Hkicim Hits 4: week high, sees $87 mln gain from sale of HK site

Tysan Holdings

13/03/2018 01:54

** Shares of Hong Kong International Construction Investment
Management Group Co Ltd  0687.HK  (HKICIM), a unit of
aviation-to-financial services conglomerate HNA Group
 HNAIRC.UL , rise as much as 11.3 pct to HK$2.46, their highest
since Feb. 13
   ** The property firm says it expects to record HK$684 million
($87.25 million) gain from sale of a residential site in Hong
Kong's old Kai Tak Airport's runway to Wheelock  0020.HK  for
HK$6.36 billion  urn:newsml:reuters.com:*:nL8N1QU4F4  urn:newsml:reuters.com:*:nL4N1QR1JF
    ** HKICIM says the deal will improve its cash position, and
it will use the net proceeds for business development and for
investments in its core businesses
    ** As of 0144 GMT, about 3.61 million shares of the property
company have been traded, compared with their 30-day moving
average of 1.12 million shares a day
    ** Hong Kong benchmark index  .HSI  edges up 0.1 pct


($1 = 7.8397 Hong Kong dollars)

 (RM: donny.kwok.thomsonreuters.com@reuters.net)