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BRIEF-Asia Resources announces disposal of stake in Shenzhen Penghongsheng Industrial Development
June 6, 2017 / 2:21 PM / 2 months ago

BRIEF-Asia Resources announces disposal of stake in Shenzhen Penghongsheng Industrial Development

1 Min Read

June 6 (Reuters) - Asia Resources Holdings Ltd

* Announces disposal of 40% equity interest in and sale loan owed by shenzhen penghongsheng industrial development company ltd

* Unit entered into disposal agreement with shenzhen shi anye chuangzhan investment development company in relation to disposal

* Disposal for a consideration of rmb160 million

* Group is expected to record an unaudited gain on disposal of approximately rmb2 million

* After deducting expenses relating to disposal, it is expected that there will be net proceeds of approximately rmb159.6 million Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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