Hin Sang Group (International) Holding Co. Ltd. has disclosed that it is actively marketing two Hong Kong properties for a combined indicative asking price of HK$183.00 million. The assets comprise:
• A property with car-park in Shatin at HK$138.00 million • A property in Tsim Sha Tsui at HK$45.00 million
Management views the potential disposals as a means to: 1) Realise cash and strengthen the Group’s liquidity position for future development; and 2) Eliminate finance costs by applying part of the proceeds to fully repay outstanding bank borrowings.
The Board emphasised that the properties are non-core to ongoing operations and expects no material impact on business activities. Should the transactions proceed, they may constitute a very substantial disposal under Hong Kong listing rules.
The process remains at the indicative offer stage; completion is uncertain. Shareholders and investors are advised to exercise caution when dealing in the Company’s securities, and further announcements will follow in accordance with regulatory requirements.