Cypress Jade Agricultural (00875) said it agreed to sell the entire issued share capital in Trade Rise Holdings Limited at HK$6 million in cash.
The target group is principally engaged in cultivating and trading of agricultural produce. In view of the continuing decrease in the market price and the increase in production cost of agricultural products in Hong Kong and Mainland China, the results of target group are no longer satisfactory for Cypress Jade, together with the uncertainty and keen competition of the agricultural produce market, Cypress Jade decided to sell such business.
It is expected that the Group will recognize a gain of about HK$1.15 million as a result of the disposal.
27/05/2015 10:19
Cypress Jade (00875) sells agricultural produce trading unit
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