Hong Leong Asia (DE:HOM) has released an update.
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Hong Leong Asia Ltd. has announced that its subsidiaries in China are initiating two equity incentive schemes, which involve a collective increase of registered capital in MGP by RMB28 million (about S$5.20 million), representing a 6.54% stake. This move is part of a broader strategy to incentivize participants who will hold their interest through separate partnership vehicles. The company views this action as a disposal of interest in MGP, which will result in GYMCL retaining a 93.46% interest post-disposal.
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