Emperor International Holdings (0163) announced on Friday that it has formed a property asset investment fund to cover the group’s certain investment properties, which will then be held by the portfolio companies and ultimately owned by the group.
The group’s wholly-owned subsidiary, acting as the general partner, entered into the agreement with a limited partner. Emperor Asset Management Ltd, a wholly-owned subsidiary of Emperor Capital Group Ltd (0717), acts as the investment manager of the fund.
“The group believes such arrangement can reduce the overall operating costs and create synergies, and leverage the large and diversified client base of Emperor Capital Group to approach suitable investors,” a statement read.
Alex Yeung Ching-loong, Vice Chairman and Executive Director of Emperor International, said the formation of the property asset investment fund represents the group’s treasury strategic plan to explore new financing channel for its continuing business development.
Yeung added that the move also enables the group to capitalize on its rental income and unlocks its value in the new financing channel.
“The funding from limited partners onwards will allow the group to obtain immediate cash and enhance the cash flow, thus further strengthens the group’s financial position,” Yeung said.
Hong Kong United Times丨香港聯合時報丨HKUT 