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Memtech to record 21.7m yuan gain from sale of under-utilised Huzhou City land
Published Fri, Dec 30, 2016 · 09:50 PM
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Singapore
AUTOMOTIVE components supplier Memtech International has agreed to sell two pieces of land in Huzhou City, Zhejiang, for 41 million yuan (S$8.5 million) in cash as a divestment of under-utilised assets.
After paying an estimated two million yuan of taxes, Memtech expects to receive 39 million in net proceeds, which will be used for general wor…
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