December
SIHL completed the repurchase agreement with Glorious Property. According to the agreement, Glorious Property repurchased from SIHL the entire equity interests of Shanghai Bay project located in Shanghai's Xuhui District, at the original consideration of RMB2 billion (approximately HK$2.439 billion).
December
Its A-share subsidiary SI Development signed a share transfer agreement for the transfer of its entire 50% equity interests of Qingdao City's Tangdao Bay project located in Huangdao District to the subsidiary of Chow Tai Fook Enterprises in Hong Kong, at a consideration of RMB1.183 billion (approximately HK$1.443 billion).
July
The acquisition from parent company of 63.65% equity interest in SI Development, a company listed in the A-share market in Shanghai, for a consideration of RMB5,130 million, was announced in August 2010. The transaction was completed in early July 2011 and the annual results of SI Development for 2011 will be consolidated into SIHL's accounts according to the merger accounting method in the second half of 2011.
July
Pursuant to the original share acquisition agreement relating to a 2009 investment project - Shanghai Bay, Glorious Property shall repurchase the entire equity interest in this project at the original consideration of RMB2 billion in the mainland. On 29th July 2011, SIHL and Glorious Property reached an agreement and announced SIHL's disposal of the entire equity interest in an overseas holding company of the relevant project for the same consideration. Early completion of the transaction is expected with the consideration to be paid in Hong Kong on or before 1st December, 2011.
April
Signed an agreement with SI Urban Development which will acquire 59% equity interest in Shanghai Urban Development, a subsidiary of SIHL, together with the interest in the dividend receivable to SIHL, through the allotment and issue of new shares to SIHL. Total consideration is approximately HK$6.11 billion. After completion of the acquisition, SUD will become a subsidiary of SIUD. The transaction is conditional upon the approval of the Stock Exchange and the Securities and Futures Commission as well as independent shareholders of SIUD.
February
Disposal of 90% equity interest in lots F and G of the Qingpu land project and 77% equity interest in the Four Seasons Hotel Shanghai project to Chow Tai Fook group, with considerations of RMB2,432 million and HK$1,164 million respectively. SIHL and Chow Tai Fook will jointly develop the respective land lots and operate the Four Seasons Hotel Shanghai. The transaction for the disposal of the said equity interests in lot F and the Four Seasons Hotel Shanghai project was completed at the end of June 2011, resulting in a disposal gain of approximately HK$1,842 million. The disposal of 90% equity interest in lot G of the Qingpu land is expected to be completed in 2012.
January
Disposed of all 78.13% equity interest held in Hebei Yongxin Paper for a consideration of RMB564 million. Wing Fat Printing recorded a disposal gain of HK$162 million.