ahlahdin
10-03-08, 23:43
Goodwood Residence, Singapore
GuocoLand Limited refers to the joint press release issued by the Company and Kuwait Finance House (Malaysia) Berhad on 18th December 2007, in relation to the sale of 97 units in Goodwood Residence to a fund company managed by KFHMB.
The Company wishes to inform that the 97 options were not exercised and consequently, have lapsed. Nonetheless, the parties are presently in discussions, with a view to a grant of fresh options for units in the development.
The expiry of the options will not have any material financial effect on the GLL Group’s net tangible assets per share or earnings per share, for the current financial year ending 30 June 2008.
The current private residential property market appears to be cautious in Singapore.
Goodwood Residence is a premier freehold development, with only 210 exclusive units on a large 24,845 square metre estate fronting the expansive Goodwood Hill.
The units at Goodwood Residence will be marketed selectively at a later date. (They were supposed to launch this project in Nov 2007, but held back because of poor market sentiments).
Dated this 10th day of March 2008
By Order of the Board
Dawn Pamela Lum
Group Company Secretary
Submitted by Dawn Pamela Lum, Group Company Secretary on 10/03/2008 to the SGX-ST
GuocoLand Limited refers to the joint press release issued by the Company and Kuwait Finance House (Malaysia) Berhad on 18th December 2007, in relation to the sale of 97 units in Goodwood Residence to a fund company managed by KFHMB.
The Company wishes to inform that the 97 options were not exercised and consequently, have lapsed. Nonetheless, the parties are presently in discussions, with a view to a grant of fresh options for units in the development.
The expiry of the options will not have any material financial effect on the GLL Group’s net tangible assets per share or earnings per share, for the current financial year ending 30 June 2008.
The current private residential property market appears to be cautious in Singapore.
Goodwood Residence is a premier freehold development, with only 210 exclusive units on a large 24,845 square metre estate fronting the expansive Goodwood Hill.
The units at Goodwood Residence will be marketed selectively at a later date. (They were supposed to launch this project in Nov 2007, but held back because of poor market sentiments).
Dated this 10th day of March 2008
By Order of the Board
Dawn Pamela Lum
Group Company Secretary
Submitted by Dawn Pamela Lum, Group Company Secretary on 10/03/2008 to the SGX-ST