BRIEF-Pokfulam Development updates on disposal of interest in a joint venture

March 6 (Reuters) - Pokfulam Development

* Vendor (an indirect wholly-owned subsidiary of company)

entered into agreement with purchaser

* Vendor has conditionally agreed to sell sale shares,

representing one-third of issued shares of joint venture

* Deal at aggregate consideration of an amount in hong kong

dollars equivalent to RMB184.3 million

* Company expects to record a net gain from transaction of

approximately HK$52 million

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