Wing Lee Prop (00864) to sell assets to controlling holder

    Wing Lee Property Investments (00864) said it agreed to sell 22% interest in Wing Lee (Connector) Limited, the entire issued capital of Wing Lee (Switch & Jack) Limited and the entire issued share capital of China King Holdings Limited to controlling shareholder Bright Asia Holdings Limited for a total of HK$99.06 million.
  Wing Lee (Connector) is principally engaged in the design and manufacturing of electronic components. Its subsidiary holds an industrial complex at East of Xinggong Road and South of Keliu Road, Heyuan Hi-Tech Development Zone, Heyuan City, Guangdong Province. Wing Lee (Switch & Jack) is principally engaged in the manufacturing of electronic components. It has no material assets or businesses other than its interests in an industrial complex located at Xinling Road, Sulong Town, Luoding Village, Yunfu City, Guangdong Province. China King is principally engaged in property holdings business. It has no material assets or businesses other than its interests in an industrial complex located at Second Industrial Zone, Sijia Management Area, Qingfeng Road West, Shijie Town, Dongguan City, Guangdong Province. All three companies recorded losses for the year ended 31 December 2013.