Yangzijiang sells stake in associate company for 29.5m yuan

YANGZIJIANG Shipbuilding said on Tuesday it has disposed of an investment in an associated company for 29.5 million yuan (S$5.99 million).

The disposal - of its 20 per cent equity interest in Jiangsu Hailan Marine Systems Technology (JHMST) - is made through its wholly-owned subsidiary, Jiangsu New Yangzi Shipbuilding.

Following the disposal, JHMST will cease to be an associated company of Yangzijiang. The group said this will not have any significant impact on its earnings per share and net tangible assets per share for the current financial year ending Dec 31.