Brief: Santak Holdings says co has initiated an ongoing business restructuring plan
29/08/2016 14:53
Aug 29 (Reuters) - Santak Holdings Ltd SATK.SI : * Initiated an ongoing business restructuring plan * Plan may involve, inter alia, the restructuring and/or disposal of the assets and/or business of its China operation, which was loss making. * Board will also review and restructure its Singapore operations, inter alia, improving its capabilities and business * Has commenced negotiation with third-parties for the potential disposal of certain assets and/or business of its China operation * Board will also review and restructure its Singapore operations, inter alia, improving its capabilities and business. * As at date of announcement co is still negotiating and finalizing terms with potential buyer and no definitive agreement have been entered into * Source text for Eikon ID:nSNZbQ5RVH * ((Further company coverage: SATK.SI )) ((Bangalore.newsroom@thomsonreuters.com))
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