Beijing Ent (HKG:0392) to Get RMB240M from Reform Fund


Beijing Enterprises Holdings (HKG:0392) has recently been informed that Shenzhen Municipal Government in principle approved to pay a compensation of RMB240 million from City Roads and Tunnels Reform Fund to take back the toll operation right of Guanshun Road and cease the business operation of Shuitian Toll Station by 31 December 2011.

The company is discussing with relevant authorities in Baoan District of Shenzhen to work out a scheme related to severance, compensation and all other matters following the cessation of business operation of Shuitian Toll Station. However, there is presently no concrete detail of the scheme. The company will make further announcement in accordance with the requirement of the Listing Rules when a finalized scheme is available.

Shuitian Toll Station is operated by the company's 55%-owned indirect subsidiary Shenzhen Guanshun Road & Bridge Co., Ltd.


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