Corporate digest

Sunningdale Tech

A UNIT of Sunningdale Tech has agreed to sell a factory and the land it sits on in Guangdong, China for 145 million yuan (S$28.9 million) to Zhongshan Wanbaolongmen Wood Products, a company that manufactures and sells doors and furniture.

The move allows the precision plastic component manufacturer to dispose of a non-core and excess asset, and get additional working capital to improve the group's cash flow and fund its business operations, the company said on Tuesday after market close.