Thakral Corporation dumps dormant STEICL
The former subsidiary has been transferred to a third party at a nominal consideration of RMB1 in cash.
The Board of Directors of Thakral Corporation Ltd announced that the Group has disposed of its indirect wholly-owned dormant subsidiary Shanghai Thakral Electronics Industrial Corp. Ltd.
STEICL had been dormant for a number of years and the Group’s investment/net asset value in the subsidiary had been fully provided for in the past, according to the announcement.
The company will be excluded from the Group’s financial statements from the current quarter ending 30 September 2012.