HealthBank Disposes of China Property Unit, to Foray into Other Businesses

MT Newswires

06/15

HealthBank (SGX:40B) agreed to sell its China property subsidiary, Libre Hospitality, for 9 million yuan, according to a Monday filing with the Singapore Exchange.

Libre has an 8% stake in the Atlantis Garden Project in Hainan, China, which has been stalled for a while.

Additionally, the company is looking to diversify into three business areas to increase its revenue stream.

The property development company will utilize proceeds from the disposal towards coconut plantation, medical supplies, and oil and gas trading businesses.

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