SE ASIA PPT (00252) subsidiary intends to acquire Hong Kong property for HK$128 million

SE ASIA PPT (00252) announced that on October 30, 2026, the purchaser (a directly wholly-owned subsidiary of the Company) entered into a sale and purchase agreement with the vendor, Hang Jie Development Limited, pursuant to which the purchaser agreed to acquire and the vendor agreed to sell the property for a consideration of HK$128 million in cash. The property to be acquired is the whole or entire lot of land registered at the Land Registry as New Kowloon Inland Lot No. 3536, together with all dwelling houses, erections and buildings erected thereon known as "Ka Wong Garden" (the development), including all of the following parts of the development: (i) ground floor (including its courtyard); (ii) first floor; (iii) second floor; (iv) third floor; (v) fourth floor; (vi) fifth floor; (vii) sixth floor (including the main roof portion thereon); (viii) car parking space No. 1 on the ground floor; (ix) car parking space No. 2 on the ground floor; (x) car parking space No. 3 on the ground floor; (xi) car parking space No. 4 on the ground floor; and (xii) car parking space No. 5 on the ground floor. The property is located in a core area and possesses extremely high redevelopment value. The acquisition will expand the Group's urban land reserve. Upon completion, the Group intends to demolish the property and redevelop it into a brand-new residential tower. The Board believes that the acquisition is in line with the Group's long-term property development objectives and can bring satisfactory returns to shareholders.