CIMB, Trustcapital Advisors in JV

Posted on | October 21, 2009

By THE STAR


PETALING JAYA: CIMB Group Holdings Bhd has formed a joint-venture (JV) with Trustcapital Advisors Pte Ltd (TCA) to establish and manage a real estate fund investing in Australia.

In a filing with Bursa Malaysia yesterday, CIMB Group said wholly-owned subsidiary CIMB Real Estate Sdn Bhd (CIMB RE) and TCA would establish a 70:30 JV entity incorporated in Singapore with an issued and paid-up capital of S$960,000.

It said the fund would be called Australian Office Fund 1 (AOF 1).

CIMB said the JV company would be appointed investment advisor to AOF 1 on selection of investments, structuring, negotiations and monitoring of investments as well as designing and executing appropriate exit strategies

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