Hutchison Port Arm to Receive 16.3 Million Yuan for Additional Land Expropriation in Shenzhen
MT Newswires11-03
Shenzhen Pingyan Multimodal, a subsidiary of Hutchison Port (SGX:NS8U) has agreed to receive 16.3 million yuan in compensation for the compulsory expropriation of additional land and attached assets in Yantian, Shenzhen, China
The additional expropriation covers approximately 15,121 square metres of land currently used for railway operations, according to a Monday filing to the Singapore bourse.
The company's shares fell more than 2% in Tuesday's trade.
The subsidiary entered into an expropriation and compensation agreement with the Yantian District Land Acquisition Centre on Monday, with the compensation payable in a single tranche.
The compensation was determined based on an independent valuation of 15.5 million yuan.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
