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CK Asset postpones sale of luxury flats estimated to cost more than US$12.7 million citing social turmoil

CK Asset Holdings, the second largest developer by market value in Hong Kong, has become the latest builder to defer the sale of its luxury residential project, as 10 weeks of social turmoil has severely hurt consumer sentiment.The as-yet unnamed project at 21 Borrett Road, in Mid-Levels, was originally expected to be released for sale this month.Executive director Justin Chiu Kwok-hung said on Tuesday that the group had decided to postpone the sale of the luxury flats that would cost more than… Source link

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Hong Kong government indefinitely postpones tender of Kai Tak land as protests throw city out of gear

The Hong Kong government has indefinitely postponed the tender of a large waterfront residential site at the former Kai Tak airport after violent street protests against a controversial extradition bill rocked the city.“The Central Tender Board announces that the closing time for tenders to be received through the Government Secretariat Tender Box by noon tomorrow [June 14] will be extended until further notice, due to blockage of the public access to the Government Secretariat Tender Box,” the… Source link

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iPhone glass supplier Biel Crystal postpones US$1.5 billion Hong Kong listing amid market rout

Biel Crystal Manufactory, a key iPhone component supplier with factories in Shenzhen and Huizhou, has decided to push back its US$1.5 billion Hong Kong initial public offering because of the recent sell-off in the equities market. “We have decided to postpone the listing plan amid concerns that the sell-off could affect its pricing, the valuation and the flotation size,” said Yeung Kin-man, chairman of Biel Crystal, the world’s largest smartphone glass cover maker. “The Hang Seng Index fell from the peak level of 33,000 to 26,000 now. What’s the point…

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