Imperium Crown to seek shareholders' nod to exit Japan property entirely

PROPERTY investment group Imperium Crown plans to sell all its properties in Japan and will convene an extraordinary general meeting to get the green light from shareholders, it said in a Singapore Exchange filing on Friday.

Its decision comes just two years after it entered the Japanese property market.

Its Japanese properties had a net fair value loss of S$16.5 million in its financial year ended June 30 this year, it said, blaming in part softer rents.