CapitaLand forms subsidiary

Property group CapitaLand on Wednesday said that it has formed a subsidiary, Storhub Songjiang (Shanghai) Co., Ltd, incorporated in the People’s Republic of China, as part of its ongoing business development.

The principal activity of the subsidiary is property holding and its registered capital is about S$9.36 million.

StorHub Songjiang (Shanghai) Co., is a wholly-owned subsidiary of StorHub Holding Pte. Ltd. in which CapitaLand has a 62 per cent interest.

The establishment of the subsidiary 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 31 December 2011.

Source : Channel NewsAsia – 6 Jul 2011

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