The property has a remaining leasehold tenure of around 41 years and a total gross floor area (GFA) of about 149,293.3 sqm for industrial use.
The underlying assets constitute significant operational assets of Airwell Air-Conditioning Technology, whereby the sale would lead to its eventual voluntary winding up and dissolution.
The consideration of RMB141 million was arrived on a willing-buyer and willing-seller basis after taking into the consideration of the underlying assets set out in the valuation reports issued by independent firm Taicang Zhongxin Real Estate Appraisal and Mapping.
Based on the valuation reports, the total value of the underlying assets as at Sep 4, 2019, is at RMB141.1 million.
Shares in Hong Leong Asia closed 1.5 cents lower, or 3.2% down, at 45.5 cents on September 30.
