Listing a hindrance to its growth strategy: ARA

BEING listed hindered ARA Asset Management's growth strategy, group founder and chief executive officer John Lim said at the Asia Pacific Real Estate Association (APREA)'s AsiaPac Property Leaders Summit on Tuesday.

Asked during a panel discussion for his thoughts on how property investors' business strategies are evolving, Mr Lim said: "This question was asked during my privatisation shareholders' meeting. People were upset that we privatised, not because the price is not right, (but because) they think that they want to ride along with the growth of the organisation. They think that there is a lot of future in this, and I do agree."

He said that the group's assets under management have multiplied several folds to S$36 billion at the time of privatisation.

"Given the size of our AUM in Asia, being a listed company actually hindered our growth tremendously, especially for us to change strategy to be nimble, to be able to be flexible, to introduce products and to be able to invest across the globe.

"And we see so much capital coming out especially from China. China is a big market for us ... I still maintain I am a big bull on China market ... and I think Asia is a great opportunity for us that will continue to grow."