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SINGAPORE: Huan Hsin Holdings is divesting its 30 per cent stake in Inventec Huan Hsin (Zhejiang) Technology, or IHHZ, to Inventic Corporation.
Inventic will pay Huan Hsin Holdings US$8.8 million for its stake.
The completion of the disposal is scheduled to take place on September 30.
Huan Hsin Holdings said the disposal is in the best interests of the shareholders, as IHHZ is currently making losses with Huan Hsin has to bear.
The proposed disposal is also in line with the group's strategy to focus on its own core business where it has substantial and full management control
IHHZ is in the business of manufacturing notebook casing and assembling finished goods of related consumer electronics products, such as internet radio and personal computers. - CNA/vm
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