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China Investments Holdings Ltd's subsidiary announces formation of joint venture


Friday, 17 Jan 2014 09:11am EST 

China Investments Holdings Ltd:Says on Jan. 17, CIH Finance, a wholly-owned subsidiary of the company, entered into the JV Documentation with Guangdong Tech-Finance, Guangdong Qunxing and Centenio Group company for the establishment of the JV company to engage in finance leasing business in Guangdong, the PRC.Says initial registered capital of the JV company will be 620,000,000 Yuan and it will be contributed as to 35 pct by Guangdong Tech-Finance, 25 pct by CIH Finance, 20 pct by Guangdong Qunxing and 20 pct by Centenio Group company.Says 217,000,000 Yuan, representing 35 pct of the total registered capital, by Guangdong Tech-Finance, 155,000,000 Yuan, representing 25 pct of the total registered capital, by CIH Finance, which will be financed by the internal resources of the Group and/or bank financing;.Says 124,000,000 Yuan, representing 20 pct of the total registered capital, by Guangdong Qunxing; and 124,000,000 Yuan, representing 20 pct of the total registered capital, by Centenio Group company. 

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19 Dec 2014