Kerry Properties Limited Press Statement -- In Response To Market Rumours
HONG KONG, Nov. 18 /PRNewswire-FirstCall-AsiaNet/ --
It has been brought to the attention of Kerry Properties Limited (Pink
Sheets: KRYPY; HKEx: 683, the "Company") that there have been recent market
rumours alleging the Company has suffered financial losses as a result of
engagement in speculative derivatives or structured product transactions.
The Company categorically states that the above-mentioned market rumours are
both untrue and unfounded. The Company also confirms that it is not involved in
any kind of speculative derivatives or structured product transactions.
The Company's use of interest rate and currency swaps (as described on page
39 of the 2007 Annual Report) is intended solely to hedge the Company's
borrowings during its normal course of business. These contracts have immaterial
impact to the financial position of the Company.
For further enquiries, please contact:
Kerry Properties Limited
Michelle Lam
General Manager -- Communication
Tel: +852-2967-2323
Ivy Cheung
Senior Communication Executive
Tel: +852-2967-2382
Email: communication@kerryprops.com
SOURCE Kerry Properties Limited
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