CIL Holdings Limited (SEHK:479) entered into a non-legally binding memorandum of understanding (MOU) to acquire Rui Hua Properties Development Limited from Ko Wing Fai Wilfred for approximately CNY 100 million on November 20, 2017. Pursuant to the MOU, CIL Holdings shall deposit within five days, a refundable deposit in the amount equivalent to CNY 4.2 million. The transaction is subject to definitive agreement. On January 23, 2018, CIL Holdings Limited and Ko Wing Fai Wilfred entered into a supplemental memorandum of understanding pursuant to which they agreed to extend the 60 days’ period from the date of the MOU for entering into the definitive agreement to March 31, 2018. As of March 29, 2018, CIL Holdings Limited is still in progress of conducting due diligence review of Rui Hua Properties Development Limited, while CIL Holdings Limited and Ko Wing Fai Wilfred further extend the definitive agreement to May 31, 2018.