Ch Mer Land (00978) to further contribute Rmb559m in JV

    China Merchants Land (00978) said the Group estimates the total investment value in developing a piece of land situated at the east side of Jianshe Yilu, Xinan Street, Sanshui District, Foshan City, Guangdong Province, the PRC through the joint venture company Foshan Dingtu Property Development Co., Ltd. is about Rmb2,177 million.
  Foshan Dingtu Property is owned as to 50% by China Merchants Land and 50% by Guangzhou Dingjia Property Development Co., Ltd.
  Based on the shareholding proportion of China Merchants Land in Foshan Dingtu Property, the Group estimates the share of total investment value (including the previous contribution) in Foshan Dingtu Property is around Rmb1,088 million. Therefore, to meet the financial needs of Foshan Dingtu Property, China Merchants Land shall provide Foshan Dingtu Property a further contribution of about Rmb559 million, which may be paid by way of shareholder's loan, depending on the actual funding requirements of the land, the financing capability of Foshan Dingtu Property and the internal approval by the Group. The further contribution shall be funded by internal resources of the Group.