YHI International yesterday said its wholly-owned subsidiary YHI Corporation (Singapore) has entered into a memorandum of understanding with the Yokohama Rubber Co (YRC) to set up a joint venture in Shanghai.

YHI Corporation will hold 49 per cent in Yokohama Tire (Shanghai) Sales, which will distribute tyre products in China.

An investment vehicle belonging to YRC will hold the rest.

《The Straits Times》