Property Investment

On 28 November 2016, a wholly-owned subsidiary of the Company entered into a sale and purchase agreement with a connected party to acquire a property in Hong Kong. The property is located at No. 2, Lincoln Road, Kowloon, Hong Kong. The Property is a house with a gross floor area of approximately 6,702 sq. ft. and a saleable area of approximately 6,659 sq. ft. The Property comprises a 3-storey garden house with a swimming pool on the ground floor with an internal staircase and a lift. The Property is currently used for domestic purpose. On 7 March 2017, certain terms and conditions in the sale and purchase agreement has been amended by the parties. Completion of this acquisition took place on 9 May 2017.

On 7 September 2017, a wholly-owned subsidiary of the Company entered into a sale and purchase agreement with a third party to acquire a property in Hong Kong. The property is located at No. 1, Lincoln Road, Kowloon, Hong Kong. The Property is a house with a saleable area of approximately 6,892 sq. ft. with a balcony of approximately 38 sq. ft. The Property comprises a 3-storey terrace house plus roof erected on a parcel of land with a registered site area of approximately 10,656 sq. ft. completed in 2008 and renovated in 2014. The Property is currently used for domestic purpose and is not subject to any tenancy. Completion of this acquisition took place on 13 September 2017.

The Group will continue to explore appropriate property investment opportunities for long term invest.

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