SUBSCRIBERS

China Int'l to sell loss-making Tianjin unit for 460m yuan

Published Tue, Oct 4, 2016 · 09:50 PM

Singapore

INVESTMENT holding company China International Holdings (CIH) has inked a deal to sell a loss-making property-development unit for 460 million yuan (S$94.4 million) in cash, it said in a Singapore Exchange (SGX) filing on Tuesday.

The unit, Tianjin Xinzhong Property Development Co, holds the rights and benefits for the group's Tianjin Jixian project, which comprises the land use rights for some land in the North Shore of Cui Ping Lake Tourist District, east of Jixian, or Ji county, in Tianjin, the group said. Tianjin is a city in northern China.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes