General Announcement::Update on Group's Operations in China due to Covid-19 Pandemic

Issuer & Securities

Issuer/ Manager
BUND CENTER INVESTMENT LTD
Securities
BUND CENTER INVESTMENT LTD - BMG1792W1367 - BTE
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
16-May-2020 07:00:20
Status
New
Announcement Sub Title
Update on Group's Operations in China due to Covid-19 Pandemic
Announcement Reference
SG200516OTHR3XOC
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
UPDATE ON GROUP'S OPERATIONS IN CHINA DUE TO COVID-19 PANDEMIC

Subsequent to the announcement made by the Board of Directors of Bund Center Investment Ltd (the "Company" and together with its subsidiaries, the "Group") on 19 February 2020 relating to the Covid-19 pandemic in the People's Republic of China ("China"), the Group had been closely monitoring the situation so as to stay abreast with the latest progressive developments in China, especially amidst fear of a second wave of infections in China with suspension of entry to foreigners on 28 March 2020.

Since China's lockdown in January/February 2020, which has positively and effectively produced precautionary measures in curbing widespread of Covid-19 infections, the Group decided to gradually resume its strategic business operation of leasing properties for both Bund Center Office Tower, Shanghai and Golden Center, Ningbo in compliance with the Chinese Government legislative regulations and circulars, but will continue to monitor closely any updates and advisories from the local Chinese authorities.

The Westin Bund Center Shanghai hotel's temporary closure will be lifted with its official reopening today, on 16 May 2020, whereas the leasing properties of the Group are currently in the continuous process of progressive resumption of business operation.

Meanwhile, the Group has instituted and will continue to institute, without any complacency, a series of precautionary health and hygiene measures, including the stepping up of cleaning and disinfection of facilities and necessary temperature screening test of its employees. As the situation relating to the spread and containment of the Covid-19 virus still remains uncertain and fluid, the Group will continue to monitor the impact of the pandemic crisis that may have on its business operating performance.


By Order of the Board
BUND CENTER INVESTMENT LTD


Frankle (Djafar) Widjaja
Director
16 May 2020