Newsroom
21 Dec 2016
Reuters : BRIEF-Amcorp Properties says unit Amcorp Orient entered into an agreement with Grosvenor Asia Pacific
 
BRIEF-Amcorp Properties says unit Amcorp Orient entered into an agreement with Grosvenor Asia Pacific
FINANCIALS | Wed Dec 21, 2016 | 4:52am EST 

Dec 21 Amcorp Properties Bhd -

* Unit Amcorp Orient entered into a co-investment agreement with Grosvenor Asia Pacific to form a jv

* Amcorp orient to contribute an aggregate of hkd349.1 million to the jv co

* Jv co for the purpose of investing in a portfolio of value-add as well as redevelopment and development projects

* The co-invest is expected to contribute positively to the future earnings and growth of amprop group.

* Co-Invest is not expected to have a material effect on eps of Amprop Group for financial year ending 31 march 2017

* Capital commitment of Amcorp Orient will be funded by advances from AMPROP by way of internal funds of AMPROP and bank borrowings