Hi-P unit enters into JV with Cino Coffee Machines

SINGAPORE (June 16): Hi-P International announced that its subsidiary, Huglomerate (Shanghai) International Trading has entered a joint venture agreement with Cino Coffe Machine Mfg to produce coffee machines, package coffee and beverages, and other related products.

Huglomerate and Cino will be incorporating a JV company in Shenzhen with a paid-up capital of RMB15 million ($3.04 million).

Cino will hold an initial shareholding proportion of 80%, while Huglomerate will hold 20%.

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