Brief: Shihua Development updates on acquisition of land use rights

China Sinostar

13/12/2015 23:10

Dec 14 (Reuters) - Shihua Development Co Ltd  0485.HK : 
 * Inside information acquisition of land use rights  0485.HK  
 * Says currently intends to develop the land for commercial use 
 * Wholly-owned subsidiary of the company, entered into a land use rights grant contract with the land and resources bureau 
 * Acquisition of the land use rights of land and development of land is and will be financed by the group's internal resources 
 * Pursuant to the terms , benxi zunhe acquired land use rights at a consideration of RMB9.4 million 
 * Says the term of the grant is 40 years from the date of delivery of the land by the benxi land bureau 
 * Says land is for accommodation, food and beverage uses 
 
* Source text for Eikon  ID:nHKS2svWNB  
 
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