FINWIRES · TerminalLIVE
FINWIRES

Hin Sang Explores HK$183 Million Sale of Hong Kong Properties; Shares Up 11%

By

-- Hin Sang (International) (HKG:6893) is seeking buyers for two Hong Kong properties with indicative asking prices totaling HK$183 million, according to a Tuesday bourse filing.

Shares of the healthcare and household products company were up over 11% in Wednesday morning trade.

The assets include a property and car park in Sha Tin with an indicative asking price of HK$138 million, and a Tsim Sha Tsui property with an asking price of HK$45 million.

The company has signed a legally binding mandate agreement with a property agent to market the assets, but no sale and purchase agreement has been entered into.

Hin Sang said proceeds from the potential disposals may be used to support business development and to repay outstanding bank borrowings, thereby reducing finance costs.

Related Articles

Asia

Pangrim to Retire KRW23.9 Billion Worth of Treasury Shares

Pangrim (KRX:003610) plans to retire about 4.09 million treasury shares, valued at 23.9 billion won, according to a Wednesday filing with the Korea Exchange.The shares will be retired on May 20 at a par value of 500 won apiece.Shares of the textile manufacturer fell more than 2% in recent trade.

$KRX:003610
Asia

Great Eastern's Q1 Profit Steady as Sales Surge 16%

Great Eastern's (SGX:G07) profit attributable to shareholders remained relatively unchanged during the first quarter of the year from a year earlier, according to a Wednesday filing with the Singapore Exchange.The attributable profit came in at SG$346.3 million, versus SG$345.5 million in the year-ago period.Total weighted new sales surged 16% year over year to SG$401.9 million in the three months ended March 31, from SG$345.1 million, backed by sustained momentum from Singapore operations.

$SGX:G07
Asia

Metallium Secures Contracts Covering Half of Stage One Throughput Target

Metallium (ASX:MTM) secured contracts covering 50% of its first-stage throughput target of 8,000 tonnes per year of printed circuit board feedstock for US operations, according to a Wednesday filing with the Australian bourse.The company is targeting a contracted base of roughly 70% of the first-stage target, while retaining about 30% exposure to spot market procurement, the filing said.Meanwhile, commissioning at the company's Texas Technology Campus is currently underway, per the filing.Metallium shares fell 1% in midday trade on Wednesday.

$ASX:MTM