LUMINOR FINANCIAL HOLDINGS LIMITED

(Company Registration Number: 201131382E)

(Incorporated in the Republic of Singapore)

REPOSSESSION OF DEVELOPMENT PROPERTY LAND IN FULING DISTRICT, CHONGQING,

PEOPLE'S REPUBLIC OF CHINA ("PRC")

The Board of Directors ("Board") of Luminor Financial Holdings Limited (formerly known as Starland Holdings Limited) (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcement dated 27 March 2019 and 12 November 2021 (the "Announcements"), in relation to the repossession of development property land in Fuling District, Chongqing, PRC. Unless otherwise defined in this announcement, all capitalised terms used herein shall bear the same meaning as in the Announcements.

The Board wishes to update that the Board, having deliberated and considered all options, have decided to accept the Offer of RMB42,940,100 as compensation for repossession of the Land from Fuling District local authority. The Land has a book value of RMB8,413,000 as at 30 September 2021. The estimated financial impact of the Repossession will be a gain on disposal of RMB34,527,100 and a corresponding tax charge on the realised gain of approximately RMB 8,631,800.

BY ORDER OF THE BOARD

Kwan Yu Wen

Executive Director

30 November 2021

This announcement has been prepared by Luminor Financial Holdings Limited (formerly known as Starland Holdings Limited) (the "Company") and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01- 01, Singapore 229957, telephone (65) 65906881.

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GRP Limited published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 12:20:03 UTC.