World Precision Machinery (SGX:B49) has completed the second tranche payment for the proposed acquisition of a 100% equity stake in a to-be-incorporated project company, according to a Tuesday filing on the Singapore Exchange.
The payment, amounting to 24 million yuan, was made on Dec. 3. The funds were injected as equity into the project company, Hainan Xingmei Spring Hotel, bringing its registered capital to 52.8 million yuan.
As a result, World Precision's wholly-owned subsidiary, HWTI, now holds a 45.45% equity stake in Hainan Xingmei Spring Hotel, which has become an associated entity of the group.
The remaining 106 million yuan in payments are scheduled for subsequent installments.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。