Guoco firm to sell Mimax

A GUOCO Group subsidiary has agreed to sell a 74 per cent stake in a Singaporean company for S$2.66 million (about HK$14.07 million). The buyer is a Malaysian group related to two Guoco directors and shareholders.

First Capital Assets, wholly-owned by First Capital Corp which is 51 per cent held by Guoco, will sell 3.33 million shares in Mimax Ribbons at 80 Singapore cents each to Kolok Malaysian.