Tuesday, January 8, 2013

GSH

GSH: gives update on its China real estate devt plans. Enters into non-binding memorandum of intent (MOI) with the Longhai City Govt for the proposed joint planning and devt of the Longhai-Singapore Eco-City Project in Longhai City Nanxi Wan New City Dongyuan Sector. The joint project is in line with the plans of Zhangzhou City to position itself as a “Garden and Eco-City” by leveraging on its strategic location as a coastal city close to the Fujian gateway of Xiamen. The land plot size is approx 8000 mu, or 5.3m sm, to be provided by the Longhai City Govt, with planning and devt to be undertaken by companies to be incorporated in Longhai City by GSH. No financial details were provided yet. The MOI shall terminate in the event the Parties do not enter into the Definitive Legal Documentation within 6mths. The stock is in top volume at $0.108, +6.9%.

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