BM Mobility to gain 60m yuan from sale of legacy business
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
MAINBOARD-LISTED BM Mobility on Saturday said that it expects to recognise a gain of 60 million yuan (S$12 million) from the planned disposal of two wholly-owned subsidiaries in China involved in its legacy business of producing and trading synthetic yarns and foamed materials.
The sale of Zhihe (Fujian) Technology and Ziwo (Fujian) Import & Export Trading will significantly bolster its balance sheet and expedite its return to profitability, which it expects to achieve with its green energy business in Malaysia and China, it said.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
