Gelonghui, April 15, 丨 Xing Sheng Chuang (00896.HK) announced that on April 15, 2024, the seller (an indirect wholly-owned subsidiary of the company) signed an interim agreement with the buyer. According to this, under the terms of the provisional agreement, the seller agreed to sell and the buyer agreed to buy the property at a cost of HK$149 million.
The property includes Shops 1, 2, 3 and 5 on the entire ground floor of The Austin Place (i), 38 Kwun Chung Street, Kowloon, Hong Kong; and (ii) Shop 5 on the first floor. The property is a commercial property with a total saleable area of approximately 7,856 square feet and is held as an investment property of the Group.
From time to time, directors conduct strategic reviews of the Group's assets to maximize shareholder returns. The director believes that the sale is an opportunity for the company to release the value of the property in the current market environment.