Chuang's China Investments Limited

  • ISIN: BMG2122W1010
  • Land: Hong Kong

Nachricht vom 07.12.2017 | 10:40

Chuang's China Investments Limited


EQS-News / 07/12/2017 / 17:40 UTC+8

[For Immediate Release]

Chuang's China Acquires Central Plaza, a Commercial Property in KL at HK$336 Million
Eyeing Property Markets along the Belt & Road


(Hong Kong, 7 December 2017) - Chuang's China Investments Limited ("Chuang's China" or "the Group") (HKSE: 0298) announced that the Group acquired Central Plaza, a commercial property in Kuala Lumper, Malaysia, at an aggregate consideration of MYR175.0 million (equivalent to approximately HK$336.0 million) by entering into the sale and purchase agreement with Chuang's Consortium International Limited (HKSE: 0367).

Located at the heart of central business district and prestigious shopping area of Kuala Lumper, Central Plaza is adjacent to Pavilion KL, which is also the landmark shopping complex in Jalan Sultan Ismail. The 29-storey commercial building has a total gross floor area of 382,000 square feet, offering a total 195,000 square feet of retail and office area, as well as 298 car parking spaces with total area of 128,000 square feet. As at 30 November 2017, the occupancy rate of Central Plaza was approximately 71%.

According to the valuation as appraised by an independent valuer, Central Plaza was valued at MYR175.0 million (equivalent to approximately HK$336.0 million) as at 30 November 2017. On an estimated monthly rent of about MYR875,000 (equivalent to approximately HK$1.7 million), the gross rental yield of Central Plaza is approximately 6%.

Miss Ann Li Mee Sum, Deputy Chairman of Chuang's China, stated "Central Plaza is another major overseas investment project after the Group's acquisition of London office last year. In addition to the expansion in geographic coverage, this acquisition also makes good use of the Group's cash on hand to expand our property portfolio and thus enhance our recurring rental income. Under the 'Belt and Road' initiative and its development strategy, the Sino-Malay relations in economy and trading are heightening in recent years. More and more Chinese enterprises invest in Malaysia and set up their offices in the area that promote vigorous growth in infrastructure as well as economic and tourist development. Benefiting from the booming local economic activities, coupled with Central Plaza's prime location and comprehensive commercial facilities, the Group is confident about the growth prospects and returns of this project."

-End-

About Chuang's China Investments Limited (HKSE:298)
Chuang's China Investments Limited is principally engaged in property development and investments as well as securities investments and trading. The Group has recently strengthened its investment portfolio through the acquisition of a commercial building in London and the acquisition of a 518-acre cemetery in Sihui, Guangdong Province. Chuang's China will continue to explore other potential investment opportunities and expand its real estate and property-related businesses.

Issued by PR ASIA Consultants Limited on behalf of Chuang's China Investments Limited
For media enquiries, please contact PR ASIA Consultants Limited:
Lorraine Lam / Veronica Hui / Eunice Chan
Tel: (852) 3183 0230 / 0251 / 0261
Fax: (852) 2583 9138
Email: chuangschina@prasia.net



Document: http://n.eqs.com/c/fncls.ssp?u=BGABGMPSQV
Document title: [Press Release]Chuang's China (298) Acquires Central Plaza, a Commercial Property in KL at HK$336 Million

07/12/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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