Brief: Goldin Financial Holdings updates on development agreement

Goldin Financial Holdings

12/01/2017 14:04

Jan 12 (Reuters) - Goldin Financial Holdings Ltd  0530.HK  
    * JV company and guarantors entered into development 
agreement with mtr corporation for development of land 
    * Goldin Financial Holdings Ltd - as per deal, JV company 
shall be required to design, build and complete development 
    * Goldin Financial - MTR corporation, JV co shall share 
surplus proceeds in agreed ratio of 35% by Mtr Corporation and 
65% by JV company, respectively 
    * Goldin Financial - concept pioneer shall provide initial 
shareholders' loan to JV co in amount of HK$660 million on 
completion of subscription of new JV shares 
    * Goldin Financial - total development costs for development 
(including assessed premium and lump sum payment) are estimated 
by company to be HK$13 billion 
 
Source text for Eikon:  ID:nHKS5CzrCP  
Further company coverage:  0530.HK  
 
 ((bangalore.newsroom@thomsonreuters.com;))