Singapore Windsor

Singapore Windsor (SP Windsor): Group proposed to dispose its entire 70% stake in Windsor Manganese Limited (WML) to Bright Legend Investment Limited for HK$45m (S$7.3m) in cash, which compares with its FYMar13 NAV of HK$4.6m. The cash proceeds will be used to repay the group’s loans and improve its gearing from 86% to 59%. SP Windsor will thereafter focus on its remaining business in the manufacture and sale of moulds and printed circuit boards, while seeking to expand and diversify its operations. WML was a loss-making segment for the group, involved in the manufacturing and sale of silicon manganese in Yongzhou, Hunan, China.