Far East Consortium International Limited has announced the termination of the Heads of Agreement with The Star regarding a real estate project. The decision follows negotiations between the company and The Star, alongside their respective advisers. As part of the termination terms, The Star is obliged to repay A$10 million (approximately HK$51.3 million) within 30 days. If the repayment is not made within the stipulated period, The Star will need to transfer its 33.3% interest in Tower 1 (Dorsett) to the Joint Venture Partners. Consequently, the Joint Venture Partners will no longer be required to make a third tranche payment of A$8 million (approximately HK$41.0 million) to The Star. This development is part of Far East Consortium's compliance with the relevant listing rules. Flagstaff Partners serves as the Australian financial adviser for the Joint Venture Partners in this matter.
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