| To : Business Editor | For immediate release |
HONGKONG LAND FOUNDING SHAREHOLDER IN CHINA WATER COMPANY
9th May 1996 -- Hongkong Land Holdings Limited today announced that its subsidiary, Hongkong Land China Holdings Limited, has joined with AIDC Ltd and Temasek Holdings to form The China Water Company Limited ("CWC"). Each of the three shareholders will invest US$10 million and have a one-third interest in CWC, which is being created to finance and develop water and waste water treatment infrastructure projects in China.
Of the initial equity, US$25 million will be invested in a 20-year cooperative joint venture with a local partner in Shenyang City, the capital of Liaoning Province which will fund and develop water supply facilities of 150,000 cubic meters per day.
Further projects are under reveiw and will be pursued in due course.
Hongkong Land's partners are AIDC Ltd, an investment house owned by the Australian Government and Temasek Holdings (Private) Limited, an investment holding company wholly owned by the Singapore Government.
Announcing the new venture, Hongkong Land's Managing Director, Mr Percy Weatherall said, "We believe that The China Water Company will contribute to finding innovative solutions to China's water supply and pollution problems."
He added, "Hongkong Land has been seeking suitable infrastructure projects in the Region for some time and The China Water Company provides an attractive investment opportunity with excellent partners from Australia, Singapore and China."
Hongkong Land Holdings Limited has two principal operating subsidiaries: Hongkong Land China, which owns and manages some 5 million sq. ft of prime office and retail space in the heart of Hong Kong's Core Central business district; and Hongkong Land International, through which the Group holds investments that include property developments in Vietnam and the Philippines with exploratory operations in Thailand. Hongkong Land has net assets in excess of US$7,000 million.
For further information, please contact:
| Hongkong Land Limited Duncan Straughen |
(852) 2842-8352 (office) |
| Ludgate Asia Limited Martin Spurrier |
(852) 2543-5413 (office) |
| © Copyright 1996-2008 irasia.com Ltd. All rights reserved. Tel: (852) 2831-9792. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |