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HONG KONG, July 24, 2020 - (ACN Newswire) - Evergreen Products Group Limited intends to utilize the land owned by the Group in the northern part of Bangladesh to apply to the Government of Bangladesh for converting the land to a private economic zone (the "Economic Zone Project") and the Group will be the economic zone developer/operator ("the Economic Zone Developer/Operator").
Upon the application being approved by the Government of Bangladesh, the Group, being the Economic Zone Developer/Operator of the land, will be entitled to develop and operate the economic zone.
The Economic Zone shall be developed to international standards to attract the best in class companies/Economic Zone users to operate at the Economic Zone. Developer/Operator shall develop a complete masterplan for developing the Economic Zone comprising of elements such as but not limited to industrial plots, buildings, utilities, external areas, and common facilities, complying with internationally recognized codes, national codes, standards, practices in the development of the Economic Zone. Economic Zone users in the zone can be full exports oriented or pure play domestic market industry or a combination of both at the discretion of the users, and users can be involving in warehousing, assembly, manufacturing, further processing, or re-exporting with value addition.
The Board is of the view that the Economic Zone Project will provide a good opportunity for the Group to expand its revenue sources and hence will assist the Group in seeking financing and investment opportunities in the capital market, including but not limited to apply for listing the Economic Zone Project in Dhaka Stock Exchange Limited in Bangladesh, which are expected to benefit the Company and its shareholders as a whole.
About Evergreen Products Group Limited (1962.HK)
Evergreen Products Group Limited is an investment holding company. The Company and its subsidiaries are principally engaged in the manufacture and trading of hair products. The Company operates through three main segments. The Wigs, Hair Accessories and Others segment is mainly engaged in the sales of wigs and other hair accessories in the United States and Europe. The High-end Human Hair Extensions segment is primarily involved in the sales of high-end human hair extensions to hair salons across North America, Europe and Asia. The Halloween Products segment is mainly involved in the sales of wigs, hairpieces and costumes designed for parties and festivals.
For more information, please visit https://www.epfhk.com.
For investment/media enquiries, please contact:
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Topic: Press release summary
Source: Evergreen Products Group Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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