Imperium Crown incorporates China subsidiary

CATALIST-listed Imperium Crown has incorporated a subsidiary in China to lead the group's property development and property investment segments, the real estate firm announced in a regulatory filing on Monday night.

As its first project, the new subsidiary Fei County Yin Sheng Real Estate will develop two plots of land previously acquired in Wonder Stone Park, a tourist destination in Feixian county in Shangdong province. Imperium Crown said it would continuously review the property market for future opportunities.

Said executive director Sun Bowen: "The incorporation of Yin Sheng Real Estate demonstrates the company's commitment to be a real estate player. Leveraging on the improving market trends and upcoming developments around the Wonder Stone Park, we believe the company is well-positioned to capitalise on the opportunities in its role as a property developer."