Source : Business Times - 30 Jun 2008
Lum Chang Holdings Limited and L.C. Development Limited said in a joint statement today that they have decided to abort a development project in Guangzhou, China.
‘We wished to advise that since then, the project and the framework agreement have been aborted after due consideration,’ the companies said in the statement.
On December 17, 2007, the two companies announced they have entered into an arrangement with Guangzhou Weicheng Real Estate Development to jointly develop a largely residential project located at 828 Tonghe Road, Nanhu, in Guangzhou. The project is known as The Lakefront Residence.
Hong Kong 08 Limited, a company jointly owned by the two companies, remains a dormant company. — BT Newsroom
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