HENG TAI (00197) to build New Logistics Centre in Lianghua Town

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2012-07-06 17:37:23

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HENG TAI (00197) announced the Company and the Government of Lianghua Town entered into the Cooperation Agreement. Pursuant to the Cooperation Agreement, the Company shall be responsible for acquiring the land for, designing and constructing, the New Logistics Centre and its supporting facilities and thereafter its daily operation and management. The New Logistics Centre shall be located in Lianghua Town.

Government of Lianghua Town shall assist the Company in obtaining the necessary permits and approvals; constructing and enhancing the surrounding roads and facilities; obtaining favourable tax rate; liaising with local governmental and private distributors and suppliers, and planning a suitable environment for cooperation; and providing all necessary support to the Company, in relation to the New Logistics Centre under the Cooperation Agreement.

The Company said that by entering into the Cooperation Agreement, it will give the Group a competitive advantage to enable the Group to build up its brand, bring up the trading volume of its agricultural products and further strengthen its business and market share in the southern PRC via the New Logistics Centre. The successful completion of the New Logistics Centre will have a positive impact on the Group’s revenues and its business operation as a whole. (r)

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