Singamas Container (HKG:0716) agreed to sell 50.68% interest in Singamas Logistics (Tianjin) to SITC Logistics (HK) for 36.3 million yuan.

SITC Logistics (HK) will contribute an additional capital of around 16.70 million into Singamas Logistics (Tianjin).

Following completion, the company's shareholding in the target, which engages in the provision of container storage and repair services, will be reduced to 40%.

The company will use proceeds for other potential capital investments and general working capital.