HO BEE I VESTME T LTD (Incorporated in the Republic Of
Singapore) (Company Registration No. 198702381M)
ESTABLISHME T OF EW JOI T VE TURE COMPA IES I ZHUHAI,
PEOPLE'S REPUBLIC OF CHI A
Further to the announcement made on 24 October 2011, the
Board of Directors of Ho Bee Investment Ltd ("HBI" or "the
Company") wishes to announce that the Company has set up two
joint venture companies in Zhuhai, People's Republic of China
("JV Companies") with Yanlord Real Estate Pte. Ltd. ("YRE")
and Shanghai Youyou (Group) Co., Ltd. ("SYY"). Details of the
JV Companies are set out below:-
Name of JV Company (1) : Zhuhai Yanlord Heyou Land Co., Ltd.
Registered Capital : USD98,000,000.00
Principal activity : Property development and management
Shareholders : 1. YRE (60% shareholding interest)
2. HBI (20% shareholding interest)
3. SYY (20% shareholding interest)
Name of JV Company (2) : Zhuhai Yanlord Youmei Land Co., Ltd.
Registered Capital : USD98,000,000.00
Principal activity : Property development and management
Shareholders : 1. YRE (60% shareholding interest)
2. HBI (20% shareholding interest)
3. SYY (20% shareholding interest)
The above transaction is not expected to have any material
impact on the net tangible assets or earnings per share of
the Company for the financial year ending 31 December
2011.
Mr Ong Chong Hua, an executive director of the Company has
been appointed as a director of the JV Companies. Save as
disclosed herein, none of the directors or controlling
shareholders of the Company has any interest, direct or
indirect, in the above transaction.
By Order of the Board
Tan Sock Kiang
Company Secretary
23 November 2011
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| Documents associés | |
| Establishment of new joint venture companies in Zhuhai, People's Republic of China |