CMI sets up S'pore unit to invest in region

Singapore

ONE of the largest private investment firms in China has set up shop in Singapore, with an initial capital of US$1.5 billion that it aims to pump into companies in Southeast Asia and even North America in line with China's internationalisation drive.

China Minsheng Investment (CMI) Corp's Singapore unit CM International Holding, quietly established here "late last year", is also nearing the final stages of talks to invest in a Singapore company, CM International CEO Laurence Liao said at a press briefing on Wednesday at UOB Plaza 1's penthouse. He declined to elaborate, saying only to wait "two months".