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Hong Leong Asia says Xinfei unit to undergo restructuring exercise

PC Lee Published on Mon, Oct 30, 2017 / 9:32 PM GMT+8

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SINGAPORE (Oct 30): Hong Leong Asia’s consumer products unit Xinfei will undertake a restructuring exercise involving the cessation of its manufacturing and production activities after conducting a strategic review.

Xinfei’s principal activities involve the manufacturing and distribution of white goods including refrigerators, freezers and air-conditioners in China.

Hong Leong Asia says it is also exploring strategic participation with potential partners in business opportunities using Xinfei’s trademark and intellectual property, which may include brand licensing, OEM or other arrangements.