural gas
INVESTMENT company Blue Sky Power, which has a secondary listing in Singapore and a primary listing in Hong Kong, said it will discontinue its book printing business and focus on its natural gas business.
The book printing business is facing intense competition with falling revenues and profits, it said.
The segment incurred a segment loss of HK$9.2 million (S$1.7 million) for the six months ended June, the company said.
"On the contrary, riding on the escalating demand for natural gas in China for industrial, transportation and residential uses, the group will continue to benefit from the development of the segment of sales of natural gas and other related products," it said.
Blue Sky was formerly known as China Print Power Group. Its shares were not traded in Singapore on Friday.