BM Mobility to gain 60m yuan from sale of legacy business
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 Ch…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
US: Wall St opens higher as some chip stocks bounce back after selloff
Blackstone reports 1% rise in Q1 earnings
India’s Infosys misses fourth-quarter revenue estimates
UBS shuts some China private funds, will lay off staff: sources
China’s top lenders face 1.6 trillion yuan loss-absorbing capital shortfall by 2025, Fitch estimates