Brief: Feiyang International Says Entered Non-Legally Binding Memorandum Of Understanding

Feiyang International Holdings

05/08/2022 13:52

Aug 5 (Reuters) - Feiyang International  1901.HK :
    * ENTERED INTO NON-LEGALLY BINDING MEMORANDUM OF
UNDERSTANDING
WITH TINIAN REAL ESTATE DEVELOPMENT, LLC
    * MOU IN RELATION TO PROPOSED FORMATION OF A JOINT VENTURE
COMPANY
    * JV CO FOR PURPOSE OF ENGAGING IN DEVELOPMENT AND OPERATION
OF
TOURISM REAL ESTATE, HOTELS AMONG OTHERS
    * JV CO TO BE OWNED AS TO 51% BY COMPANY AND AS TO 49% BY
TINIAN
REAL ESTATE DEVELOPMENT
    * TOTAL CAPITAL CONTRIBUTION TO BE MADE BY PARTIES SHALL NOT
EXCEED USD15 MILLION IN MOU

Further company coverage:  1901.HK 

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