It adds that it does not expect that it would require shareholders’ approval for the proposed spin-off despite MGP being its principal subsidiary.
Guangxi Yuchai Marine and Genset Power Co., Ltd., (MGP) an indirect subsidiary of China Yuchai International, has applied to list its shares on the Mainboard of the Hong Kong Stock Exchange (HKEX). China Yuchai International, which is listed on the New York Stock Exchange (NYSE), is 48.7%-owned by Mainboard-listed Hong Leong Asia.
In connection with the proposed listing, Hong Leong Asia made an application to the Singapore Exchange Securities Trading Limited (SGX-ST). According to the company’s Jan 27 filing, the SGX-ST said it had “no comments” on the spin-off.
