Wong's Kong King International to Liquidate Loss-Making Unit

MT Newswires Live

Jan 02

Wong's Kong King International (HKG:0532) said indirect wholly-owned unit Dongguan Nissin Plastic Products' sole shareholder will begin liquidation and de-registration procedures to voluntarily dissolve the unit, according to a Friday Hong Kong bourse filing.

The move comes as Dongguan Nissin Plastic Products has continuously been making losses.

The liquidation will allow the firm to reduce its losses, reallocate and optimize resources and management efforts to other existing businesses, and explore further business opportunities.

Dongguan Nissin Plastic Products' was established in China in 1994 and engages mainly in the manufacture of plastic products with exports mainly to overseas markets.

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