Millennium Group to sell packaging unit for HKD 14.8M
Sentiment and the balance of points
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Rhea-AI Filing Summary
Millennium Group International Holdings Ltd (MGIH) disclosed that its indirect Hong Kong subsidiary, Millennium Strategic International Limited, agreed on August 27, 2026 to sell all shares of Millennium Printing International Limited, a paper-based packaging trading business, to Yee Cheong (1926) Enterprise Company Limited for HKD 14,800,000 in cash. At completion, Millennium Strategic will release Millennium Printing from HKD 35,429,804 of intercompany liabilities, with Yee Cheong agreeing to pay the same amount, partly via set-off of shareholder loans to Millennium Holdings and partly in deferred cash installments. Yee Cheong is a related party whose ultimate beneficial shareholders also control YC 1926 (BVI) Limited, which holds 10,000,000 ordinary shares, or about 88.89% of MGIH’s outstanding ordinary shares. The audit committee of independent directors reviewed the transaction and it was approved by disinterested directors. Completion remains subject to customary corporate and regulatory approvals.
Key Figures
Key Terms
intercompany liabilities financial
set-off financial
disinterested directors regulatory
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What business is MGIH (MGIH) selling in this 6-K?
What is the sale price for Millennium Printing disclosed by MGIH (MGIH)?
How are intercompany liabilities handled in MGIH’s (MGIH) transaction?
AI-generated analysis. How Rhea-AI works. Not financial advice.