SINGAPORE (April 13): Hi-P (Shanghai) International Trading Co., Ltd., an indirect wholly owned subsidiary of Hi-P International, has disposed its investment in a start-up company comprising 4.44% of the total shareholding of the company for RMB52.6 million ($11 million).

The cost of investment in the company was RMB2.2 million.

The firm expects to register a pre-tax gain on disposal of investment of RMB 50.4 upon completion of the disposal. The sale is expected to have a positive impact on the group’s earnings per share and net tangible  assets per share for the fin ancial year ending Dec 31, 2016.

Hi-P last traded at 41 cents on Tuesday.