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Ho Bee Investment Ltd Announces Establishment Of Wholly Owned Subsidiaries And Acquisition Of Additional Site In Gold Coast, Australia

Friday, 4 Jan 2013 04:02am EST 

Ho Bee Investment Ltd announced the incorporation of the wholly-owned subsidiaries in Australia: HB Ferny Pty Ltd (HB Ferny) and HB Oracle Pty Ltd (HB Oracle) with registered capital of AUD1.00 comprising one ordinary share and its principal activities are property investment and development. HB Ferny was set up as a special purpose company for the acquisition of a residential site located at 180-184 Ferny Avenue, Surfers Paradise, Gold Coast (the Property). The Property with a freehold tenure has a land area of 11,356 sq ft with a maximum plot ratio of 6.5 and local area plan zoning for high-rise accommodation precinct. The acquisition of the Property was completed on December 31, 2012. The purchase consideration for the Property was AUD1.8 million and was financed by internal funds. HB Oracle will be used by HBI as part of its ongoing business development and investment in Australia. 

Company Quote

-0.03 -1.36%
22 Aug 2014