Core Viewpoint - Hongkong Land has signed an agreement to sell its residential development business MCL Land, focused on Singapore and Malaysia, to Sunway Group, with the transaction expected to be completed by the end of 2025 [2] Group 1: Transaction Details - The sale price for MCL Land is set at a net asset value of SGD 739 million (approximately USD 579 million), and the transaction will be settled in cash [2] - Following this transaction, Hongkong Land's total capital recovery since 2024 will increase to USD 2 billion, which represents 50% of the company's target to achieve at least USD 4 billion in capital recovery by the end of 2027 [2] Group 2: Company Background - MCL Land is a leading residential developer in Singapore and Malaysia, with over sixty years of experience in developing quality residential projects [2] - The management team of MCL Land will remain in place post-transaction, and all existing development projects will continue as scheduled [2]