Gold-Face buys suite

GOLD-FACE Holdings' subsidiary Gold-Face Enterprises has signed an agreement to buy a Kowloon office suite from Anglo American Traders for $24.7 million.

The third floor suite in Lippo Sun Plaza at the corner of Canton and Peking roads has a gross floor area of about 3,271 square feet.

Gold-Face Enterprises has paid a deposit of $7.41 million and will pay the balance by September 30.

Gold-Face, which will finance 30 per cent of the purchase of the property from internal resources and the balance by bank borrowings, intends to earn income from rental.