ASTI - Dragon Group its 61.6% subsidiary to sell 100% of Dragon Technology & Distribution for US$19.4mn, its NTA......what does this mean for ASTI ?? Friday, 14 September, 2012 8:57 AM
Posted by Kevin Scully
ASTI announced last night that its 61.6% listed subsidiary Dragon Group has entered into a sales and purchase agreement to divest its 100% stake in Dragon Technology & Distribution at its NTA of US$19.4mn. In its half year ended June 2012, Dragon reported a 10% decline in revenue and a loss of S$1.23mn. We dont have detailed numbers on Dragon Technology and Distribution but it would appear that most of the debt in the ASTI Group and Dragon come from this entity in terms of short term working capital debt and the sale is good for both Dragon and ASTI.
As of yesterday, the market capitalisation of Dragon ......