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2006-10-24 06:50:00 a.m. HKT, XFNA
Hong Kong-listed Hanison Construction sells Sha Tin property for 180 mln hkd
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HONG KONG (XFN-ASIA) - Hanison Construction Holdings Ltd said it is
selling its entire stake in an industrial property in Sha Tin in Hong Kong
for 180 mln hkd.
It said in the statement the sale was made via unit Hanison Eco, whose
main asset was the industrial lot, also known as Sha Tin Town Lot 27 or
Health Plus Centre. The property has a gross floor area of 173,624 square
feet.
""The company considers it to be the right timing to dispose of the
property and realize a significant gain against its book value,"" it said.
The company expects to book 48.3 mln hkd from the sale, which will be
used as working capital.
(1 usd = 7.8 hkd)
leonora.walet@xfn.com xfnlwm/xfnsp
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