Business briefing

Otto Marine unit to sell 7 vessels

OTTO Marine's 90 per cent-owned subsidiary, Go Marine Group, has entered into a memorandum of agreement to sell seven vessels to RSOV Marine for US$10 million.

Tung Lok takes stake in Beijing firm

TUNG Lok Restaurants (2000) Ltd has taken a 40 per cent associate stake in a company, Beijing Xihe TungLok Restaurant Company Ltd, that was incorporated to operate restaurant business. The remaining 60…