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Huan Hsin sells joint-venture stake to partner

It'll sell 51% stake in Hefei Baolong Hsin Tech to Shenzhen Bitland for 6.19m yuan

Published Wed, Dec 10, 2014 · 09:50 PM
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Singapore

HUAN Hsin Holdings, a contract manufacturer of telecom and electronic products, is selling its controlling stake in a joint venture in a bid to monetise its non-yielding assets.

The mainboard-listed firm will dispose of its 51 per cent stake in Hefei Baolong Hsin Technology to its joint- venture partner, Shenzhen Bitland Information Technology, for 6.19 million yuan (S$1.33 million) in cash. Shenzhen Bitland owns the remaining 49 per cent.

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