Best Linking Group Holdings' Subsidiary to Purchase Heavy Duty Machinery from South Wing, Shares Up 5%

MT Newswires Live11-22

Best Linking Group Holdings' (HKG:9882) subsidiary Best Linking, on Nov. 1, agreed to purchase heavy-duty machinery from South Wing Machinery, subject to independent shareholders' approval, a Friday Hong Kong bourse filing said.

The term of the purchase framework agreement will start from the date of said approval at the company's extraordinary general meeting and expires on Dec. 31, 2026.

The proposed annual caps for the purchase framework agreement are, HK$20 million for 2024, HK$32 million for 2025, and HK$35 million for 2026.

The company plans to purchase brand-new excavators and generators, among a range of other products, from South Wing and resell them to the group's customers.

The company will convene its extraordinary general meeting on Dec. 10 to propose the resolution regarding the purchase framework agreement.

The mechanical parts and components manufacturer and seller's shares were up nearly 5% in recent trade.

Price (HKD): $0.89, Change: $+0.040, Percent Change: +4.71%

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