On July 19, Sing-Hu International, Shanghai Shenyu and Seyen Machinery, entered into a subscription agreement where Seyen Machinery will subscribe for 96.93% of the shares in Shanghai Shenyu for RMB96.9 million ($17.9 million). The consideration will be paid in cash.
Tuan Sing Holdings (SGX:5IC
) , through its wholly-owned subsidiary, Sing-Hu International Pte Ltd, has divested a majority of its indirect investment in a parcel of vacant greenfield land in Shoushan Countryside, Jin’an District in Fuzhou City, Fujian Province. The land measures some 163,740 sq m or 1.762 million sq ft.
The divestment was made through the dilution of its shares in Shanghai Shenyu Interior Decoration Limited Liability Company to Seyen Machinery (Shanghai). Shanghai Shenyu was held by Fujian Ji’Xing Real Estate Development Co., Ltd (FJX), an indirect wholly-owned subsidiary of Tuan Sing Holdings (SGX:T24) . FJX is also a wholly-owned subsidiary of Shanghai Shenyu
