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Uni-Asia ties up with CPG's investment arm to jointly invest in Japan property project
MAINBOARD-LISTED investment firm Uni-Asia Holdings has tied up with the investment arm of CPG Corporation to jointly invest in a residential property project in Japan.
The total investment amount is 250 million yen (S$3.34 million), with Uni-Asia's share amounting to 50 million yen, Uni-Asia and CPG Investments said in a joint Singapore Exchange filing on Tuesday.
"Uni-Asia shall provide fee-based small residential property development and investment management services to this joint investment project, thereby contributing to the group's fee income," the duo said in a statement.
The project follows a memorandum of understanding entered between Uni-Asia and CPG Investments in April.
Uni-Asia, which describes itself as "an alternative investment company performing a variety of roles such as asset owner and manager, operator, co-investor, ship finance arranger, broker and fund manager", has invested in and developed a series of small residential property projects in Tokyo under the "Alero" brand.
CPG Investments, meanwhile, is a subsidiary of CPG Corporation, and undertakes the management of the firm's property and real estate portfolio in the fields of property development, asset investment and management.
"Uni-Asia's expertise in small residential property projects in Japan as well as its local knowledge and the well-established operational structure are key consideration factors for CPG Investments in establishing the partnership," the duo added.
Uni-Asia closed trading at S$1.01 on Tuesday, down two Singapore cents.