Herons taking 20% stake in property development JV

HERONS Investment Ltd is taking a 20 per cent stake in Sino-Singapore KAP Construction (SSKAP), a China-incorporated property development joint venture now equally owned by two entities with links to some Singapore-listed companies. Under the new structure, Beijing Jin Hua Tong Da Real Estate Development (BJJHTD) and KAP Holdings (China) will each see their 50 per cent holding trimmed to 40 per cent.

SSKAP will increase its registered capital from 360 million yuan (S$72.1 million) to 450 million yuan, with the additional capital to be pumped in entirely by Herons.

BJJHTD is a 45-per-cent-owned associate of KSH Holdings. Among KAP's owners are Oxley Holdings, Lian Beng Group and Heeton Holdings.