CCEED definition
Examples of CCEED in a sentence
Guangdong Yuehai Land selected China Construction Shenzhen and CCEED Decoration as the contractors for the Office Tower Fitting-out Work and the Commercial Shopping Buildings Fitting-out Work respectively through open tender.
In accordance with the provisions of the Commercial Shopping Buildings Fitting-out Work Agreement, in the event that the fluctuation (not caused by CCEED Decoration) of Labour Fees (based on the price published in the “Shenzhen Construction Works Price Information” (《深圳建設工程價格信息》)) exceeds ± 5%, the Commercial Shopping Buildings Fitting-out Work Consideration shall be adjusted accordingly, the amount of which shall be determined in accordance with the fluctuation of such price and the applicable tax rate.
On 8 April 2021, CCEED Decoration was appointed as the contractor for the commercial shopping buildings fitting-out work of the Southern Land (the “Commercial Shopping Buildings Fitting-out Work”).
The Company is aware that CCEED Decoration is principally engaged in architectural fitting-out and decoration works, architectural fitting-out and decoration design, curtain wall construction works, curtain wall design, metal door and window works, intelligent construction works, intelligent construction design and other related businesses.
The total consideration payable to CCEED Decoration for the Commercial Shopping Buildings Fitting-out Work shall be RMB44,174,127.79 (equivalent to approximately HK$53,557,000) (the “Commercial Shopping Buildings Fitting-out Work Consideration”).
Besides, the Company understands that China Construction Shenzhen and CCEED Decoration have extensive experience in the office tower fitting-out work and commercial shopping buildings fitting-out work businesses in the PRC respectively.
Furthermore, on 8 April 2021, Guangdong Yuehai Land (a wholly-owned subsidiary of the Company) entered into the Commercial Shopping Buildings Fitting-out Work Agreement with CCEED Decoration in relation to the Commercial Shopping Buildings Fitting-out Work of the Southern Land at the consideration of RMB44,174,127.79 (equivalent to approximately HK$53,557,000), subject to adjustments (if any) as set out below.
CCEED Decoration is wholly-owned by China State Construction (through its wholly-owned subsidiary, China Construction Eighth Engineering Division).
The Directors believe that such arrangement will benefit the Group by leveraging the substantial experience of CCEED.
Accordingly, CCEED is a connected person of the Company and the Transaction constitutes a connected transaction for the Company under Chapter 14A of the Listing Rules.