• Singapore stock market and companies daily report (GKE Corporation) (September 17, 2015)

    GKE Corporation announced the sale of the group’s entire shareholdings in Ever Flourish Development – incorporated in Hong Kong with an issued and paid-up share capital of HK$6.2 million – for a consideration of Rmb15 million.

    Ever Flourish in turn holds a 40 percent of Maoming City Hung Ji Construction Materials (Mao Ming) that owns and operates a factory that produces and manufactures environmental friendly lightweight brick, building materials and cement products.

    As the group does not have management control over Mao Ming with its 40 percent stake, it is of the opinion that the sale will reap better benefits and allow it to focus on the operations of its wholly-owned unit, Wuzhou Xing Jian Ready-mix Co.

    Contributed by Shares Investment
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