First Sponsor buying 36,405 sq m of Guangdong land for 738m yuan
HONG Leong-linked property developer First Sponsor plans to buy Concord Focus Development, which owns three land parcels in China's Guangdong province totalling 36,405 square metres, for 738 million yuan (S$148.9 million). First Sponsor said that the property has land use rights with expiry dates of Jan 31, 2088 for residential use and Jan 31, 2058 for commercial use.
Concord Focus Development's shareholders are Chung Kwok Keung, Poon Sau Tin and Poon Sum. First Sponsor closed unchanged on Friday at S$1.28. The announcement was made on Monday morning before market open.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Google parent announces first-ever dividend; beats on sales, profit; shares soar
Baltimore’s trapped ships start leaving as new channel opens
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336