Singamas Container Holdings Limited (Singamas) has released supplemental details on the disposal of its wholly owned subsidiary Shanghai Singamas Logistics Technology Co., Ltd. (SLTC), confirming a post-transaction dilution of its equity interest from 100% to 40%.
Immediately prior to completion, Singamas held 100% of SLTC’s RMB67.72 million registered capital. Under the revised agreement, SITC will acquire 50.68% of the registered capital—equivalent to RMB34.32 million—for a cash consideration of RMB36.32 million and inject a further RMB16.70 million into SLTC (RMB15.78 million as new registered capital and RMB0.92 million as reserve). As a result, SLTC’s registered capital will increase to RMB83.50 million, leaving SITC with a 60% majority stake and Singamas with the remaining 40%.
The aggregate RMB53.02 million payable by SITC reflects 60% of SLTC’s enlarged appraised value of RMB88.37 million. This valuation is based on an independent asset-based appraisal conducted by China United Assets Appraisal Group, which pegged SLTC’s net asset value at RMB71.67 million as of 30 April 2026—up RMB22.91 million from its book value of RMB48.76 million. The uplift was mainly driven by higher valuations of land-use rights and buildings, assessed using market comparison and cost approaches respectively.
Singamas reiterated that the asset-based approach was selected because SLTC’s worth is rooted largely in non-current assets rather than earnings, which have shown volatility influenced by policy and economic conditions.