As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Click to email CW8888 or Email ID :

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down

Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Monday, 18 July 2011

Capitaland sells building in Beijing for S$205.8m


CapitaLand Limited said on Monday that it has sold a 21-storey building with 310 apartment units known as Ascott Beijing in China for S$205.8 million in cash.

'The divestment is consistent with CapitaLand's active capital management,' the property group said in a statement.

CapitaLand's subsidiary, Ascott Investments Pte Ltd (AIPL) has sold its entire stake in Hemliner Pte Ltd (HPL) to Splendid Wealth Group Ltd, which is a subsidiary of Ascott Serviced Residence (China) Fund (ASRCF).

ASRCF is a private equity real estate fund investing primarily in China. CapitaLand has a 36.1 per cent interest in ASRCF.

HPL owns 100 per cent of the registered capital in Hemliner (Beijing) Real Estate Co, Ltd (Hemliner).

The sole asset of Hemliner is the property, located in the prime district of Beijing, China.

CapitaLand's total carrying value of its investments in HPL as at 31 May 2011 was S$80.5 million.

Following the completion, HPL and Hemliner have ceased to be wholly-owned subsidiaries of CapitaLand. CapitaLand will have an interest of 36.1 per cent in Ascott Beijing through ASCRF.

No comments:

Post a comment

Related Posts with Thumbnails