China Pan-Holdings (00715.HK) to sell Hawaii assets for $92.92 million


China Pan Holdings (00715.HK) announced that on March 16, 2022 (Hong Kong time), the seller Pan Hai Hawaiian Resort Community Co., LTD. (an indirectly wholly-owned subsidiary of the Company) entered into a sale and Purchase agreement with the buyer Tower Kapolei MF Holdings, LLC. Hereby,The vendor conditionally agreed to sell and the purchaser conditionally agreed to purchase the property located in the State of Hawaii, USA, for $92.92 million.The property is located in the United States Hawaii Honolulu city county oahu Eva area in Honolulu lu carper minefield.The group is mainly engaged in property investment in China, real estate development in the United States, energy and power industry development in Indonesia, and financial investment and other businesses.The sale under consideration will (I) provide the Group with a cash inflow to repay the Group’s debt;(ii) realisation of assets that do not generate immediate income;And (iii) to reduce the group’s future financial burden. The Directors consider that the sale is necessary and appropriate and represents a good opportunity and opportunity for the Group to clear outstanding debts and reduce its current financial burden.

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