Click here to close now.




















Welcome!

News Feed Item

Wanda Commercial Properties Granted the Right of First Refusal by Parent Company for Projects in Southern China, Creating a Platform for Integrating Domestic and Overseas Development

Hong Kong, Jan 13, 2014 - (ACN Newswire) - Wanda Commercial Properties (Hong Kong) Co., Limited ("Wanda HK"), the substantial shareholder of Wanda Commercial Properties (Group) Co., Limited ("Wanda Commercial Properties", stock code: 00169.hk), decided last Friday that to support the growth of the listed company, in the 3 years starting from 1st January 2014, it will grant the right of first refusal to Wanda Commercial Properties to participate in the commercial property projects it develops, particularly those in southern China which comprises provinces such as Guangdong, Guangxi and Hainan, allowing the listed company to decide whether or not to join the development projects. Wanda Commercial Properties would set up joint ventures with Wanda HK to cooperate in investing in commercial property projects. The company will endeavor to have such rights extended to other regions of China.

Wanda Commercial Properties is a commercial real estate investment and operations management company and is also Wanda Group's only listed financing platform for commercial property development. Its parent company the Dalian Wanda Commercial Properties Co., Ltd("DWCP"). has the top brand in China's commercial property market. The Wanda urban complexes, which spearheaded by Wanda with the name of "Wanda Plaza", is a commercial property development model which combines large commercial centers together with an urban pedestrian street, five-star hotels, office buildings and apartments to form a self-sustainable business magnet with shopping, catering, culture and entertainment on offer. As of 23 December 2013, DWCP has invested in and constructed 113 Wanda Plazas in 75 major cities in China and 85 of these Wanda Plazas have already been in operation. Currently, it is also operating 51 5-star or super 5-star hotels. As such, Dalian Wanda is among the first in the industry to gain a national footprint and has established a commanding lead in the commercial property market.

Southern China outperforms other parts of China economically. The grant of the first right of refusal is a strong indication that the controlling shareholder actively supports Wanda Group's only listed company engaged in the commercial property development sector. It has been settled that the direction of Wanda Commercial Properties would be developing property projects at home and abroad simultaneously. Recently, Wanda Commercial Properties has proposed a rights issue at the Subscription Price of HK$2.88 per Rights Share on the basis of three Rights Shares for every ten existing Shares in issue to raise funds of about HK$2.468 billion. The fund raised would be invested in projects in the PRC and overseas when suitable opportunities become available and for the purposes of general working capital. The latest time for acceptance of, and payment for, the Rights Shares is 4:00 p.m. on 15 January 2014 (Wednesday).

Wanda Commercial Properties' parent company, DWCP, has long been taking the lead in China's commercial property market. With Wanda's powerful brand, highly efficient development model, resource consolidation capacity both at home and abroad, solid financing platform, and financial support from Wanda HK, it is expected that Wanda Commercial Properties will participate in several Wanda Plazas development across Southern China after the rights issue through formation of joint ventures with controlling shareholding status, which may open the gateway towards opportunities in other regions. As a rising capital and business platform, Wanda Commercial Properties is worth watching as a target for investment.



Copyright 2014 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at @DevOpsSummit, Haseeb Budhani, CEO and Co-founder of Soha, shared five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the friction an...
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to tran...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
"Our biggest growth area has been the security services, the managed services - the things that differentiate us in the market that there is no client that's too small and there's no client that's too big," explained Paul Mazzucco, Chief Security Officer at TierPoint, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, broke down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them to d...