Full­share ter­mi­nates Air­lie, Mackay deals

Port Douglas & Mossman Gazette - - BUSINESS - Shane Ni­chols

FULL­SHARE Hold­ings, the Chi­nese com­pany that owns the Sher­a­ton Mi­rage Grand Port Dou­glas, is ter­mi­nat­ing the ac­qui­si­tion of var­i­ous prop­er­ties Aus­tralia.

In a Hong Kong Stock Ex­change note on Fri­day, the rapidly grow­ing com­pany said it would not pro­ceed with the pur­chase of “land prop­er­ties at La­guna, Snowy River, Whis­per Bay, Alt­mann and Shin­g­ley”.

It said that even though it had re­ceived ap­proval by the For­eign In­vest­ment Re­view Board, the con­di­tions “are not com­mer­cially favourable to the Group”.

Full­share said the aban­don­ing of the deals did not af­fect its ex­ist­ing op­er­a­tions nor the fi­nan­cial con­di­tion of the com­pany.

“Full­share will fo­cus to de­velop the cur­rent as­sets into renowned at­trac­tions. Lever­ag­ing our ex­ten­sive net­work and rich ex­pe­ri­ences, the Group will con­tinue to source qual­ity as­sets and ac­qui­si­tion tar­gets.”

Full­share Hold­ings came un­der in­tense pres­sure in late April when an Amer­i­can share trad­ing house pub­lished an ex­tremely ad­verse anal­y­sis of the com­pany and mounted short-sell­ing share raid.

On Au­gust 14, Full­share an­nounced that one of its chief ex­ec­u­tive of­fi­cers, Deng Xiaox­iong, had re­signed in or­der to work else­where in the com­pany’s health­care divi­sion.

More re­cent in­for­ma­tion in­di­cates chair­man and ex­ec­u­tive director , Ji Changqun, is now the sole CEO. a

Ji Changqun at the cer­e­mony to re-launch the Sher­a­ton Mi­rage

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