GuocoLand

GuocoLand: To sell a land parcel located in Nanjing, China, to a third party for consideration of Rmb 1.2b ($246m). The sale is expected to be completed by 30 Aug 2013. GuocoLand intends to utilise the sale proceeds for deployment to other opportunities. GuocoLand is expected to recognise a net gain of ~$81m. Based on FYJun12 figures, this will lift GuocoLand’s NTA by 7¢ to $2.23.