InnoTek Restructures Subsidiaries in SG$15 Million Equity Transfer Deal
MT Newswires
Sep 21
Precision engineering company InnoTek (SGX:M14) said its subsidiary, Mansfield Manufacturing will transfer its equity interests in five units to InnoTek Holding (S), a newly incorporated unit in Singapore, according to a Friday filing with the Singapore Exchange.
The transfers total SG$15.4 million. The equity transfers cover Mansfield (Thailand) for SG$8.3 million, Mansfield Technology (Thailand) for SG$3.6 million, Mansfield Manufacturing (M) in Malaysia for SG$2.6 million, Mansfield Vietnam for SG$868,609, and Mansfield Technology (Taiwan) for SG$53,852.
The restructuring is aimed at streamlining the group's structure to enhance operational efficiency, InnoTek said.
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