Brief: Hon Kwok Land Investment Says Increase In Capital Contribution To JV Company

Hon Kwok Land Investment

09/08/2023 14:22

Aug 9 (Reuters) - Hon Kwok Land Investment Co Ltd
 0160.HK :
    * INCREASE IN CAPITAL CONTRIBUTION TO JV COMPANY FOR FURTHER
ACQUISITIONS OF PROPERTIES IN JAPAN
    * BANK FINANCING OF JPY834 MILLION HAS BEEN OBTAINED FOR
ACQUISITION
    * JV IN NEGOTIATIONS WITH POTENTIAL SELLERS OF CERTAIN HOTEL
PROPERTIES IN JAPAN BUT NO DEFINITIVE AGREEMENT HAS BEEN ENTERED
    * JV PARTIES AGREED TO PROVIDE ADDITIONAL FUNDING TO JV
COMPANY UP
TO AMOUNT OF JPY2,350 MILLION
    * IN CAPITAL INCREASE 60% OF WHICH SHALL BE CONTRIBUTED BY
GROUP,
AMOUNTING TO JPY1,410 MILLION


Further company coverage:  0160.HK 

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