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Suntar Eco-City Secures 40% Stake in New Hainan Property Joint Venture

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Suntar Eco-City (SGX:BKZ), through its wholly-owned subsidiary, Wuping Suntar Eco-City Development, has entered into a joint venture to develop property in China's Hainan Province, according to a Tuesday filing wth the Singapore Exchange.

The company signed the agreement with Hainan Suiji Technology and Boyida (Shanghai) Health Technology to form the new property development entity called Zhuzhilan (Hainan) Technology.

Under the terms of the agreement, Wuping Suntar will own a 40% stake in the joint venture, while the other two partners will hold each own a 30% interest.

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