Success Dragon may shift majority shareholder

Hong Kong-listed Success Dragon International Holdings has announced a new deal that may see a change in the company’s majority shareholder.

According to a filing from the company on Wednesday, Mr. Yong Khong Yoong Ma, who currently holds 24.65 percent in the company, has entered into a MOU with Ms Zhang Lin Lin, a holder of around 8.4 percent of entire issued shares for his total interests in the company.

“The Possible Disposal, if it materialises, will lead to a change in control of the Company,” said the company in a filing.

The deal is expected to confirm sometime by June 17, 2017.