Gao Yin abandoned Kai Tak 111 billion land 2 25 million deposit
The Hong Kong Government proposes to amend the fugitive offenders regulations to trigger a public parade. Political and economic turmoil has just occurred. Gao Yin Finance (530), which just won the Kai Tak commercial land with more than $11.2 billion last month, suddenly decided to fade yesterday. Under the opposition of Chairman Pan Sutong, In the end, the board of directors still gave up the land by a large ratio of six to two, and eroded a deposit of 25 million yuan. It is the members of the real estate sector of the Legislative Council who proposed to convene a board meeting and Shi Liqian, an independent non-executive director of Gao Yin. Shi Liqian said yesterday that although he had a positive view on the fugitive offenders regulations, he believed that there were differences in the society, which would cause mid-term social problems, so it is not suitable for investment.
Regarding the abandonment of the Kai Tak project, Pan Sutong felt helpless and reiterated that it was a business decision of the board of directors. He himself opposed the board of directors. He reiterated that he is optimistic about the real estate market in Hong Kong. He will not suspend investment in Hong Kong and will reconsider The land is again tendered in the name of the individual. “The land price will rise every time the land is raised, and the real estate market will be affected. It has confidence in the real estate market in Hong Kong. It is different from the law enforcement of the Legislative Council," Mr Siu Siu-tong said in a telephone conference. Since the Kai Tak land was cast last month, the balance was paid yesterday. Therefore, a meeting was held on Monday to discuss whether it should invest another 18 billion yuan in the land and agree with the six directors. Decide. He said: “Money is not a problem. 25 million yuan is a decimal. It is necessary to pay attention to the future market. It is due to the rapid changes in the market environment. It is considered to be advancing with the times. First, this decision will be made." He also believes that the investment is 18 billion. The yuan may not be good, and I think there are more good places in the future. Xu Huimin, executive director of Gaoyin, said that the loss of 25 million yuan has limited impact on the group.
On Monday, Gao Yin held an emergency board meeting at the request of independent non-executive director Shi Liqian to discuss the land project No. 4 of Kai Tak District 4C, which was invested by the subsidiary Jun Teng Investment last month, and considered the suspension of financial assistance to Jun Teng. Pay off the land price. The management of the group proved to the board of directors that it has sufficient financial resources to pay the land balance.
Although Pan Sutong believes that recent social conflicts and economic instability will not affect the long-term development of the commercial real estate market in Hong Kong and vote against the motion, independent non-executive director Gao Min also voted against it, but most of the voting directors voted. In favor, it is therefore suspended to provide Jun Teng with financial support for the land price. On the 15th of last month, Gao Yin overwhelmed the Kai Tak land by more than 11.124 billion yuan, which was used by the five consortiums of Cheung Kong, SHKP, Huide Real Estate, Xinhe and Yingjun.