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2006-10-5 02:58:00 p.m. HKT, XFNA
HK-listed Hanison Construction, Chevalier to sell some land for 91.41 mln hkd
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HONG KONG (XFN-ASIA) - Hanison Construction Holdings Ltd said it and
Chevalier (Development) Co Ltd have agreed to sell two plots of land in
Dongguan city, China, to Max Pine Ltd for 91.41 mln hkd.
Hanison and Chevalier each own 50 pct stakes in both the sites.
The company said it expects to record a disposal gain of 30 mln hkd,
which will be used as additional general working capital.
It said the transaction generates attractive return for the group and
will enable the group secure immediate cash inflow.
At 2.50 pm, Hanison was up 0.01 hkd or 1.75 pct at 0.58.
(1 usd = 7.8 hkd)
roby.lau@xfn.com
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