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ARA Asset Management Ltd Announces Incorporation Of Wholly Owned Subsidiaries And Subscription Of Shares In AB Pacific Pty Ltd And ABK Pacific Retail Holdings Pty Ltd


Tuesday, 16 Jul 2013 06:23am EDT 

ARA Asset Management Ltd announced the incorporation of ARA Pacific Retail (Holdings) Pte. Ltd. and ARA Pacific Retail Limited as wholly-owned subsidiaries of the Company. ARA Pacific Retail (Holdings) Pte. Ltd. which is incorporated in Singapore, has a paid up capital of SGD1 and its principal business activity is investment holding. ARA Pacific Retail (Holdings) Pte. Ltd. holds 100.0% of the shareholding in ARA Pacific Retail Limited (ARA Pacific Retail), which is incorporated in the British Virgin Islands, and has a paid up capital of USD1 and its principal business activity is investment holding. ARA Pacific Retail together with JODA Holdings Pty Ltd has established AB Pacific Pty Ltd (AB Pacific) and will enter into a joint venture agreement in relation thereto. ARA Pacific Retail will own 57.14% of the total issued and paidup share capital of AB Pacific. The principal business of AB Pacific is investment holding. AB Pacific has entered into a separate joint venture agreement with KPG Investment Management Pty Ltd (which is part of the Kilcor Property Group, an Australian based privately owned real estate group) (the Joint Venture) to establish ABK Pacific Retail Holdings Pty Ltd (ABK Pacific), with AB Pacific holding 70.0% of the interest in ABK Pacific and KPG Investment Management Pty Ltd holding the other 30.0% interest. 

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24 Apr 2014