China Ouhua uncertain on land transfer completion

KUALA LUMPUR: Bursa Malaysia-listed China Ouhua Winery Holdings Ltd says it is unable to ascertain the completion date of transfer of a land title of some land and buildings in Yantai City, China which it had acquired more than 10 years ago.

The acquisition, for which it signed the sales and purchase agreement in December 2013, had seen the company paying 90% of the purchase price of 132 million yuan or valued at RM70.4mil then for the said properties.