cheng3333 WC disposed of the 12 mils shares by direct business transaction.
May be WC wishes to give a big ang pow to the just married couple, RM 30 millions big big ang pow, so WC disposed 12 millions parkson shares. Orang tua baru ada muka mah!
We attach herewith the announcement made to The Stock Exchange of Hong Kong Limited (“The HKEx”) on 3 April 2019 by Parkson Retail Group Limited (“PRGL”), a 54.97% owned subsidiary of the Company listed on The HKEx, in relation to the discloseable transaction on the entering into 7 new lease agreements as lessee in respect of the properties in Beijing, the People’s Republic of China (“PRC”).
PRGL had announced that on 26 February 2019, Parkson Retail Development Co., Ltd. (“Tenant”), an indirect wholly-owned subsidiary of PRGL, and China National Arts and Crafts Group Company Limited (“Landlord”) entered into 7 new lease agreements in respect of the leasing by the Tenant from the Landlord of the properties in Beijing, the PRC (“New Lease Agreements”). Prior to entering into the New Lease Agreements, the Tenant had been occupying the Properties as tenant for its retail business since 1 October 1993 pursuant to the previous 7 separate lease agreements entered into between the Landlord and the Tenant which were in existence immediately prior to the New Lease Agreements.
Pursuant to the International Financial Reporting Standard 16 (IFRS 16) issued by the International Accounting Standards Board, the entering into the New Lease Agreements as lessee will require the PRGL Group to recognise the premises as the right-of-use assets in which the aggregated amount was approximately Rmb393.9 million calculated with reference to the aggregated present value of the fixed lease payments as discounted using a discount rate which is equivalent to PRGL’s incremental borrowing rate during the entire terms of the New Lease Agreements, thus the entering into the New Lease Agreements and the transactions contemplated thereunder will be regarded as an acquisition of assets by the PRGL Group (“Acquisition of Assets”).
The entering into the New Lease Agreements constitutes a discloseable transaction for PRGL, and is subject to the reporting and announcement requirements but are exempt from the circular and shareholders’ approval requirements under Chapter 14 of the Rules Governing the Listing of Securities on the HKEx.
The Acquisition of Assets does not have a material impact on the earnings of the Group for the financial year ending 30 June 2019 and the net assets of the Group based on the audited consolidated statement of financial position of the Company as at 30 June 2018.
“At the request of the landlord, the tenant negotiated the renewal of the previous agreements with the landlord and agreed that each of new lease agreement of approximately 10-year term and to expire on Nov 30, 2028,” it said.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
fraddieshare
106 posts
Posted by fraddieshare > 2019-03-15 12:45 | Report Abuse
coming report will good