G.H.Y Culture & Media's associate company incorporates JV company
ENTERTAINMENT and content provider G.H.Y Culture & Media (GHY) announced on Wednesday that its indirect associate company has incorporated a firm in China through a joint venture (JV) limited partnership.
The associate company, Tianjin Changxin Film & Media Co, has a 48.9 per cent stake in the incorporated firm known as Xiamen Kaimen Jianjun Film & Television Industry Investment.
Xiamen Kaimen has a registered capital of RMB10.22 million (S$2.1 million). Its key business activities will include literary and artistic creation, in particular, script development and creation.
Its incorporation, funded through internal resources, is not expected to have any material impact on the earnings per share or net tangible assets per share of the group for the financial year ending Dec 31, 2021.
None of the directors or controlling shareholders has any interest in the incorporation of Xiamen Kaimen, other than through their respective shareholding interests in GHY.
Shares of GHY ended Wednesday at 84.5 Singapore cents, up 6 cents or 7.6 per cent.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Singapore stocks end week in red; STI down 0.1%
UK's FTSE 100 hits record highs on Anglo-American boost
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
SocGen Q1 profit slumps less than expected as investment bank surprises
WSJ moves Asia headquarters from Hong Kong to Singapore
Macquarie sees biggest profit dip in 15 years on commodities downturn