Corporate digest

Hong Lai Huat

MAINBOARD-LISTED Hong Lai Huat Group said its property and real estate division sales is expected to be affected by a lockdown order in Cambodia.

In an exchange filing on Thursday, it informed shareholders that the Cambodian government has issued a lockdown order on the nation's capital city Phnom Penh, as well as on Kandal province for 14 days, starting Thursday, to curb the spread of Covid-19.

The group said its Cambodia offices will be required to shut for the next 14 days, and all employees have been instructed to work from home.

"The group's property and real estate division sales is expected to be affected by this lockdown order; however, the agriculture division continues to operate as per normal with all safe guidelines in place," Hong Lai Huat said.

Its shares fell 1.1 per cent or 0.1 Singapore cent to close at 9.3 cents on Thursday before the announcement.

GuocoLand

GuocoLand's wholly-owned subsidiary, GuocoLand (China) has entered into an agreement to dispose of its 100-per-cent interest in Beijing Jiang Sheng Property Development (BJJS) for 3 million yuan (S$0.6 million).

In an exchange filing on Thursday, GuocoLand said GuocoLand (China) had entered into the equity transfer agreement with Beijing Wennuan Shiguang Technology Development.

BJJS, whose principal activity was property development, had completed and sold all the units in its residential project in Beijing, and has been inactive.

GuocoLand said the transaction is not expected to have any material impact on its consolidated net tangible assets and earnings per share for the financial year ending June.

GuocoLand shares closed unchanged at S$1.71 on Thursday, before the announcement.