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Updates on the 'Singapore Ritz' project that was reported in the company's interim results for the 6 months period ending 31 Dec 2007 :
The construction of the 22-storey commercial/residential building known as ?Singapore Ritz? in Zhongzhou City is at completion stage and will be launched into the market by the end of 2008. The pre-construction plan for another two pieces of land in Zhongzhou with a total land area of approximately 30,000 square meters has been mostly completed. The actual pre-construction work will commence once relevant Government certificates are obtained before the end of year 2008. Our Group will gradually acquire additional land reserves in other cities that are undergoing urbanization. We believe that the property development business will generate constant and significant revenue to our Group in the future years.
Hmm .... last bull run, went up to think 4 cents .... double current price.
with more landbank/project in hand, this counter looks promising. :-)
Hi, those keen on the placement news ... here it is:
http://main.ednews.hk/listedco/listconews/sehk/20080104/LTN20080104376.pdf
"Trading of shares of Benefun Intemational Holdings Limited will be suspended with effect from 9:00 a.m. on 4 January 2008, pending for a release of an announcement on placement of shares"
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_7C81D6FCB29A3342482573750000FBB9/$file/Benefune01130.pdf?openelement
Finally. The co.'s results for yr ended 2007. Both turnover and profit fell Y-O-Y. The SIngapore Ritz property development will only be completed by end 2007 and launch in mid-2008. Two other property developments on the way....
Main highlights :
"Sales turnover decreased to HK$153.7
million from HK$219.4 million, while gross profit dropped to HK$53.9 million from HK$70.9 million.
As a result of reduced margin but increasingly high rental and staff outlays on shops, the Group incurred
a net loss of HK$38.2 million for the reporting year."
"The construction of the 22-storey commercial/residential building known as ?Singapore Ritz? in
Zhangzhou City will be completed before the end of 2007, and launched into the market around mid-
2008. The pre-construction plan for another two pieces of land in Zhangzhou with a total land area of
approximately 30,000 square meters has been largely completed. The actual pre-construction work will
commence once relevant Government certificates are obtained in the next few months. We will prudently
acquire additional land reserves in other cities that are undergoing urbanization. The management
believes that these property development projects will generate constant and substantial revenue to the
Group in the years to come."
There are some adverts ... do a google search and you'll get it.
My chinese not so good ... think this shd be referring to S'pore Ritz
http://house.txweb.com.cn/?action=pop&id=295&infotype=1