Fu Yu to seek shareholders' nod at EGM to merge 2 Singapore-based units
Add BT as a preferred source
Angela Tan
DeeperDive is a beta AI feature. Refer to full articles for the facts.
FU Yu Corporation intends to merge two of its Singapore-based manufacturing units as part of its effort to streamline its corporate structure and operations.
The plastic mould specialist said on Tuesday that the merger of Nanotechnology Manufacturing and Solidmicron Technologies will improve "operational efficiencies, economies of scale and synergies from better allocation of resources, and thereby improve the financial performance of the group". It is also expected to reduce audit, tax and other regulatory compliance costs.
Fu Yu will be seeking the approval of shareholders by way of a special resolution at an extraordinary general meeting (EGM) to be convened.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
