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SOLL-Ocean Plaza (Beijing)

Investment in an associated company - Sino-Ocean Land Holdings Limited

COSCO International's associated company, Sino-Ocean Land Holdings Limited ("SOLHL") owns 100% interest in Sino-Ocean Land Limited ("SOLL"). SOLL is a renowned property developer in China Mainland and has won numerous awards for property development projects in Beijing. SOLL develops medium to high-end residential properties and premium grade office buildings, retail properties, services departments and hotels. SOLL explores property development markets in the Pan-Bohai Rim Area, the Pearl River Delta and the Yangtze River Delta. On 28th September 2007, SOLHL was listed on the mainboard of the Stock Exchange of Hong Kong Limited. COSCO International now holds 20.72% interest in SOLHL.


 


Fragrant Garden

 The residential portion of Fragrant Garden, the Company's property development in Shanghai, has been substantially sold and handed over. As of 31st December 2007, a total of 1,841 square metres of retail shops and 193 carparking spaces remained unsold. As the project is close to a final stage, Shanghai COSCO Honour Property Development Limited has commenced voluntary liquidation. The Company will adopt a flexible marketing strategy and endeavour to sell the remaining properties before the completion of liquidation.