Monday, December 20, 2010
HLN Tech, a precision components maker diversifies into the real estate business by paying S$14.5m in cash and shares for 58.33% of Greatly Holdings, which owns 30% of Tianjin Swan Lake Real Estate, a developer in Tianjin''s Wuqing District. HLN will end up with 17.5% of Tianjin Swan Lake. Details of the target co are not disclosed. Co reported a modest 1H10 S$483,000 profit vs a S$2.4m loss a year earlier, its first ever loss since listing in 2005.