Hwa Hong

Hwa Hong: 82% owned subsidiary, Capital Hatton Limited has agreed to dispose of its interests in 2 properties in London for £11m. The properties are currently undergoing refurbishment and the disposal is expected to complete by 3Q14. If completed, the disposal is expected to result in a pre-tax gain of ~£3.8m, expected to be reflected in 3Q14 results. Illustratively, assuming the disposal had taken place on 31 Dec’13, proforma FY’13 NTA would have improved 3.9% to 32.09¢, and proforma FY’13 EPS would have improved 76.3% to 2.38¢