Artfield pays out on clocks

ARTFIELD Group says it has paid $916,340 for wooden clock cases bought from Shanghai Zhong Ya Piano Co from July to October.

Shanghai Zhong Ya is owned by two Chinese enterprises and Artland Industries, which holds a 65.4 per cent stake.

Artland is owned 60 per cent by Ip Yiu-tung and 20 per cent by Ip Chun-keung, who are directors of Artfield.

Ho Kwan-ching and his family members have a 10 per cent stake, while Yip Chi-wai and his sister own the remaining 10 per cent.

Mr Ho and Mr Yip are also directors of Artfield.