Coastal Greenland (01124) said it agreed to sell 80% of the registered capital of Guangzhou Haicong Real Estate Company Limited for Rmb80 million.
The disposal company is principally engaged in property development. It is currently the project company for the redevelopment project to be carried out at Tangcong Village, Baiyun District, Guangzhou, the PRC. The project is still in its initial stage of development and construction work has not yet commenced.
Upon completion, the Group is expected to record an unaudited loss on disposal of about HK$14,000. Coastal Greenland intends to apply the net proceeds for repayment of the interest-free, outstanding loan in the principal amount of Rmb100 million granted by the disposal company to Coastal Greenland.
23/06/2017 09:51
Coastal GL (01124) to sell stake in redevelopment project
- 經濟通
- 強化版MQ
- 強化版TQ
- 財曆
- Mobile
Web
