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Suncity Group Holdings Ltd is to receive a cash payment of circa CNY155.3 million (nearly US$24.03 million) for disposal of a loss-making mainland China property development and leasing firm with interests in Guangdong province. A Sunday filing by Hong Kong-listed Suncity Group Holdings – a firm led by Alvin Chau Cheok Wa, who also leads privately-held Macau casino junket brand Suncity Group – said the deal agreed in principle that day, was for the entire issued share capital of Access Achievement Ltd, a British Virgin Islands firm wholly-owned by the listco. The disposal group recorded unaudited consolidated net liabilities of approximately CNY845.57 million as of December 31. ....
GGRAsia – Suncity listco US$24mln cash under China property disposal ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.