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| To Build an International Education Base |
HONG KONG, Apr 23, 2018 - (ACN Newswire) - Asia Allied Infrastructure Holdings Limited ("AAI" or the "Group") (stock code: 00711) has signed a letter of intent of strategic cooperation framework with Guangzhou Nansha Development Zone and Guangzhou Industrial Investment Fund Management Co., Ltd. ("Guangzhou Fund"). The three parties, reaching consensus on "bringing overseas resources to Nansha for setting up an industrial fund to promoting development of Nansha", will team up to develop education, medical and elderly services, as well as urban infrastructure in the Nansha Free Trade Zone, starting with building an education base.
Mr. Dominic Pang, Chairman of Board of AAI, said, "The strategic cooperation is the first joint development project after a Guangzhou Fund wholly-owned subsidiary, SFund International Investment Fund Management Limited (SFund International), became a strategic shareholder of the Group. Nansha, which is in the heart of the Guangdong-Hong Kong-Macao Big Bay Area, is a new state-level area and a pilot free trade zone, hence is eager to have urban infrastructure built and for plans to help it develop and pursue technological innovation. The Group will seize development opportunities and focus on promoting development of such areas as education, elderly services and housing. The cooperation will allow the Group to leverage the rich experiences and resources on the mainland of the Investment Promotion Bureau of Guangzhou Nansha Development Zone and Guangzhou Fund to gradually grow its business in mainland and also capture development opportunities in the Big Bay Area."
The three parties will combine strengths and, via setting up and using such financial tools as industrial fund, PE fund, M&A fund, etc., contribute to the construction and upgrade of including but not limited to projects in relation to education, healthcare, elderly services, urban infrastructure, planning and construction, technological innovation and start-up business in the Nansha New Area. The partners will start with setting up an education fund which purpose will be to promote modern and international education development that agrees with the education plan of the Nansha New Area. The Group intends to introduce world renowned education institutes into the area, and adopting advanced operational and management concepts, work together with its partners on studying and devising a relevant plan for building an international education base in Nansha.
Mr. Cai Chaolin, Municipal Committee Member of Guangzhou and Secretary of Nansha District, said, "The report of the 19th National Congress of the Communist Party of China pointed out the need to grant greater autonomy in reform to free trade zones for exploring the feasibility of building free trade ports and developing the Guangzhou-Hong Kong-Macau Big Bay Area, and that will present Nansha with new historical development opportunities. Against this backdrop, Guangzhou Fund and AAI will embark on strategic cooperation on all aspects with Nansha, which is an important and timely move to take to greater depth the cooperation between Guangzhou and Hong Kong."
Mr. Han Ying, Chairman of Guangzhou Fund, said, "Guangzhou Fund will use its ability in integrating core business and financial resources, attracting financial and social capital, utilizing varies financial tools, and marry them with its international operational experience and edges to establish a RMB10 to 30 billion industrial fund by its subsidiary SFund International and related companies for providing professional financial services to the cooperative project."
Guangzhou Industrial Investment Fund Management Co., Ltd.
Founded in 2013 and led and managed by the Guangzhou Municipal Government, Guangzhou Industrial Investment Fund Management Co., Ltd. is the first fund management company to obtain external AAA ranking in China, and also the first company in Guangdong Province to receive the highest ranking in the asset management category from Standard & Poor's and Fitch Group. It engages in such businesses as government fund management, private equity (PE) investment, venture capital (VC) and other finance platforms. Moreover, it has built a complete financial industrial chain that covers angel funds, VC investment, PRE-IPO, PIPE, M&A funds, urban development funds, government funds, Internet financing and fixed income, among other services. As at the end of 2017, it had contracted funds valued at RMB380 billion and actually managed funds worth RMB138 billion. SFUND International is the international investment and financing arm shrewd in innovation of Guangzhou Industrial Investment Fund Management Co., Ltd. and also a strategic shareholder holding 9.8% equity interests in AAI.
Asia Allied Infrastructure Holdings Limited (stock code: 00711.HK)
Asia Allied Infrastructure Holdings Limited ("AAI") is listed on the Main Board of the Hong Kong Stock Exchange under stock code 00711. It is engaged in various businesses including construction engineering and management, property development, security services and property management. With Hong Kong as its business development base, AAI is also exploring development opportunities with Asia as the main focus, as well as in overseas markets. Its subsidiary "Chun Wo" is a renowned construction contractor and property developer in Hong Kong, which enables AAI to capitalise on that company's solid construction experience and professional capabilities to seize the opportunities for infrastructure development in countries along the "Belt and Road" initiative, and, ultimately, to increase overall profitability and create higher investment value. For details, please refer to the company website: http://www.asiaalliedgroup.com
For press enquiries:
Strategic Financial Relations Limited
Joanne Lam (852) 2864 4816 joanne.lam@sprg.com.hk
Cindy Lung (852) 2864 4867 cindy.lung@sprg.com.hk
Isabel Kwok (852) 2864 4824 isabel.kwok@sprg.com.hk
Photo Caption:
(From left) Mr. Xie Xiaohui , Secretary of Investment and Trade Promotion Bureau of Guangzhou Nansha Development Zone; Mr. Shea Chun Lok, Chief Financial Officer of Asia Allied Infrastructure Holdings Limited; Ms. Ruan Xiaohong, Nansha District Government Deputy Governor; Mr. Dominic Pang, Chairman of the Board of Asia Allied Infrastructure Holdings Limited; Mr. Cai Chaolin, Municipal Committee Member of Guangzhou and Secretary of Nansha District; Mr. Han Ying, Chairman of Guangzhou Fund; Mr. Xie Ming, Deputy Chairman of the Management Committee of Nansha Development Zone (Free Trade Zone of Nansha District); Mr. Liu Zhijun , Deputy General Manager of Guangzhou Industrial Investment Fund Management Co., Ltd.
Topic: Press release summary
Source: Asia Allied Infrastructure Holdings Limited
Sectors: Daily Finance, Daily News, Construct, Engineering
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From the Asia Corporate News Network
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