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Asia

KWG Group to Exit Fujing Real Estate Investment in 160 Million Yuan Deal

KWG Group (HKG:1813) will sell its 33.34% indirect interest in Guangzhou Fujing Real Estate Development to a unit of Sun Hung Kai Properties (HKG:0016), according to a Wednesday filing with the Hong Kong bourse.Guangzhou Fujing Real Estate holds and operates the large-scale International Grand City mall in Guangzhou.Fujing Real Estate posted after-tax losses of 1.13 billion yuan and 1.53 billion yuan in 2024 and 2025, respectively.KWG Group said it was exiting the investment for 160 million yuan due to Fujing Real Estate's current financial conditions and outstanding tax issues.The firm expects to record a gain of 146.5 million yuan on the sale and overall proceeds will be used for general corporate purposes and its own debt restructuring.KWG's shares fell nearly 7%, while Sun Hung Kai slipped almost 2% in recent trade.

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Asia

Market Chatter: MTR Draws Eight Bids for Kam Sheung Road Phase 2 Project

MTR (HKG:0066) received eight bids for its Kam Sheung Road Station Phase 2 project on Monday after attracting 31 expressions of interest, The Standard reported Monday.The site is valued at HK$3.62 billion to HK$7.24 billion, or HK$3,000 to HK$6,000 per square foot, and is expected to provide about 1,290 flats across 1.21 million square feet, according to the report.Bidders included CK Asset (HKG:1113), Henderson Land (HKG:0012), Sun Hung Kai Properties (HKG:0016), K. Wah International (HKG:0173), and Wheelock Properties, among others, the report said.MTR also plans to launch the tender for Tuen Mun A16 Station Package 2 after conducting market consultation this month, the report added.(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.)

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