World Precision Machinery (SGX:B49) increased the registered share capital of Hainan Xingmei Spring Hotel by 28.6 million yuan, according to a filing with the Singapore Exchange on Thursday.
The amount is payable by the company's subsidiary, Hainan World Tourism Investment by Jan. 31, which constitutes the third tranche payment.
Following the increase of the capital, Hainan World Tourism now has a 64.61% stake in the capital of Hainan Xingmei Spring Hotel, which now becomes a subsidiary of the group.
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