Frasers Centrepoint to sell stake in building owner

Singapore

SINOMAX International Pte Ltd (Sinomax), an indirect wholly owned subsidiary of Frasers Centrepoint Limited, has conditionally agreed to sell its entire stake in Beijing Sin Hua Yan Real Estate Development Co Ltd (BJSHY) to Beijing Haina Junan Investment Co Ltd for about 357.4 million yuan (about S$76.6 million) in cash.

BJSHY owns a retail mall-cum-office building with a net lettable area of 156,336 square feet known as "Crosspoint" and is located along the Second Ring Road in Beijing.