SGX:566

2 stories mentioning SGX:566Updated just now

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SHS Holdings Unit Reaches Settlement With Chinese Contractor

SHS Holdings (SGX:566) subsidiary, Nanning Tidal Aluminium, reached a settlement with a construction contractor in China over disputed payment for its recycled aluminum factory in Guangxi, according to a Friday filing with the Singapore Exchange.After taking into account payments previously made by Nanning Tidal of about 44.7 million yuan, Nanning Tidal has agreed to pay another 89.4 million yuan to the contractor, which had sought 113.9 million yuan.Meanwhile, the company's other subsidiary, Guangxi Tidal Precision Technology, has provided joint and several guarantee liability for payment obligations.

SGX:566

Asia43d ago

SHS Holdings Overhauls Terms of Acquisition of Two Chinese Companies; Shares Down 7%

SHS Holdings (SGX:566), a producer and supplier of polyethylene and polypropylene compounds, updated terms to absorb 100% of the equity interests in two major Chinese manufacturing entities, according to a Wednesday bourse filing.Shares of the company were down nearly 7% in Thursday trading.Under the amendments, the company's subsidiary, SHS Capital, signed a fourth amendment letter to modify certain terms of the sale and purchase agreement for the acquisition of Guangxi Tidal Precision Technology and Nanning Tidal Aluminium.SHS Capital will pay a final base price of 126.9 million yuan. This total value includes 97.1 million yuan for the actual value of the companies' assets, 4.8 million yuan in set-aside funds for employee benefits, and 25 million yuan for a government grant balance.The consideration is subject to further adjustments under the agreement.

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