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OCT (Asia) Acquires Commercial Development Project Deepens Southwest China Footprint

(March 7, 2016, Hong Kong) Overseas Chinese Town (Asia) Holdings Limited (“OCT (Asia),” the “Company,” together with its subsidiaries (the “Group,” HKSE stock code: 3366.HK) is pleased to announce Chengdu OCT Chuang Ying Enterprise Management Co., Ltd.

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Ultimate controlling shareholder—OCT Group

 

      OCT Group, the ultimate controlling shareholder of OCT (Asia), is a large enterprise group which has received high recognitions in contemporary city development and operation.

 

      Founded in 1985, OCT Group is directly managed by the State-owned Assets Supervision and Administration Commission of the State Council(SASAC). Over the last 30 years, OCT Group, a pioneer in promoting the concept of sustainability and internationalization, as well as humanities in city development and operation, has been combining resources and elements of business, entertainment, tourism, art, environmental protection, education and medical care with its city development schemes, developing and operating various city centers in 17 first-and-second-tier cities with customized functions. By adopting a mode of development which stresses sustainability and modern services, OCT Group has differentiated itself from traditional property developers and is honored as the “Best Brand of Comprehensive Development of Modern Service Industry” in China.

OCT Group


 

Controlling shareholder – OCT(HK) Company Limited

 

      OCT(HK) Company Limited, a wholly owned subsidiary of Shenzhen OCT Co., Ltd, was founded in Hong Kong and approved by The Ministry of Foreign Trade and Economic Cooperation of China in October, 1997. It currently holds the share of OCT (Asia) Holdings Limited, OCT Yunnan and InterContinental Hotel Shenzhen and so on with controlling interest and participation interest. OCT HK has defined its development strategy of combining comprehensive development of commercial complex and paper packaging business.

 

      Looking forward to the future, OCT HK will continue to maintain and carry forward excellent corporate conventions, to operate in line with the laws and regulations of Hong Kong Special Administrative Region, improve its governance structure, develop its main businesses and build its core competitiveness so as to rapidly promote the value of the corporation and its shareholders.

 Shenzhen OCT Co., Ltd