(Hong Kong, 29 November 2017) – Chuang’s Consortium International Limited (“Chuang’s Consortium” or “the Group”) (HKSE: 0367) announced its unaudited interim results for the six months ended 30 September 2017 (“the Period under Review”). During the Period under Review, the Group’s profit attributable to equity holders of the Company recorded an increase of 23% to HK$496 million (2016: HK$403 million). Earnings per share amounted to 29.60 HK cents (2016: 23.88 HK cents). The board declared an interim dividend of 3.0 HK cents per share.

During the Period under Review, the Group completed the acquisition of Posco Building in Sham Shui Po, Kowloon. Currently, Posco Building is for commercial and industrial use and the Group has obtained the permission to convert the industrial use portion to office use. It is believed that the rental yield and capital value of Posco Building will be further enhanced after such conversion. 

Furthermore, the Group announced that it has successfully acquired full ownership of No. 20 Gage Street, and about 83% and 81% ownership of No. 16 and No. 18 Gage Street respectively in Central, Hong Kong. The Group will take steps to acquire the remaining units within the development. With the prime location at Central, the Group is optimistic about the prospect of this project.

Mr. Albert Chuang Ka Pun, Vice Chairman of Chuang’s Consortium, stated “Chuang’s Consortium has actively replenished its land bank during the Period under Review for future development. Looking forward, the Group will continue to take steps to further enhance rental yield and return of its investment and hotel properties, speed up the development of various projects and identify new business opportunities including land acquisitions and property investments, with a view to continue to create value for our shareholders.”