Yangzijiang Shipbuilding (Holdings) Ltd. wishes to announce that the Company has through its wholly-owned subsidiary, Yangzijiang Shipping Pte Ltd entered into an agreement with Döhle (IOM) Ltd and Nakona Enterprises Limited to acquire the remaining 55% of the equity interest in the share capital of four single ship-owning companies, namely, MV TW Hamburg Shipping Company Ltd, MV TW Manila Shipping Company Ltd, MV TW Beijing Shipping Company Ltd, and MV TW Jiangsu Shipping Company Ltd (“SPVs”). Each ship-owning company is the owner of one unit of 92,500 DWT post-panamax bulk carriers. Under the Agreement, the consideration to acquire the remaining 55% equity of four SPVs is USD1,250,000 each.
CapitaLand Limited, through its wholly-owned subsidiary CapitaLand China, has secured a prime 57,369 square metre residential site in Sunjia, Jiangbei District, Ningbo for RMB1,117,984,125 (approximately S$232 million) in a government land tender. This translates to about RMB8,858 (approximately S$1,840) per sqm per plot ratio. CapitaLand plans to build an estimated 1,100 units of small and medium-sized units on the site to cater to first-time homebuyers and upgraders. Construction is expected to begin in 3Q 2014 with the first phase targeted for launch in 2015.
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