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Macau Legend land transfer deal in Cambodia fails deadline

Macau Legend Development Limited that the transfer and ownership registration of several land parcels it acquired in Cambodia has not been completed within the expected deadline.

In December 2018 the company acquired the entire issued share capital of Howing Enterprises Co. Ltd. from a man named Wang Jieman for US$90 million (HK$697.8 million), with Howing being a company incorporated in Cambodia and holding several parcels of land totalling 1,200 hectares in Siem Reap.

Macau legend intended to build an integrated resort in the area, however, the completion of the acquisition had been delayed until June 26 of this year due to the Covid-19 pandemic.

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