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, Xxxxxxxx Xxxxxxx 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 Xxxxxxxx Xxxxxxx. On 19 January 2020, the land use rights of the Land was transferred to the JV Company.
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. 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. 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. Details of the Land are as follows: Title details : All of the following titles situated in Xxxxxxx 00, Xxxxxx Xxxxxxxx Xxxx, Xxxxxxxx of Petaling, State of Selangor Darul Ehsan: Pajakan Negeri 91465, Xxx 0000, Xxxxxxx 00 0.000 Xxxxxxx Xxxxxx 00000, Lot 2003, Seksyen 14 7.609 Registered owner : KDEB Beneficial owner : KHSB Description of the Land : The Land is generally flat in terrain, and it is divided by Sungai Penchala. It is located along Xxxxx 00X/000, 00000 Xxxxxxxx Xxxx, Xxxxxxxx, and approximately 400 meters from the Asia Jaya Light Rail Transit (LRT) station. It is easily accessible from the Federal Highway vide Jalan Utara and thereafter onto Jalan 51A/223. It is also accessible from Petaling Jaya town centre vide Jalan Barat, Jalan Utara and thereafter onto Jalan 51A/223. Land lease tenure : 99 years up to 7 April 2103 Category of land use : Commercial Existing use : Car park Encumbrances : The Land is currently charged to Malaysian Building Society Berhad (MBSB)
INFORMATION ON THE LAND a) The State Government of Perak Darul Ridzuan has identified the following Lands and has in principle granted approval to MB Inc. for development of the Land into a mixed development (housing and commercial).
(a) Plot 1 and Plot 2 in the Mukim of Xxxx, District of Kampar, State of Perak, measuring in area approximately 61.34 hectares (151.51 acres) (“Xxxx Land”), and
(b) Plot 3 in the Mukim of Sungai Raya, District of Kinta, State of Perak, measuring approximately 27.44 hectares (67.78 acres) (“Xx Xxxx Land”),
b) In line with the policies and guidelines of the State Government of Perak Darul Ridzuan, the development on the Land shall comprise, inter alia, affordable housing together with amenities and basic infrastructure serving the development.
c) NMSB will be making an application to the appropriate authority to realign the Mukim of Plot 1 and Plot 2 with Plot 3 to enable NMSB to carry out effectively the development on the Land.
d) To expedite the development of the Land, MB Inc. is desirous of granting the right to develop the Land and the right to undertake the development to a special purpose vehicle (i.e. NMSB) wherein MB Inc. will participate as the beneficial owner of part of the issued and paid-up ordinary shares of the special purpose vehicle.
e) MB Inc., RMSB and NMSB (“the Parties”) have agreed to collaborate and co- operate with each other and have incorporated NMSB as the special purpose vehicle for the development of the Land (“Collaboration”). For the purpose of the Collaboration, MB Inc. is the beneficial owner of 15% of the issued and paid-up ordinary shares of NMSB and RMSB is the beneficial owner of 85% of the issued and paid-up ordinary shares of NMSB (“Agreed Proportion”).
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 is located in Shijiazhuang, PRC with a total site area of approximately 63,700 square metres. The Land is designated for commercial and financial use. As at the date of this announcement, the Land was a vacant site with limited foundation works carried out and was not subject to any tenancy. As at 31 December 2019, the net book value of the Land attributable to the Group’s audited account (taking into account, among others, the cost of the Land and the cost of the limited foundation works carried out) was approximately RMB730.6 million. As at 31 December 2020, the net book value of the Land attributable to the Group’s audited account (taking into account, among others, the cost of the Land and the cost of the limited foundation works carried out) was approximately RMB742.1 million. Accordingly, the Disposal would result in a loss to the Group of approximately RMB142.0 million (before taxes). The actual amount of the loss from the Disposal to be recorded by the Group is subject to audit and will take into account any other costs and expenses incurred relating to the Disposal, and accordingly, it may be different from the amount stated above.
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 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,
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 approximately RMB1.09 billion (equivalent to approximately HK$1.27 billion) in November 2018, which has been fully settled save for certain outstanding tax payable.
