Brief: Capital Estate updates on land parcel in Macau

Capital Estate

08/08/2016 01:11

Aug 8 (Reuters) - Capital Estate Ltd  0193.HK : 
 * Company received a written notification from the land, public works and 
   transport bureau of Macau addressed to Sun Fat 
 * Disappointed with the notification and is seeking legal advice as to the 
   possible steps that can be taken under the circumstances 
 * "There may be impairment losses recorded which may affect the profit and loss 
   position of the group" 
 * Chief executive of Macau has instructed that land grant has become invalid 
 * Approval for early commencement of the residential development has not been 
   obtained as of August 8 by co's unit Sun Fat 
 * Notification or in eventuality that land is lost is not expected to cause 
   material negative impact to daily operations or trading position of group 
 * Source text for Eikon  ID:nHKS7VvxwG  
 
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