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Ho Bee Investment Ltd Announces Establishment Of Wholly Owned Subsidiary To Acquire Residential Site In Doncaster, Australia


Friday, 5 Jul 2013 05:07am EDT 

Ho Bee Investment Ltd announced the incorporation of the following wholly-owned subsidiary HB Doncaster Pty Ltd in Victoria, Australia, with registered capital of AUD12 million comprising 12 million ordinary shares. Its principal activities are property development. HB Doncaster was set up as a special purpose company for the acquisition of a residential site located at 1 Grosvenor Street, Doncaster, Victoria 3108 (the Property). The purchase consideration for the Property is AUD8.5 million. A 10% deposit has been paid and the balance will be payable on completion which is scheduled on or about September 02, 2013, subject to receipt of Foreign Investment Review Board approval to the purchase. The land and development costs of this project will be financed by internal funds and bank borrowings. 

Company Quote

2.19
0.01 +0.46%
20 Aug 2014