agate286

Ho Bee Investment has via its joint venture company, Yanlord Ho Bee Investments (“YHBI”), set up a wholly-owned company in Tangshan. Details of the new entity are set out below:-

Name of new entity: Yanlord Ho Bee Property Development (Tangshan) Co Ltd
Registered capital : US$90,000,000
Principal activity : Property development and management#
Shareholder : YHBI (100% shareholding interest).

CapitaLand’s wholly-owned subsidiary, CapitaLand (Sichuan) Holdings, has entered into a sale & purchase agreement to sell  its entire 50% stake in Sichuan Zhixin CapitaLand (“SZC”) to Chengdu Zhixin Industrial Group (“CZI").

SZC, a property development company incorporated in China, is a joint venture between CapitaLand and CZI, which currently holds the balance 50% stake in SZC.

The sale is part of CapitaLand Group’s ongoing strategy of capital productivity. The consideration, which will be paid wholly in cash, for the sale is RMB570 million (approximately S$117 million). Completion of the sale is expected to take place in the third quarter of 2010. CapitaLand will recognise a net gain of about S$33 million from the deal.

BreadTalk Group has announced that Star Food, a 60% owned subsidiary of the company, has injected further capital of US$550,000 into Shanghai Star Food F&B Management (“Shanghai Star Food”), a wholly owned subsidiary. Upon this capital injection, the total registered capital of Shanghai Star Food of US$3,200,000 has now been fully paid.

Star Food, an investment holding company, together with its wholly owned subsidiaries, Shanghai Star Food and Beijing Star Food F&B Management, are engaged in the management of the Carl’s Junior restaurant business in China.