Yeo Hiap Seng sells Shanghai subsidiary for $16.7 mil

SINGAPORE (Oct 16): Yeo Hiap Seng on Monday announced the disposal of its entire equity interest in Yeo Hiap Seng (Shanghai) Co. for a total of $16.7 million in cash.

Following the disposal, which was completed on Oct 13, YHS Shanghai has ceased to be a wholly-owned subsidiary of the company.

Yeo Hiap Seng says the disposal is not expected to have a material impact on the group’s consolidated net tangible assets or earnings per share for the financial year ending Dec 31, 2017.

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