CONTENTS
Corporate Information | 2 |
Management Discussion on Results | 4 |
Other Information | 39 |
Condensed Consolidated Income Statement | 45 |
Condensed Consolidated Statement of Comprehensive Income | 46 |
Condensed Consolidated Balance Sheet | 47 |
Condensed Consolidated Cash Flow Statement | 49 |
Condensed Consolidated Statement of Changes in Equity | 50 |
Notes to the Condensed Consolidated Interim Financial Information | 51 |
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CORPORATE INFORMATION
Honorary Chairman | Alan Chuang Shaw Swee |
Directors | Albert Chuang Ka Pun, J.P. |
(Chairman and Managing Director) | |
Richard Hung Ting Ho (Vice Chairman) | |
Edwin Chuang Ka Fung (Deputy Managing Director) | |
Ann Li Mee Sum | |
Candy Kotewall Chuang Ka Wai | |
Geoffrey Chuang Ka Kam | |
Chan Chun Man | |
Abraham Shek Lai Him, G.B.S., J.P.* | |
Fong Shing Kwong* | |
Yau Chi Ming* | |
David Chu Yu Lin, S.B.S., J.P.* | |
Tony Tse Wai Chuen, B.B.S., J.P.* | |
* Independent Non-Executive Directors | |
Audit Committee | Abraham Shek Lai Him, G.B.S., J.P.# |
Fong Shing Kwong | |
Yau Chi Ming | |
Nomination Committee/ | Abraham Shek Lai Him, G.B.S., J.P.# |
Remuneration Committee | Fong Shing Kwong |
David Chu Yu Lin, S.B.S., J.P. | |
Corporate Governance | Albert Chuang Ka Pun, J.P.# |
Committee | Edwin Chuang Ka Fung |
Candy Kotewall Chuang Ka Wai | |
Chan Chun Man | |
Company Secretary | Lee Wai Ching |
Independent Auditor | PricewaterhouseCoopers |
Certified Public Accountants and | |
Registered Public Interest Entity Auditor | |
22nd Floor, Prince's Building | |
10 Chater Road | |
Central, Hong Kong | |
Registrars | Bermuda: |
MUFG Fund Services (Bermuda) Limited | |
4th floor North | |
Cedar House | |
41 Cedar Avenue | |
Hamilton HM 12 | |
Bermuda | |
Hong Kong: | |
Tricor Standard Limited | |
Level 54, Hopewell Centre | |
183 Queen's Road East | |
Hong Kong |
- Chairman of the relevant committee
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CORPORATE INFORMATION (Continued)
Principal Bankers | The Hongkong and Shanghai Banking |
Corporation Limited | |
Hang Seng Bank Limited | |
Bank of China (Hong Kong) Limited | |
China Construction Bank (Asia) Corporation Ltd. | |
Nanyang Commercial Bank, Limited | |
Bank of Communications Co., Ltd. | |
Registered Office | Clarendon House, 2 Church Street |
Hamilton HM 11, Bermuda | |
Principal Office | 25th Floor, Alexandra House |
in Hong Kong | 18 Chater Road, Central, Hong Kong |
Telephone: (852) 2522 2013 | |
Facsimile: (852) 2810 6213 | |
Email address: chuangs@chuangs.com.hk | |
Website: www.chuangs-consortium.com | |
Singapore Office | 245 Jalan Ahmad Ibrahim, Jurong Town |
Singapore 629144 | |
Republic of Singapore | |
Vietnam Office | Room 204A, 2nd Floor |
Capital Place Building | |
6 Thai Van Lung Street, District 1 | |
Ho Chi Minh City, Vietnam | |
Mongolia Office | Suite 1202A, Sunroad Office |
No. 91 Narnii zam Street | |
1st Khoroo, Sukhbaatar District | |
Ulaanbaatar 14210 | |
Mongolia | |
Stock Code | 367 |
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MANAGEMENT DISCUSSION ON RESULTS
The board of Directors (the "Board") of Chuang's Consortium International Limited (the "Company") presents the interim report including the condensed consolidated interim financial information of the Company and its subsidiaries (collectively as the "Group") for the six months ended 30 September 2021. The condensed consolidated income statement, the condensed consolidated statement of comprehensive income, the condensed consolidated cash flow statement and the condensed consolidated statement of changes in equity for the six months ended 30 September 2021, and the condensed consolidated balance sheet as at 30 September 2021 along with the notes thereon, are set out on pages 45 to 70 of this report.
HIGHLIGHTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021
Business
- In May 2021, the Group has completed the disposal of the subsidiaries that held the Panyu property project in the People's Republic of China with an aggregate consideration of about RMB1,574.9 million (equivalent to approximately HK$1,896.7 million), and a net gain of approximately HK$1.04 billion (before deducting non-controlling interests of about HK$0.4 billion) was recorded during the period. The disposal represented a valuable opportunity for the Group to accelerate the return on this investment at a considerable profit and generate substantial cash inflow to the Group.
- Moreover, the Group has also disposed of Greenview Garden, the Vietnam project, to an independent third party for a consideration of about US$25.6 million (equivalent to approximately HK$198.9 million). The transaction was completed in May 2021 and a net profit of approximately HK$84 million was recorded during the period. This disposal has further strengthened the financial position of the Group.
- For ONE SOHO, the joint venture project at Mongkok, development is proceeding as scheduled. Site formation and foundation works have been completed, and superstructure works are in progress. Pre-sale consent of the 322 residential units has been obtained in April 2021 and pre-sale has commenced accordingly with satisfactory result. Up-to-date, a total of 184 units have been pre-sold at aggregate amount of about HK$1.3 billion. According to the current marketing and sales plan, the targeted total sales proceeds of the residential portion of this project are estimated to be about HK$2.3 billion.
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Disclaimer
Chuang's Consortium International Ltd. published this content on 10 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 08:38:03 UTC.