Hon Kwok Land Investment Co., Ltd. (HK:0160) has released an update.
Hon Kwok Land Investment Co., Ltd. has announced the sale of a Tokyo hotel for approximately JPY 1.87 billion (HK$93.6 million), expecting to recognize an unaudited gain of about JPY 155 million (HK$7.8 million). This transaction for the hotel, acquired just the previous year, is deemed a discloseable transaction for Hon Kwok but does not require shareholder approval. The property was sold to a Japanese real estate investment company owned by professional investor Mr. Hamasaki Takashi.
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