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BM Mobility to gain 60m yuan from sale of legacy business

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Published Sun, Sep 2, 2018 · 09:50 PM

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.

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