The Business Times

Companies & Markets

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

Serial System unit invests S$135,000 in China automotive components distributor

Published Mon, Feb 19, 2018 · 02:28 PM
Share this article.

ELECTRONIC components distributor Serial System announced that its 91 per cent-owned Hong Kong unit, Serial Microelectronics (HK), has invested HK$805,000 (S$135,103) in two subsidiaries.

Serial Microelectronics (HK) will take up a 70 per cent stake in Xuanhong Automotive Electronics, a newly incorporated company in Hong Kong.

Xuanhong, in turn, has incorporated Xuanli Automotive Electronics, which distributes automotive semiconductor components in China.

Following the investments, Serial System holds a 63.7 per cent stake in both Xuanhong and Xuanli, it said in a Singapore Exchange filing.

Serial System shares ended S$0.004 or 2.4 per cent higher at S$0.171 on Monday before the announcement.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

newspaper iconPurchase this articleshopping cart icon

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here