KSH Holdings’ indirect JVco amends business activities; increases share capital

SINGAPORE (Jan 6): KSH Holdings announced on Friday that its indirect 22.5% owned joint venture company, Sino-Singapore KAP Construction Co has amended the scope of its business activities.

Sino-Singapore added property management, carpark management, housing construction, road works construction, piping works, and sale of property and finishing and decoration materials to its original business activity of property development.

The company is a 50-50 joint venture between KSH’s 45%-owned associated company Beijing Hua Tong Da Real Estate Development Co (BJJHTD) and KAP Holdings China.

The latter is jointly owned by Oxley China, Prospere Development, Lian Beng China, Tee Property and Zap Investments. Oxley had the largest stake of 50% in KAP.

Sino-Singapore also changed its registered name in Chinese and increased its share capital from RMB 450 million (S$93.2 million) to RMB500 million, with KAP Holdings China and BJJHTD each contributing RMB25 million.

KSH’s share of the capital injection from BJJHTD will be funded internally.

Shares in KSH closed unchanged at 54 Singapore cents (RM1.68) on Friday. — theedgemarkets.com.sg