INFORMATION ON THE LAND. The Land is a parcel of land numbered G11340-8034 and situated at Maluan Subdistrict, Pingshan District, Shenzhen, the PRC. The site area of the Land is approximately 31,065 square meters, with a plot ratio of not more than 4.5. The Land is permitted for residential development and the term of grant is 70 years. In November 2019, Shengshi Guangye acquired the land use rights of the Land through public auction at a purchase price of approximately RMB2,560 million (approximately HK$2,892 million), which has been fully settled by Shengshi Guangye. On 19 January 2020, the land use rights of the Land was transferred to the JV Company.
INFORMATION ON THE LAND. Syarikat Prasarana Negara Berhad (“Prasarana”), a company incorporated in Malaysia and having its registered office and principal place of business at X-00-0, Xxxxx 00, Xxxxxx XXX Bangsar, Xx. 0, Xxxxx Xxxxxxx Xxxxx 0, 00000 Xxxxx Xxxxxx, is the registered lessee of the Land. Prasarana had on 7 March 2013 awarded to BPCSB a mixed development project on portion of the Land known as “Proposed Development of Abandoned Site (Adjacent to Monorail Depot), Brickfields at Xxx XX 000, Xxxxxxx 00, Xxxxxx Xxxxx Xxxxxx” on design and build basis (“Project”). The Project involves the construction and completion of a mixed residential and commercial strata development on the Land. BPCSB has been appointed as the developer of the Project. Subsequently, Prasarana has consented the appointment of BPDSB as the special purpose vehicle nominated by BPCSB to undertake the Project via the execution of a Joint Land Development Agreement dated 25 March 2014 made between Prasarana and BPDSB (“JLDA”). Prasarana, via Prasarana Integrated Development Sdn Bhd, had given its written consent dated 30 October 2017 for the change in BPDSB’s shareholding structure. Subsequent thereto, Prasarana and BPDSB shall enter into a Supplemental Agreement to the JLDA (“Supplemental JLDA”) to amend, vary and otherwise supplement the terms and conditions in the JLDA, allowing the equity participation of Titijaya up to 70% of the shareholding in BPDSB.
INFORMATION ON THE LAND. The land lot No.08-08 located at North Hongqiao Community, Jiangqiao Town, Jiading District, Shanghai, the PRC (嘉定區江橋鎮北虹橋社區) east to Jinyuan Road No.1, west to the base boundary, south to Xxxxx River and base boundary and north to base boundary (東至金園一路，西至基地邊界，南至李沙河、基地邊界，北至基地邊界) with a total land area of 19,255.2 sq.m., a plot ratio of not more than 2.7 and an aboveground gross floor area of not more than 51,989 sq.m.. The land use right of the Land shall be 40 years for commercial purpose. The unaudited net book value of the Land as of September 30, 2019 was approximately RMB321,288,000. As of the date of this announcement, a total costs and expenses incidental to the preliminary development of the Land of RMB12,996,059, principally as government taxes and staff costs, have been paid by Xxxxxxxx Xxxx (and its associates).
INFORMATION ON THE LAND. The JV Company is the owner of the Land, a parcel of land situated at Maogang Road, Huangpu District, Guangzhou City, Guangdong Province, the PRC. The site area of the Land is approximately 13,802 square meters, with a plot ratio of 1.0 to 3.8. The Land is permitted for residential development and the term of grant is 70 years. The Land was acquired through public auction at a purchase price of RMB1,090,230,000 (equivalent to approximately HK$1,214,080,128) in November 2018, which has been fully settled. Reasons for and benefits of entering into of the Capital Injection Agreement The Group is principally engaged in the business of real estate development, specialised construction, property investment and securities investment. It is believed that the Deemed Disposal will bring in investor and hence strengthen the JV Company’s financial conditions and capital efficiency. The Directors (including the independent non-executive Directors) considered that the Capital Injection Agreement, which has been entered into after arm’s length negotiation between the parties, are on normal commercial terms, and the terms thereof are fair and reasonable and in the interests of the Company and the Shareholders as a whole. None of the Directors has a material interest in the transactions contemplated under the Capital Injection Agreement and none of them is required to abstain, or has abstained, from voting on the relevant board resolutions approving the transactions contemplated under the Capital Injection Agreement. Listing Rules implications The joint venture arrangement in respect of the JV Company, being a single purpose vehicle to develop the Land for residential purpose for sale, was, among other things, made on an arm’s length basis on normal commercial terms, and accordingly, the formation of joint venture will be exempt from reporting, announcement and shareholders’ approval requirements under Rule 14.04(1)(f) of the Listing Rules. As one of the applicable percentage ratios under Rule 14.07 of the Listing Rules in relation to the Deemed Disposal exceeds 5% but all applicable percentage ratios are below 25%, the Deemed Disposal constitutes a discloseable transaction for the Company subject to reporting and announcement requirements under Chapter 14 of the Listing Rules.
INFORMATION ON THE LAND. Seri Alam is the beneficial owner of that piece of freehold land held under the master title HS(D) 310781, PT No. 158257, Mukim of Plentong, District of Johor Bahru, State of Johor. The Land measuring approximately 19.71 acres forms part of the master title and is currently vacant and free from encumbrances. The net book value of the Land based on the last audited financial statements as at 31 December 2010 was RM2.4 million.
