08.01.2008

Tat Hong dilutes its Yongmao holding

Tat Hong has reduced its holding in Yongmao Holdings Pte, the Singapore based business, previously known as Sunfield investments, to 21.1 percent.

Yongmao holdings owns a 30 percent share in Fushun Yongmao Equipment Manufacturing Co, the Chinese tower crane company. Until this week Tat Hong directly owned 62 percent of the Yongmao Holdings and controlled over 77 percent of its equity.

No mention was made of who has purchased Tat-Hongs shares.

The dilution means that Yongmao Holdings is no longer listed as a subsidiary of the Tat Hong. See Yongmoa listing gets go ahead