(Hong Kong, 31 January 2018) – Chuang’s China Investments Limited (“Chuang’s China” or “the Group”) (HKSE: 0298) announced that the proposed ordinary resolution of acquiring Central Plaza, commercial property in Kuala Lumper, Malaysia, at an aggregate consideration of MYR175.0 million (equivalent to approximately HK$336.0 million), as set out in today’s Special General Meeting was duly passed by 99.33% of shares represented by votes (representing 53,643,153 shares of Chuang’s China).

Located in the heart of central business district and prestigious shopping area of Kuala Lumpur, Central Plaza is a 29-storey high rise office building having a total gross floor area (“GFA”) of approximately 382,000 square feet. It comprises of retail and office spaces with total GFA of approximately 254,000 square feet (on total net lettable area basis is approximately 195,000 square feet) and 298 car parking spaces with total GFA of approximately 128,000 square feet. As at 30 November 2017, Central Plaza had an occupancy rate of approximately 71%. Based on the valuation and the monthly rental and other income of approximately MYR875,000 (equivalent to approximately HK$1.7 million) as at 30 November 2017, the gross rental yield of Central Plaza is approximately 6%.

Miss Ann Li Mee Sum, Deputy Chairman of Chuang’s China, stated “Malaysia is one of the leading active partners in the ‘Belt and Road’ initiative, which enjoys critical geographical location. Besides benefiting from the aspect of holistic connectivity, the ‘Belt and Road’ initiative could contribute to the local economic development of Malaysia. Through the acquisition of Central Plaza, the Group can utilize its cash on hand and invest and expand into the Malaysian market. Meanwhile, the acquisition is able to increase the Group’s property investment portfolio and enhance recurring rental income. After completion of transaction, the Group will monitor the market conditions to optimize investment return of Central Plaza”