MISCELLANEOUS :: CLARIFICATION OF SHAREHOLDER’S LOAN

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Name of Announcer * PAN HONG PROPERTY GROUP LTD  
Company Registration No. 37749  
Announcement submitted on behalf of PAN HONG PROPERTY GROUP LTD  
Announcement is submitted with respect to * PAN HONG PROPERTY GROUP LTD  
Announcement is submitted by * Wong Lam Ping  
Designation * Executive Chairman  
Date & Time of Broadcast 17-Aug-2007 18:32:16  
Announcement No. 00145  

 
 

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Announcement Title * Clarification of Shareholder’s Loan  

 

Description
The Board of Directors of Pan Hong Property Group Limited makes this announcement to clarify that the shareholder’s loan of approximately RMB33.4 million included in the consolidated balance sheet as at 30 June 2007 was actually a loan granted by an independent third party. The principal amount of such unsecured loan was HK$33,393,560 at an annual interest rate of 10% for a term of 1 year, i.e. from 1 June 2007 to 28 May 2008. This loan was utilized as the paid-up capital contribution to Jiangxi Asia City Real Estate Development Co., Ltd. in 2Q2007.


By Order of the Board


Wong Lam Ping
Executive Chairman

Date: 17 August 2007



Note: 
The initial public offering of the Company"s shares was sponsored by CIMB-GK Securities Pte. Ltd.