CSC Holdings' (SGX:C06) 55% owned subsidiary, THL Foundation Equipment, entered into a joint venture agreement with X-Max to set up a joint venture company in Singapore, THL Foundation International, according to a filing with the Singapore Exchange on Friday.
The JV company will have an issued and paid up capital of SG$280,000 with THL Foundation Equipment holding a 55% stake.
Under the agreement, THL Foundation Equipment will dispose of 100% equity interest in its subsidiary, THL Vietnam, to THL Foundation International for a consideration of $210,000.
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