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Chen Hsong Group (00057-HK) announced that it plans to jointly develop three plots of land in Kengzi, Pingshan, Shenzhen with Team Empi re .
After the trading hours on November 28, 2018, Huahuang, Team Empire and GawCap ital , a wholly-owned subsidiary of the company, entered into a framework cooperation agreement, pursuant to which Huahuang and Team Empire will cooperate to seek written approval from the government for the business plan, Team Empire Project preparation funds will be provided; and Gaw Capital will provide guarantees for the performance of certain obligations of Team Empire under the Framework Cooperation Agreement .
Em pi re Cap ital
The group announced that the group is still waiting for feedback and responses from relevant departments on the application, so it is expected that more time will be needed to determine the corresponding project timetable
.
With regard to the above updated timetable, the parties agree to further extend the period from January 31, 2020 to December 31, 2020, and the period specified in the terms of the framework agreement to February 1, 2020
.