Response to SGX Queries::

Issuer & Securities

Issuer/ Manager
SINARMAS LAND LIMITED
Securities
SINARMAS LAND LIMITED - SG1E97853881 - A26
Stapled Security
No

Announcement Details

Announcement Title
Response to SGX Queries
Date &Time of Broadcast
15-Mar-2021 17:32:07
Status
New
Supplementary Title
On Other Announcements
Announcement Reference
SG210315OTHR7WFJ
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Company Secretary
Description (Please provide a detailed description of the change in the box below)
RESPONSE TO SGX QUERIES ON REALISATION OF INVESTMENT IN CHENGDU YOUXING GARDEN CO., LTD

The Board of Directors of Sinarmas Land Limited (the "Company" and together with its subsidiaries, the "Group") refers to the query from the Singapore Exchange Securities Trading Limited on 12 March 2021, regarding the Company's announcement of 11 March 2021 titled "Realisation of Investment in Chengdu Youxing Garden Co., Ltd", and wishes to respond as follows:

Questions:

We refer to the Group's investment in Chengdu Youxing Garden Co., Ltd ("Investment"). Please elaborate on the reasons why "the Group has ended the Investment" and quantify the financial impact to the Group's profit before income tax contributed by the Investment in FY2020.

Company's Response:

Reason for ending the Investment - The Group took a commercial decision to exit the Investment to realize its investment income.

Financial Impact - The financial impact to the Group's profit before tax for the financial year ended 31 December 2020 is approximately RMB38,532,000 (equivalent to approximately SGD7,960,711 applying exchange rate of RMB1 to SGD0.2066).


By Order of the Board
SINARMAS LAND LIMITED

Robin Ng Cheng Jiet
Director
15 March 2021