Wai Kee hold (00610.HK) and build king hold (00240.HK) jointly announced that their subsidiary, Wai Kee China State Construction Engineering Corporation, entered into a sales agreement yesterday (18th) with Wuxi Huicheng Water Affairs Group and Wuxi Qianhui Sewerage (a subsidiary in which Wai Kee China State Construction Engineering Corporation holds 95.576% equity). It is reported that Wai Kee China State Construction Engineering Corporation agreed to sell 75.576% equity of Wuxi Qianhui Sewerage to Wuxi Huicheng Water Affairs Group for a consideration of 0.124 billion yuan.

Upon completion, Wuxi Qianhui Sewerage will no longer be a subsidiary of build king hold and Wai Kee. Since Wai Kee China State Construction Engineering Corporation will continue to hold 20% equity of Wuxi Qianhui Sewerage, it will be accounted for as an associate of build king hold and Wai Kee.

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