EAST CHAMPION LIMITED 億綽有限公司
Pass the parcel: Willie (0273) buys basement of China United Centre from HEC Capital for HK$170m
Company announcement, 20-Apr-2015
Avoiding 8.5% double stamp duty, Willie is buying the BVI company which indirectly owns the property. It was previously owned by Dragonite (0329) until 21-Jan-2014, by Heritage (0412) until 4-May-2011 and by Z & Z International Ltd until 25-Apr-2008. Even earlier, it was owned by China United Holdings Ltd, the former incarnation of Willie, which bought the property in 1997 for HK$470m. So it has now come full circle. All are in the "Chung Nam Network"
Company announcement, 20-Apr-2015
Avoiding 8.5% double stamp duty, Willie is buying the BVI company which indirectly owns the property. It was previously owned by Dragonite (0329) until 21-Jan-2014, by Heritage (0412) until 4-May-2011 and by Z & Z International Ltd until 25-Apr-2008. Even earlier, it was owned by China United Holdings Ltd, the former incarnation of Willie, which bought the property in 1997 for HK$470m. So it has now come full circle. All are in the "Chung Nam Network"
Dragonite (0329) sells basement of China United Centre for HK$140m
Company announcement, 21-Jan-2014
Actually they are selling the BVI co which indirectly owns it, thereby avoiding 8.5% Double Stamp Duty (if passed). The owner of the buyer is not disclosed, but later filings show that at 18-Sep-2012 it was a 100% subsidiary of HEC Capital Ltd. Both Dragonite and HEC Capital are in what we call the "Chung Nam Network".
Company announcement, 21-Jan-2014
Actually they are selling the BVI co which indirectly owns it, thereby avoiding 8.5% Double Stamp Duty (if passed). The owner of the buyer is not disclosed, but later filings show that at 18-Sep-2012 it was a 100% subsidiary of HEC Capital Ltd. Both Dragonite and HEC Capital are in what we call the "Chung Nam Network".
Dragonite (0329) buys basement of China United Centre from Heritage (0412), does placing
| Heritage announcement
Company announcement, 6-May-2011
The Dragonite placing is via Chung nam Securities Ltd. Both listed companies are in what we call the "Chung Nam Network".
Company announcement, 6-May-2011
The Dragonite placing is via Chung nam Securities Ltd. Both listed companies are in what we call the "Chung Nam Network".
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