Great Wall replenishes reserve

PUBLISHED : Friday, 14 November, 1997, 12:00am
UPDATED : Friday, 14 November, 1997, 12:00am

Great Wall Electronic International yesterday proposed reducing its share premium account by an amount equal to $71.38 million. It said the amount would be transferred to a reserve for eliminating accumulated deficits in the goodwill reserve account and exchange fluctuation reserve account as at March 31 this year. The proposed reduction in share premium would not change the consolidated net tangible assets of the company.