Advertisement
Singapore markets close in 6 hours 39 minutes

  • Straits Times Index

    3,267.04
    -26.09 (-0.79%)
     

  • Nikkei

    37,755.83
    -704.25 (-1.83%)
     

  • Hang Seng

    17,291.83
    +90.56 (+0.53%)
     

  • FTSE 100

    8,040.38
    -4.43 (-0.06%)
     

  • Bitcoin USD

    64,262.36
    -2,401.43 (-3.60%)
     

  • CMC Crypto 200

    1,382.91
    -41.19 (-2.89%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • Dow

    38,460.92
    -42.77 (-0.11%)
     

  • Nasdaq

    15,712.75
    +16.11 (+0.10%)
     

  • Gold

    2,331.30
    -7.10 (-0.30%)
     

  • Crude Oil

    82.73
    -0.08 (-0.10%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • FTSE Bursa Malaysia

    1,571.77
    +0.29 (+0.02%)
     

  • Jakarta Composite Index

    7,151.61
    -22.92 (-0.32%)
     

  • PSE Index

    6,586.33
    +13.58 (+0.21%)
     

Xinren Aluminium buys into Coal business

Vincent Chia
Xinren Aluminium buys into Coal business

Xinren Aluminium Holdings Limited announced that its 51% subsidiary has bought into a coal business. The purchase is a 55% stake in Xinjiang Tianfu Coal Mining Co. Purchase consideration is RMB 88.6million. A third party valuation commissioned by the vendor in Jun 2013 provided this valuation of the net asset value of Xinjiang Tianfu. The purpose of the purchase is to ensure that Xinren Aluminium has its own source of coal. This can lower its cost of production.

GET TO THE POINT : Xinren Aluminium has always chosen Cost Leadership as its competitive advantage. This purchase should further strengthen it.

Related Articles:

The post Xinren Aluminium buys into Coal business appeared first on Asean Equities Review.