Kingdom Holdings (00528) said it entered into an investment agreement with Shenzhen Boyang Textile Industrial Co., Ltd., Heilongjiang Kailai Investment Co., Ltd. and the People's Government of Qinggang County of Heilongjiang Province in the PRC to establish a joint venture company with registered capital of Rmb100 million in Qinggang County, Heilongjiang Province, the PRC by the end of 2016, and the Qinggang Government will provide financial and other supports to the JV.
Upon completion of the formation of the JV, the JV will be owned as to 80% by Kingdom Holdings, as to 10% by Shenzhen Boyang and as to 10% by Heilongjiang Kailai.
The JV will be engaged in the manufacture and sale of worsted hemp and flax linen products with an anticipated annual output of about 5,000 tonnes.
03/05/2016 11:36
Kingdom (0528) to form worsted hemp & flax linen products JV
- 經濟通
- 強化版MQ
- 強化版TQ
- 財曆
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