FINWIRES · TerminalLIVE
FINWIRES

Hin Sang Explores HK$183 Million Sale of Hong Kong Properties; Shares Up 11%

By

Hin Sang (International) (HKG:6893) is seeking buyers for two Hong Kong properties with indicative asking prices totaling HK$183 million, according to a Tuesday bourse filing.

Shares of the healthcare and household products company were up over 11% in Wednesday morning trade.

The assets include a property and car park in Sha Tin with an indicative asking price of HK$138 million, and a Tsim Sha Tsui property with an asking price of HK$45 million.

The company has signed a legally binding mandate agreement with a property agent to market the assets, but no sale and purchase agreement has been entered into.

Hin Sang said proceeds from the potential disposals may be used to support business development and to repay outstanding bank borrowings, thereby reducing finance costs.

Related Articles

Asia

Smartgroup Welcomes Australian Government Decision to Maintain Electric Car Discount for a Year, Shares Reach Two-Year Peak

Smartgroup (ASX:SIQ) welcomes a decision by the Australian government to maintain the electric car discount for another year, according to a Tuesday statement.It noted that the policy provides certainty for the charging industry, supporting further investment in Australia's charging infrastructure and helping build the network needed for broader electric vehicle adoption.Its shares jumped 7% in recent trading, reaching a two-year peak.

ASX:SIQ
Asia

Market Chatter: Qantas CEO Becoming 'More Optimistic' on Fuel Supply

Qantas Airways (ASX:QAN) Chief Executive Vanessa Hudson said the company is becoming "more optimistic" on fuel supply, Bloomberg News reported Tuesday.Speaking at the Macquarie Australia Conference, Hudson said the company has fuel commitments up to the middle of June, per the report.Hudson noted that the airline registered strong demand for domestic and international air travel despite high fuel prices.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:QAN
Asia

Sigma Healthcare Says Chemist Warehouse Brand to Enter UK Under Agreement With Pharmacy Group; Shares Rise 4%

Sigma Healthcare (ASX:SIG) said Tuesday signed a memorandum of understanding with Greenlight Healthcare, under which the Chemist Warehouse brand will enter the UK market.The company said in a statement that it will acquire a 75% interest in a number of stores of the employee-owned pharmacy group, with 25% continuing to be held by GreenLight.Sigma will license the Chemist Warehouse brand and intellectual property, and provide retail support, while GreenLight will provide the dispensary and professional services requirements as well as back office support.The first phase of the joint venture will focus on rebranding and developing up to five stores initially, with the first site to be in Hoxton Street, northeast of the city of London. If the first phase proves to be successful, more stores could be developed in the second phase. The parties plan to identify existing GreenLight pharmacies and where appropriate develop or relocate these into Chemist Warehouse stores.Sigma Healthcare's shares rose nearly 4% in recent trading on Tuesday.

ASX:SIG