Shun Cheong acquires 25% stake and shareholders loan of Investrade

Shun Cheong(0650) announced its indirect wholly-owned subsidiary Wonderland had signed an agreement with a third party to buy the 25% stake of Investrade and a shareholder loan of HK$7.5 mln which held by the third party. The transaction will be paid by the  internal sources of Shun Cheong.After the dealing , the Investrade stake held by Wonderland will increase from 55% to 80%.Investrade is mainly engaged in supplying , fixing and repairing the kara OK hardware and controlling system in Hong Kong, Macau and mainland. The companyˇ¦s non-audited combined net profit during the period between February 7 and late December was HK$6193. The companyˇ¦s non-audited net tangible assets for the year ended late 2000 was about HK$6973.

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