INFORMATION ON THE LAND. The Lands are vacant parcels of freehold land measuring approximately 85.442 acres, which is currently classified as agricultural land although it is designated for residential development. The Lands are strategically located in Nusajaya and is approximately 40.0 kilometres to the South- West of Johor Bahru City Centre. Specifically, the Lands are adjacent to Kota Iskandar (the Johor State Government Administrative Centre) and ULHB’s existing prime development in Nusajaya, being Puteri Harbour, an integrated waterfront and marina development which offers a panoramic view of the Straits of Johor. In addition, the ICSB Land also forms part of the land bank measuring approximately 4,500 acres, which was effectively disposed off to Khazanah as part of the degearing exercise of the UEM World Berhad (now known as Global Converge Sdn Bhd) (“UEM World”) group of companies in 2006 (“Degearing Exercise”). UEM World was the previous immediate holding company of ULHB’s wholly-owned subsidiary, UEML (prior to ULHB’s listing on the Main Board (now known as Main Market) of Bursa Malaysia Securities Berhad in 2008). The Degearing Exercise was undertaken by the UEM World group with the intention to, amongst others, improve its gearing position via the disposal of landbank which required a long gestation period and large capital investment. Consequentially, the UEM World group would be in a stronger financial position to improve on its asset turnover and to focus on the development of its remaining landbank in Nusajaya.
INFORMATION ON THE LAND. The Land is located on the northwest side of Jianshe Avenue and the east side of Huiji Second Road, Jiang’an District, Wuhan City, Hubei Province, the PRC (中國湖北武漢市江岸區建設大道西北側, 惠濟二路東側) with a total site area of approximately 21,949.97 square meters. REASONS FOR AND BENEFITS OF THE PROPOSED TRANSACTION Property development and investment are among the principal activities of the Group. The Group intends to invest in the JV Company and to develop the Land consisting of private residential properties and commercial properties. The Land is situated in the second ring of Jiangan area of Wuhan City, PRC, and is strategically located in the core area of Wuhan City. The redevelopment will have a sizeable scale after demolition and reconstruction, which is likely to become a complex project with regional influence. The formation of the JV Company with CR Asset and WG Real Estate Development will result in the sharing of development cost and all future profits derived from the Land, thereby sharing both the risks and benefits thereof. The Company considers that the Group’s cash flow position will benefit from a lower capital requirement to develop the Land, and the redevelopment of the Land will further enhance the profitability of the Company. The Directors (including the independent non-executive Directors) are of the view that the Cooperation Agreement and the transactions contemplated thereunder are fair and reasonable on normal commercial terms or better, is in the interests of the Company and the Shareholders as a whole and in the ordinary and usual course of business of the Group. To the best knowledge, information and belief of the Board having made all reasonable enquiries, as at the date of this announcement, none of the Directors have any material interest in the Cooperation Agreement and none of them shall abstain from voting on the board resolutions approving the Proposed Transaction contemplated under the Cooperation Agreement. INFORMATION ABOUT THE PARTIES The Group The Company is incorporated in the Cayman Islands with limited liability and its shares are listed on the Main Board of the Stock Exchange. As at the date of this announcement, approximately 59.55% of the shares issued by the Company are indirectly held by CRI which in turn is ultimately owned by CRCL, a state-owned enterprise in the PRC under the supervision of XXXXX. The Group is principally engaged in the development and sales of developed properties, property investments and management, ...
INFORMATION ON THE LAND. The Land is located at Qiheng Factory District (啟恒廠區) and Yuntai Factory District (允泰廠區), Dalang Street (大浪街道), Long Hua New District (龍華新區), Shenzhen, the PRC. The total site area of the Redevelopment Project is approximately 23,095.42 sq.m., with an aboveground GFA of approximately 130,000 sq.m. The aboveground GFA of the Redevelopment Project (excluding the resettlement properties, ancillary facilities, ancillary supportive properties and economic accommodations) is approximately 88,414 sq.m. The total site area and the aboveground GFA of the Redevelopment Project are estimated figures only and are subject to changes and approval by the relevant government authority.
INFORMATION ON THE LAND. The Land, which forms part of the leasehold land with its expiry date on 29 December 2112 held under HS(D) 119301 PT 26689 in Mukim Batu, Daerah Kuala Lumpur, measures approximately 4.01 acres with category of use of ‘Bangunan’. It is a commercial zoned land and cannot be transferred, leased, collateralised or securitised without the consent of the ‘Jawatankuasa Kerja Tanah Wilayah Persekutuan Kuala Lumpur’. Commercially, the Land is located in Kiara Bay, near the Kepong Metropolitan Park, approximately 13 kilometres (“km”) northwest of the Kuala Lumpur City Centre. Codenamed Plot 9 in the Kiara Bay development master plan, the Land is directly accessible from the Kuala Lumpur Middle Ring Road Two and Jalan Kepong. A 2.5-km spine road called Persiaran Putra Bayu connects to Jalan Kepong allowing users to commute to the nearest MRT stations i.e. the Kepong Baru MRT Station and Jinjang MRT station, both part of the Sungai Buloh- Serdang-Putrajaya Line. The Land is also within proximity of The Beat, Kiara Bay’s latest waterfront retail and F&B outlets and is within walking distance of Kiara Bay’s first residential development; Residensi AVA, which is sold out and currently under construction. The net book value for the Land as of 31 December 2022 is RM71.1 million. Its original cost of investment is RM36.9 million as of 13 April 2018. Under the Proposed DRA, MLSB’s role is to develop the Land. At this point in time, the Company has yet to ascertain the Project’s total development cost and potential gross development value. Any approval to be obtained in relation to the Project has yet to be identified. The source of funds to finance the Project is detailed out in paragraph 2.8 below. The location map of the Land is attached as Appendix 1.
INFORMATION ON THE LAND. The Land measuring approximately 5,936 square metres or 1.47 acres, is a commercial leasehold land held under individual title PM 1779, Lot 35895 (formerly known as H.S.(M) 22748 PT 23026) Mukim Kuala Kuantan, Tempat Bandar Indera Mahkota, District of Kuantan,
