-
Tai United (00718) to sell London commercial building
Tai United (00718) said it agreed to sell the entire issued share capital of Leon Property Ltd
for GBP21.66 million (equivalent to about HK$217 million) and it repaid the shareholder's
owed by the disposal target of about GBP31.06 million (equivalent to about HK$311 million).
The aggregate amount borne by Tai United amounted to GBP112 million (equivalent to about
HK$1,120 million) (subject to adjustments).   The disposal target owns a commercial building, namely 10 Hammersmith Grove, situated in
Hammersmith, in the west of London. The property comprises an internal area of around
122,744 square feet and has accommodated seven tenants including but not limited to
offices and restaurants, such as Philip Morris, Fox, UKTV and Accor.
  The estimated unaudited capital gain from the disposal is about HK$85 million. The 
estimated net proceeds of about GBP50.72 million (equivalent to about HK$507 million) will
be applied for future reinvestment into other potential real estate projects and/or as 
general working capital of the Group.

Comments

Post a Comment

Popular posts from this blog

-
CLSA lowers Beijing Ent Water (00371) to HK$6   CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating.   The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not  necessarily bad.   CLSA cut its 2018-19 earnings forecasts by 19%. At the current level, it believes many  of the negatives are already priced-in.
Read more
-
HSBC HOLDINGS Appoints Malaysia CEO as Asia-Pacific One-Belt-One-Road Biz Manager  HSBC HOLDINGS(00005.HK)    +1.150 (+1.574%)    Short selling $311.30M; Ratio 15.773%   announced that Malaysia CEO Mukhtar Hussain was appointed to the newly created position of head of Belt and Road initiative in Asia Pacific, effective from 1 July.
Read more
-
Image
WKK INTL (HOLD) (00532.HK)    +0.100 (+15.152%)      announced the results for its subsidiary, Taiwan Kong King, for the nine months ended September 2014. The unaudited combined after-tax net profit decreased 30.26% to $12.239 million, compared with the same period last year. Revenue amounted to $177 million.
Read more