Logo of Phnom Penh Post newspaper Phnom Penh Post - Hong Kong firm pens $9.7M subsidiary sale

Hong Kong firm pens $9.7M subsidiary sale

Hong Kong firm pens $9.7M subsidiary sale

Hong Kong-listed firm Birmingham Sports Holdings Ltd announced it has entered into a $9.7 million sales purchase agreement for its equity shares in its wholly owned subsidiary Orchard Gold, one of the developers of the One Park project in Shukaku’s Phnom Penh City Centre, according to a company release last Friday.

Pursuant to the deal, Orchard Gold has conditionally agreed to purchase three indirectly wholly owned subsidiaries and holding companies for Birmingham Sports – Celestial Fame, Deep Blue and Ever Depot – for a total of $33.6 million.

These companies had previously entered into sale, leasing and construction agreements with Beijing-based Graticity Real Estate Development, the lead developer of the massive One Park project.

MOST VIEWED

  • All inbound flights set to face added scrutiny

    Ministry of Health spokesperson Or Vandine said on Monday that the ministry is monitoring all inbound flights, after it was announced that only those from Malaysia and Indonesia will be temporarily cancelled from August 1. Vandine said on Monday that the two countries were identified as

  • Flights from Indonesia, Malaysia cancelled

    A Ministry of Health official has warned of the possibility of Covid-19 spreading through community transmission after the total infected cases in the Kingdom rose to 225. Ministry spokeswoman Or Vandine told reporters on Saturday that the possibility of community transmission cannot be overlooked and that

  • Man in quarantine dies of ‘overdose’

    The Ministry of Health on Thursday said a Cambodian migrant worker who died while being isolated at a quarantine centre in Tbong Khmum province’s Kroch Chhmar district may have died from syncope or overdose of tablets. In a statement, the ministry said the 21-year-old