Cedar Strategic gets 36m yuan revenue boost

CATALIST-LISTED Cedar Strategic Holdings (CSH) said yesterday that its newly acquired subsidiary, Guiyang Shunhe Real Estate Development, had received in November around 36 million yuan (S$7.4 million) from the sale of 7,416 square metres of commercial units in its development project, Xiao Cheng Gu Shi, in China's Guizhou province.

Xiao Cheng Gu Shi is a residential and commercial site in Guiyang City which will cover some 270,000 sq m when completed.

"This 36 million yuan in sales will contribute positively to the group's consolidated revenues for the quarter ended December 31, 2013," said Charlie In, CSH's executive chairman.