$Pan Hong (P36.SG)$ Pan Hong Holdings Group Establishes New ...

$Pan Hong(P36.SG)$
Pan Hong Holdings Group Establishes New Subsidiary in China

Pan Hong Holdings Group (SGX: P36) incorporated a subsidiary in China with a registered capital of RMB 5.5 billion (US$85 million), the Exchange documents showed on Friday. .

Subsidiary Shanwei Panhong Runhe Real Estate Development Co., Ltd. is named by three subsidiaries of Panhong Holdings, Huzhou Panhong Runyuan Housing and Land Development Company and Huzhou Panhong Runhe Real Estate Development Co., Ltd.

Shanwei Pan Hongrun Real Estate Development Co., Ltd.'s main business includes real estate development and management.

Pan Hong Holdings Group funds the establishment of the company through its internal resources.

Real estate developers do not have any significant impact on the Group's earnings per share or net tangible assets in the Group in the current financial year ending March 31, 2022.