Yaw chee ming biography of martin luther

SINGAPORE - StarChase Motorsports, an affiliate of Singapore-based multi-franchise motor group Wearnes-StarChase, has completed the sale of its Porsche dealership business in China - a move that has taken some observers by surprise.

Hong Kong-listed Chinese motor conglomerate China MeiDong Auto paid 3.7 billion yuan (S$0.8 billion) for the dealerships in several cities, including Nanjing, Qingdao, Tianjin and Zhengzhou.

The transaction, which took four month to complete, has raised some eyebrows.

"Porsche is doing extremely well in China.

And there is no apparent threat of the manufacturer applying the agency model there," said a senior executive with a regional motor distributor, referring to an operating model where car manufacturers control retail sales, and relegate dealers to agents with fixed, thinner margins.

Another industry player said: "It's a very good price.

And perhaps they (Wearnes-StarChase) wanted something with a better return on investment."

In an announcement