Brief: GRP Ltd Announces Agreement Regarding Repossession Of Development Property Land
27/11/2018 11:01
Nov 27 (Reuters) - GRP Ltd GRPS.SI :
* ANNOUNCES AGREEMENT IN RELATION TO REPOSSESSION OF
DEVELOPMENT
PROPERTY LAND IN TANGSHAN CITY
* REPOSSESSION VALUE FOR LAND IS RMB63.846 MILLION
* GROUP HAS ALSO COMMENCED NEGOTIATION TO RECOVER RMB28.7
MILLION,
WHICH WAS DISBURSED AS A PORTION OF RMB85 MILLION ADVANCE TO
KAIPING GOVERNMENT
* ADVANCE WAS GIVEN IN CONSIDERATION FOR GROUP TO OBTAIN
FIRST
RIGHT OF REFUSAL TO PARTICIPATE IN PROJECT
Source text for Eikon: urn:newsml:reuters.com:*:nSNZ64r05K
Further company coverage: GRPS.SI
((Reuters.Briefs@thomsonreuters.com;))
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