CNQC International will benefit from the relaxation of Singapore's real estate policy

(Mar 14, 2017, Hong Kong) CNQC International Holdings Limited ("CNQC International," "the Company," together with its subsidiaries, collectively referred to as "the Group”, stock code: 1240.HK), a leading property developer and contractor in Singapore, is pleased to announce that the Singapore Government's real estate cooling measures have been relaxed. As a result, the Group's property development business will consolidate its leading position in the Singapore property market. 

On March 10, 2017, Ministry of National Development and the Ministry of Finance (Singapore) announced to relax the real estate cooling measures on the seller's stamp duty (“SSD”) and the Total Debt Servicing Ratio (“TDSR”) framework from March 11, 2017 (last Saturday). The Levy period of the SSD upon properties was reduced to a maximum of three years from the previous four years, and the SSD rates at all levels would decline by four percentage. For the property resold within one year, the SSD rate would drop from 16% to 12%. 

"The Group entered the Singapore market as early as 1999. It has been focusing on Singapore and spread businesses to Hong Kong, Macau and other Southeast Asian countries. Our Group is well versed in the development of real estate and construction industry in Singapore," said Mr. Cheng Wing On, Chairman of CNQC International. He suggested “it constitutes the core competitiveness of our Group as CNQC International has been one of Singapore's leading real estate developers. The relaxation of the Singapore property market policy is a positive signal to the real estate industry and is conducive to improving the business environment of the real estate industry. As a result, it will promote the Group’s property projects to buyers.” 

Since entering the Singapore real estate market in 1999, CNQC International has accumulated 18 years local expertise and been a mature property developer and builder with an excellent reputation. The Group is principally engaged in the development and sales of private condominiums, and Executive Condominium (“EC,” a public housing complex, and its major projects), such as Bellewaters Execute Condominiums, Ecopolitan Executive Condominium, Waterbay Executive Condominiums, Visionaire condominiums and Ning residential private apartments. At the same time, engaged in the construction business in Hong Kong and Macau, the Group is also actively responded to the call of China's national policy "one belt one road" to seek development opportunities in Southeast Asian countries such as Indonesia. 

In addition to the property development and construction business, the Group also moves to the lower reaches of the value chain through innovation and gets involved in the field of the smart home. In February 2015, the Group entered into a strategic cooperation agreement with Samsung Asia Limited to develop smart home technology in Singapore. It also signed a memorandum of cooperation with Singtel, Singapore's largest telecommunications company to collaborate on a smart home in February 2017. In August 2015, the Group officially launched the Smart Community mobile application software "HiLife" to facilitate residents to take care of their daily lives. Visionaire Project is the first smart home executive condominium in Singapore. Since its pre-sale in 2016, the sales have completed nearly 60%. In early March this year, the group launched another intelligent-home-technology implemented condominium project -iNz Residence. This project has several security-related intelligent facilities, such as an intelligent video intercom system, intelligent data locks. The sales amount to one-third of the total number of units. In particular, the intelligent home selection rate was as high as 82%. The market reacted enthusiastically, showing a great attraction for the local housing buyers upon the Group's smart home project.