CAPITALAND has started up an indirect wholly-owned subsidiary in China.
The new company, Beijing CapitaLand Pin Yuan Real Estate Development was established for RMB321 million.
The transaction is not expected to have any material impact on the net tangible assets or earnings per share of the CapitaLand Group for the financial year ending December 31 2007.
None of the directors or the controlling shareholder of CapitaLand has any interest, direct or indirect, in the new company.
Australian Property Journal
