Tat Hong raises stake in China unit with S$5.9m share purchase

CRANE rental company Tat Hong Holdings said on Monday it has raised its stake in its Chinese tower crane rental unit by buying 2.13 million shares for about S$5.9 million.

Tat Hong bought the entire interest held by Joyful Shine Holdings, raising its effective stake in the unit, Tat Hong Equipment Service, to 84.6 per cent.

Tat Hong said the prospects for the tower crane rental business in China remain healthy in the near to medium term.