The wholly-owned Chinese subsidiary Tat Hong Equipment (China) has signed a memorandum of understanding with Fushun Yongmao Construction Machinery Co to set up a joint venture called Beijing Tat Hong Equipment Rental. The joint venture partnership is 55% Tat Hong and 45% Yongmao. The initial registered capital is RMB 20m (USD 2.9m).
Tat Hong also has a 20% shareholding in Fushun Yongmao parent Yongmao Holdings, which is publicly traded in Singapore.
