Yangzijiang Shipbuilding

The shipbuilding company's directors have endorsed the proposed spin-off of the group's investment segment for a separate listing on the Singapore Exchange's mainboard.

In a bourse filing on Friday (Apr 1), it stated that the directors are of the opinion that the spin-off is in the group's "best interest", and have recommended that shareholders vote in favour of it at an upcoming extraordinary general meeting on Apr 18. The directors had considered the terms and the rationale for the proposed spin-off, and concluded that its tangible economic benefits to shareholders are "substantial, quantifiable and clearly achievable".