Guangxi Yuchai Machinery Company Limited, the subsidiary of New York-listed China Yuchai, has been removed from the Unverified List by the US Department of Commerce.
China Yuchai is, in turn, the subsidiary of Hong Leong Asia. Hong Leong Asia is the manufacturing and building materials holding company of the Kwek family. The family owns other businesses including City Developments Limited (CDL).
Guangxi Yuchai Machinery Company Limited first announced on Oct 16 that it had been included in the list.
According to its latest announcement on Dec 16, Guangxi Yuchai Machinery Company Limited's business continues to “operate normally with no major supply chain impact”.
Shares in Hong Leong Asia closed flat at 66 cents on Dec 16.