Suncity Listco confirms US$24 mln in mainland corporate disposition

Suncity Group Holdings Ltd. will receive a net profit of approximately HK$184.4 million ($23.7 million) for the disposal of Access Achievement Ltd., a mainland Chinese real estate development and leasing company with a stake in Guangdong Province.

In a filing to the Hong Kong Stock Exchange on Wednesday, the group said the completion of the transaction marked in February had been achieved that day.

It also added that HK$166.3 million of this consideration would be used to repay the group’s banks and other borrowings. The remaining approximately HK$18.2 million would be used as the group’s general working capital.

Suncity Group Holdings is a company linked to Alvin Chau Check Wa, which leads privately owned Macau casino junket brand Suncity Group.

Suncity Group Holdings invests in Hoiana, a casino resort in Vietnam, and its Philippine division is involved in casino hotel development in the Westside City initiative in Manila, Philippines.

The company is also investing in Hong Kong-listed Summit Ascent Holdings Inc., the promoter of Tigred Crystal Casino Resort in Vladivostok, Russia.

BY: 릴게임사이트

Leave a Reply

Your email address will not be published. Required fields are marked *