HK's Colour Life hits record low on core asset sale

Colour Life Services

27/10/2021 03:55

** Shares of property management services group Colour Life
Services Group Co Ltd  1778.HK  plunge 40.7% to an all-time low
of HK$1.50, the biggest daily percentage decline since listing
in June 2014
    ** Stock is second-biggest percentage decliner on the Hong
Kong bourse 
    ** Co says it will sell its property management services
unit Link Joy Holdings to Country Garden Services Holdings
 6098.HK  as Country Garden enforced its right under a loan
agreement  urn:newsml:reuters.com:*:nFWN2RM1PZ
    ** Says its parent Fantasia Holdings  1777.HK  did not repay
external debts when due, while Colour Life failed to repay a 700
mln yuan loan on Oct 4 
    ** Says Country Garden Services enforced its right under
loan agreement requesting Colour Life to unconditionally
transfer Link Joy to it  
    ** Stock of Country Garden Services eases 0.9% 
    ** Hang Seng Mainland Properties Index  .HSMPI  gains 0.1%,
while the Hang Seng Composite Index, tracking properties and
construction stocks  .HSCIPC , slips 0.3%
    ** The Hang Seng China Enterprises Index  .HSCE  falls 1.9%
and the benchmark index  .HSI  drops 1.7%

     ($1 = 0.1566 Chinese yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))