A new era for Sol-Plaza
“I will be a genuine partner as I’m committed to help the men, women and youths involving in rugby and I remained firm to that commitment,” those were the words of Chinese investor Zong Wu Zhou.
Zhou who now will be a major shareholder in China United (SI) Corporation is a relieved man after a final judgement was made on July 3rd 2017.
Not only has the High Court made the final judgement but the outcome is in favor of Zhou who is the major shareholder of Austree Enterprise Pty Ltd, the company that the court had ordered to be lawfully eligible to acquire 90 percent of shares in the China United Corporation Ltd.
China United Co. Ltd is the company that entered into an agreement with Solomon Islands Rugby Union Federation (SIRUF) to build the rugby stadium and shopping complex now known as Solplaza at Townground.
The quiet and soft spoken Chinese investor said the High Court’s judgement is indeed a relief but it also shows the robustness and effectiveness of the delivery of justice in the country.
“It was a complex case but in the end it is resolved with all the relevant laws exhausted, I praised the high court for all the effort it put together to reach the final decision,” Zhou said.
Zhou added that as an investor he respected the laws of the country and he is genuine in wanting to invest his resources here for the betterment of the people of Solomon Islands.
“I respect the laws of this country and I want to genuinely contribute to the development of rugby and the overall wellbeing of the country,” the Chinese investor said.
“For all these years Austree Ent. Pty Ltd was not able to monitor the progress of Solplaza because our rights were wrongfully deprived through our removal of shares from China United,” Zhou pointed out.
“We were powerless to monitor the progress of the state of the building and ensuring quality work was done,” the Chinese investor said.
Zhou said with the judgement now being made, we will work closely with current tenants and appropriate authorities to improve the current state of the plaza.
“We will ensure that all building regulations are complied with to make Solplaza not only a safe complex for people but it becomes a model business for other investors having interest to invest here,” Zhou said.
Zhou also reiterated that even after seven years of legal battle, China United will ensure it works in partnership with SIRUF to gradually achieve what is expected of both parties with regards to fully complete the rugby stadium.
Austree is poised to takeover ownership of China United subject to defendant shareholders’ compliance with Court Orders issued on 11th July 2017.
According to Zhou, the deadline for compliance is close of business on Wednesday 19th July 2017.
– Austree Press Release