Brief: Colour Life Services Says Unit In Investment Agreement With Phy My Hung Development Corp

Colour Life Services

19/11/2018 09:42

Nov 19 (Reuters) - Colour Life Services Group Co Ltd
 1778.HK :
    * COLOUR LIFE SERVICES GROUP - UNIT NOVEL ERA HOLDINGS
LIMITED
ENTERED INTO AN INVESTMENT AGREEMENT WITH PHY MY HUNG
DEVELOPMENT CORPORATION
    * COLOUR LIFE SERVICES GROUP - UNIT & PHY MY HUNG
DEVELOPMENT CORP
TO MAKE CASH CAPITAL CONTRIBUTIONS OF VND8 BILLION & VND16
BILLION
    * NOVEL ERA'S CONTRIBUTION TO JOINT VENTURE WILL BE
SATISFIED BY
GROUP'S INTERNAL FINANCIAL RESOURCES.
    * PARTNER WILL INJECT SOME PROPERTY MANAGEMENT PROJECTS INTO
JOINT
VENTURE
    * JV TO ENGAGE IN DEVELOPMENT OF A CLOUD PLATFORM FOR
CARRYING OUT
OF ONLINE TO OFFLINE BUSINESS IN VIETNAM
    * UPON ESTABLISHMENT OF JV , NOVEL ERA & PHY MY HUNG
DEVELOPMENT
WILL OWN 33.33% AND 66.67% STAKE IN JV

Source text for Eikon:  ID:nHKSW4r0X 
Further company coverage:  1778.HK 

 ((Reuters.Briefs@thomsonreuters.com;))