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Sino Grandness Food Industry Group Limited ( (SG:T4B) ) just unveiled an update.
Sino Grandness Food Industry Group Limited has secured shareholder approval to dispose of its entire stake in Garden Fresh Beverage Group Co., Ltd., its main beverage subsidiary, to Ideutsch Health Technology Group (HK) Co., Ltd. The transaction, classified as both a major transaction and an interested person transaction under Singapore Exchange rules, was endorsed at an extraordinary general meeting where 98.07% of votes cast were in favor.
The disposal will be executed at a consideration of RMB850 million against Garden Fresh’s net asset value of about RMB1.2 billion, resulting in a one-off non-cash loss of approximately RMB365 million. Management highlighted that, on a pro forma basis, earnings per share for FY2025 would have improved from 4.86 fen to 5.94 fen if the transaction had completed at the start of the year, as the divestment removes the loss-making beverage segment and its associated bond interest costs from the group’s accounts.
More about Sino Grandness Food Industry Group Limited
Sino Grandness Food Industry Group Limited is a Singapore-incorporated food and beverage company, with operations conducted through various subsidiaries including Garden Fresh Beverage Group Co., Ltd. The group’s beverage segment has been a significant part of its business, though it has recently faced losses driven largely by substantial interest costs on bonds issued to Goldman Sachs Investments Holdings (Asia) Limited.
Technical Sentiment Signal: Strong Sell
Current Market Cap: S$22.99M
For a thorough assessment of T4B stock, go to TipRanks’ Stock Analysis page.