Reported 11 months ago
New Vision (4909), a network communication factory, has decided to dispose of its subsidiary, Fidin (Guangzhou) Electronics, in anticipation of a profit of about 280 million NTD. The disposal will be completed in five phases starting from the end of this year. New Vision established Fidin (Guangzhou) Electronics in a third country in 2003 to serve customers in mainland China. Due to rising competition and challenges in the electronic industry, Fidin has been facing losses. With the increasing market competition, New Vision decided to sell 100% of the shares of Fidin to avoid further losses and adverse impacts on its own operations. This move is expected to contribute around 2.9 NTD per share to New Vision's earnings.
Source: YAHOO