Metro Holdings dissolves subsidiary and affiliated company
This won’t have a significant impact on the consolidated financials, said Metro Holdings.
SGX-listed property investment and development group Metro Holdings has announced in a local bourse filing the dissolution of Metro Prop Investments and South Bright.
Metro Prop Investments, a Mauritius-based subsidiary of Metro Investments Holdings, was dissolved on 17 January. In turn, Metro Investments Holdings is a wholly-owned subsidiary of Metro.
Whilst South Bright, based in the British Virgin Islands, was dissolved last 31 January. South Bright is 48% indirectly owned by affiliated company Metro China Holdings – a wholly-owned subsidiary of Metro.
Both Metro Prop Investments and South Bright were inactive, Metro Holdings said.
The unexpected dissolution of both entities is seen to not have any noticeable effect on the consolidated net tangible assets per share and earnings of the group in the fiscal year ended 31 March, said Metro in a statement.