Hilong Holding Approves US$100 Million Vessel Sale

Tip Ranks
2025.10.16 10:08
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Hilong Holding Ltd. has approved the sale of a vessel to PT CAKRA BUANA RESOURCES ENERGI TBK for US$100 million during its 2025 extraordinary general meeting. This decision, supported by a majority of shareholders, aims to streamline operations and potentially reallocate resources, positively impacting market positioning and stakeholder interests. Hilong Holding, listed on the Hong Kong Stock Exchange under stock code 1623, operates in the shipping industry, focusing on vessel sales and management.

Hilong Holding Ltd. ( (HK:1623) ) has shared an announcement.

Hilong Holding Limited announced that during its 2025 third extraordinary general meeting, a resolution was passed approving the sale of a vessel to PT CAKRA BUANA RESOURCES ENERGI TBK for US$100 million. This decision, supported by an overwhelming majority of shareholders, reflects the company’s strategic move to streamline operations and potentially reallocate resources, which could impact its market positioning and stakeholder interests positively.

More about Hilong Holding Ltd.

Hilong Holding Limited is a company incorporated in the Cayman Islands, operating with limited liability. It is listed on the Hong Kong Stock Exchange under the stock code 1623. The company is involved in the shipping industry, focusing on the sale and management of vessels.

Average Trading Volume: 4,547,379

Technical Sentiment Signal: Buy

Current Market Cap: HK$441.1M

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