RNS Number : 5360I
  Canton Property Investment Limited
  19 November 2008
   


    Canton Property Investment Limited (the "Company")

    19 November 2008


    Statement re Claim from Contractor 


    The Company has been notified that Jiangsu Huajian Construction Co., Ltd., the main contractor of the Mall of Canton (one of the Group's
property assets in China), has recently made a claim against Guangzhou Jin Dong Yuan Real Estate Development Co., Ltd. ("Jin Dong Yuan"),
the holding company of the Mall of Canton and a subsidiary of the Company, for a sum of RMB 74.87 million (approximately US$11.0 million)
for construction works allegedly completed and for losses and damages arising from the alleged early termination of the construction
contract by Jin Dong Yuan.   

    The Company is seeking legal advice on this matter and will issue a further announcement in due course.

    FOR ENQUIRIES:

    Canton Property Investment Limited
    Charlie Lin, Chief Executive Officer                     Tel: +852 2219 9669

    Libertas Capital
    Jakob Kinde/Sandy Jamieson                             Tel: +44 20 7569 9650

    First City Financial Public Relations
    Allan Piper/Jiang Lei                                               Tel: +44 20 7242 2666



This information is provided by RNS
The company news service from the London Stock Exchange
 
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