Mainboard-listed Asia Food & Properties (AFP) on Thursday said it is planning a demerger of its China property business. The firm's China property business will now be held under a new unit called Bund Center Investment, which will be listed on the Singapore exchange. The demerger will take place through a capital reduction in AFP, and a distribution of shares in the capital of Bund Center Investment...
Asia Food & Properties
Asia Food & Properties has returned to the black in its fiscal first quarter. The firm reported a profit of S$45 million, overturning a loss of S$2.7 million in the year-ago period. Revenue rose 9.5 percent to S$195 million, mainly from its China property business and its food operations. Asia Food & Properties said the outlook for the commercial and hotel sector of the China property business...