Brief: Hong Kong International Construction Investment Management Group To Sell Entire Stake In Unit

Tysan Holdings

01/02/2019 13:14

Feb 1 (Reuters) - Hong Kong International Construction
Investment Management Group Co Ltd  0687.HK :
    * ANNOUNCES  DISPOSAL OF ENTIRE EQUITY INTEREST IN A
SUBSIDIARY
    * UNIT TO SELL  TWINPEAK ASSETS LIMITED AND ITS  SHAREHOLDER
LOANS
FOR HK$3.91 BILLION
    * CURRENTLY EXPECTS TO RECORD A LOSS FROM TRANSACTION OF
HK$740
MILLION
    * EXPECTS PROVISION FOR IMPAIRMENT OF PROPERTIES TO  IMPACT
NET
PROFIT FOR FY
    * UNIT TO SELL  TWINPEAK ASSETS AND ITS SHAREHOLDER LOANS TO
FABULOUS NEW LTD
    * APPLICATION MADE TO STOCK EXCHANGE FOR RESUMPTION OF
TRADING IN
SHARES FROM FEBRUARY 4
    * SEES FY PROFIT ATTRIBUTABLE WILL BE LOWER DUE TO
IMPAIRMENT LOSS
OF HK$450 MILLION
    * TWINPEAK ASSETS, OWNS PROPERTY, NAMELY 6563 LAND PARCEL
AND
DEVELOPMENT, COLLECTIVELY

Source text for Eikon:  ID:nHKS1D95yN 
Further company coverage:  0687.HK 

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