January 12, 2017 / 2:34 PM / 6 months ago

BRIEF-Goldin Financial Holdings updates on development agreement

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Jan 12 (Reuters) - Goldin Financial Holdings Ltd

* JV company and guarantors entered into development agreement with mtr corporation for development of land

* Goldin Financial Holdings Ltd - as per deal, JV company shall be required to design, build and complete development

* Goldin Financial - MTR corporation, JV co shall share surplus proceeds in agreed ratio of 35% by Mtr Corporation and 65% by JV company, respectively

* Goldin Financial - concept pioneer shall provide initial shareholders' loan to JV co in amount of HK$660 million on completion of subscription of new JV shares

* Goldin Financial - total development costs for development (including assessed premium and lump sum payment) are estimated by company to be HK$13 billion Source text for Eikon: Further company coverage:

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