The Stock Exchange has received a message from Sino-i.com Limited which is
reproduced as follows:-
"This statement is made at the request of The Stock Exchange of Hong Kong
Limited.
We have noted the recent increase in the trading volume of the shares of
the Company and wish to state that we are not aware of any reasons for
such increase.
We confirm that there are no negotiations or agreements relating to
intended acquisitions or realisations which are discloseable under
paragraph 3 of the Listing Agreement, neither is the Board aware of any
matter discloseable under the general obligation imposed by paragraph 2 of
the Listing Agreement, which is or may be of a price-sensitive nature.
Made by the order of the Board of Sino-i.com Limited, the directors of
which individually and jointly accept responsibility for the accuracy of
this statement.
By Order of the Board of
Sino-i.com Limited
Lam Bing Kwan
Director
17 November, 1999"
Thursday, 18 November 1999 02:31:01
ENDS [nSHK211064]
--------------------------------------------------
** SINO-I.COM <0250.HK>, DOWN HK$0.035 AT HK$0.495 **
Sino-i.com Ltd said on Monday the company and its
subsidiaries had agreed to sell their interest in Acesite
(Phils.) Hotel Corp for a total of HK$266.8 million.
--------------------------------------------------
((Hong Kong Newsroom +852 2843-6570, Fax +852 2845-0636
hongkong.newsroom@reuters.com))
Monday, 4 October 1999 09:25:24
ENDS [nHKG28137]
HONG KONG, Oct 4 (Reuters) - Sino-i.com Ltd said on Monday the company and its subsidiaries had agreed to sell their interest in Acesite (Phils.) Hotel Corp for a total of HK$266.8 million.
Evallon Investment Ltd, a wholly owned unit of Sino-i.com, would sell the entire issued share capital of Acesite Ltd to South Port Development Ltd for HK$257.66 million, it said in a statement.
The company also agreed to sell the entire issued capital of Nickell International Ltd to First Foundation Ltd for HK$9.14 million.
Acesite and Nickell are interested in 74.89 million shares and 2.66 million shares of the capital of Acesite (Phils.) Hotel, representing 75 percent and 2.66 percent of the issued share capital of Acesite Hotel.
Sino-i.com said the price represents about HK$3.44 per share of Acesite, or a premium of about 145.71 percent over the last traded price of 7.0 pesos of the shares of Acesite.
The company, which is involved in property development and investment and the information technology business, is in the process of disposing of its non-core business, including hotel operations, it said.
((Hong Kong Newsroom +852 2843-6369, Fax +852 2845-0636 hongkong.newsroom@reuters.com))
Monday, 4 October 1999 03:01:09
ENDS [nHKG23314]
HONG KONG, Oct 4 (Reuters) - Sino-i.com Ltd said its audited
yearly loss for the year ended March 31 amounted to HK$385.88
million.
The company on September 1 reported an unaudited yearly loss
of HK$371.88 million for the period under review.
Following is a table of the yearly results for the year
ended March 31, which are qualified by the company's auditor.
(in million HK$ unless stated)
Shr (H.K. cents) 36.30 loss vs 71.81 loss
Dividend (H.K. cents) nil vs nil
Exceptional items 189.93 loss vs 300.67 loss
Net 385.88 loss vs 451.80 loss
Turnover 187.95 vs 712.18
Company name Sino-i.com Ltd
Books close October 22-29
Dividend payable N/A
NOTE - Sino-i.com, formerly South Sea Development Co Ltd, is
a textile manufacturer and investment holding firm.
Net is after exceptional items from continuing operations of
HK$27.52 million loss on writedown of interests in and amount
due from jointly controlled entities to net realisable value,
HK$50.1 million loss on writedown of interest in a property
development project to net realisable value, HK$31.95 million
loss on provision for diminution in value of land held for
development for sale, HK$26.95 million loss on provision for
diminution in value of properties held for sale, HK$68 million
loss from deficit on revaluation of investment properties, and
HK$14.58 million gain from surplus on revaluation of hotel
property.
Net is also after exceptional items from discontinued
operations of HK$68.56 million loss on disposal of
non-consolidated subsidiaries and liquidation of a subsidiary vs
nil.
The calculation of loss per share is based on the weighted
average of 1,063.13 million shares vs 629.15 million shares.
The loss per share for both 1998 and 1999 have been
calculated in accordance with the provisions of Statement of
Standard Accounting Practice No. 5 (Revised) issued by the Hong
Kong Society of Accountants in May 1998.
Total dividend for year is nil vs nil.
((Hong Kong Newsroom +852 2843-6368, Fax +852 2845-0636
hongkong.newsroom@reuters.com))
Monday, 4 October 1999 02:48:14
ENDS [nHKG88554]
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