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Addchance Holdings Limited
Addchance Gains HK$67.31 Million in the Disposal of a Property in Kwai Chung
January 23rd, 2009
Addchance Holdings Limited (HKEx: 3344.HK) announced that it has entered into a Sale and Purchase Agreement on 30 December 2008 with an independent third party for the disposal of Sung's Tower for an aggregate consideration of HK$77.50 million, nearly 170 per cent of the property's assessed value of HK$45.84 million. As at 30 December 2008, the book value of Sung's Tower was approximately HK$10.19 million. The disposal of the said properties is expected to generate a gain of approximately HK$67.31 million for Addchance, and the proceeds will be used as general working capital. Located in Kwai Chung, Sung's Tower is currently occupied by Addchance for car parking,...
Source: Health Business Week (2009-01-23)
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