Common Contracts

PROPOSED FORMATION OF JOINT VENTURE IN RELATION TO ACQUISITION OF LAND

October 27th, 2020

• Filed
  October 27th, 2020

Reference is made to the announcement of the Company dated 25 August 2020 in relation to a custodian agreement entered into between amongst others, Guangzhou Yufa Furniture Co., Ltd.* (廣州裕發家具有限公司), an indirect wholly-owned subsidiary of the Company, and an independent third party property developer, pursuant to which the parties’ had formed an initial intention of establishing a joint venture for the specific purpose of participating in the bidding of the Target Land Parcel by way of public auction.