[ET Net News Agency, 22 July 2019] China Merchants Land Limited (00978) said its
subsidiary Guangzhou Merchants has entered into a cooperation agreement with Guangdong
Poly, Jinmao Guangdong, China Railway (South China) and a project company for the
development of a land through the project company.
Guangzhou Merchants, Guangdong Poly, Jinmao Guangdong and China Railway (South China)
shall bear the land price of RMB4.12 billion and the initial contribution of RMB40 million
in proportion to their respective shareholdings in the project company of 25%, 25%, 25%
and 25%. Upon completion of the cooperation agreement, the registered capital of the
project company shall be increased to RMB40 million.
The land is in Baiyun District, Guangzhou City, Guangdong Province, the PRC. The total
site area is approximately 169,697 sq.m. (RC)