Affirms Leadership in Property Industry
HONG KONG, Sept. 28 /Xinhua-PRNewswire-FirstCall/ -- HKC (Holdings) Limited ("HKC (HOLDINGS)" or "the Group") (HKEx: 190) has been selected as a constituent stock in the Hang Seng Composite Index, Hang Seng Mainland Composite Index, Hang Seng Composite Industry Index - Properties & Construction, Hang Seng Freefloat Composite Index and Hang Seng Mainland Freefloat Index, effective from 15 October, 2008.
Mr. Eric Oei, Executive Chairman of HKC (HOLDINGS), commented on the recognition, "We are proud that HKC (HOLDINGS) has been included as a constituent stock in the Hang Seng Family of Indexes. This not only serves as a recognition of our Group's rapid progress as a major China property developer, but also indicates the company's increasing importance to the Hong Kong stock market. I would like to take this opportunity to thank all our staff for their meticulous efforts in contributing to the Group's business growth and in gaining the trust from our shareholders."
Established in 1973, HKC (HOLDINGS) is now one of China's foremost property developers and its success has been reflected in its market capitalization, which passed the HK$20.0 billion mark at one point in 2007. The Group's ability to acquire high-grade land bank at reasonable prices has attracted renowned investors such as Cerberus Asia Capital Management, LLC and Penta Investment Advisers Ltd. The valuable partnership with CB Richard Ellis Partners Asia II, LP also demonstrates the Group's core focus in property development is highly recognized and holds tremendous growth potential.
"Encouraged by such prestigious acknowledgement, we are committed to continuing the growth of our business. The company has a strong balance sheet with a net cash position and strong partners. Building on our strong foundations, we are confident in unlocking the hidden value of our landbank and in achieving significant returns for our shareholders," Mr. Eric Oei concluded.
About HKC (Holdings) Limited (stock code: 190)
HKC (Holdings) Limited is principally engaged in property development and investment activities with a primary focus in the PRC and has been admitted as one of the constituent stocks of the Hang Sang Composite Index, the Hang Seng Mainland Composite Index, Hang Seng Composite Industry Index - Properties & Construction, the Hang Seng Freefloat Composite Index as well as Hang Seng Mainland Freefloat Index, effective on 15 October 2008. In October 2007, Cerberus Asia Capital Management, LLC has become the Group's second largest shareholder. In March 2008, the Group acquired 74.99% interest in J.I.C. Technology Company Limited (SEHK: 987), now known as Hong Kong Energy (Holdings) Ltd. All new investment in the alternative energy business will be conducted through Hong Hong Energy.
For more information, please visit the Group's website: http://www.hkcholdings.com .
SOURCE HKC (Holdings) Limited
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