7th Sep 2015 15:24
LONDON (Alliance News) - China Chaintek United Co Ltd on Monday said it has being repaid CNY273 million by the Fujian Jinjiang Industrial Park Development and Construction Co Ltd.
The payment relates to the originally planned new Logistics Park over a parcel of land in Cizao Town, Jinjiang City, Fujian Province, China.
"Chaintek is pleased to have received a full refund of CNY273 million for its land purchase from the LDC. The group will seek for the best use of the cash newly available to Chaintek to support the group's expansion plans and will update shareholders as and when appropriate," Chief Executive Xu Meijin said in a statement.
China Chaintek shares were up 15% at 17.85 pence on Monday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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