Chasen Holdings (SGX:5NV) completed the proposed disposal of its 90% stake in Suzhou Promax Communication Technology to Wee Teck Wee, according to a filing with the Singapore Exchange on Thursday.
In an earlier filing, the company had reported that the subsidiary had incurred a loss of SG$4.2 million in fiscal 2024. The disposal allows the company to limit future losses.
The company now has a 10% stake in the subsidiary.
Chasen shares gained over 1% in recent trade.
Price (SGD): S$0.07, Change: S$+0.0010, Percent Change: +1.41%
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