CapitaLand subsidiary gets capital boost

The capital increase was by way of a cash injection of almost S$20 million.

CapitaLand Limited announced that its wholly-owned subsidiary, Guangzhou Kaiyao Real Estate Co., Ltd., has increased its registered capital from S$80 million to S$98 million.

The cash injection was by Guangzhou Kaiyao’s sole shareholder, CVH (China) Investment Two Pte. Ltd., a wholly-owned subsidiary of CapitaLand.

The China-incorporated Guangzhou Kaiyao owns a site in Panyu District, Guangzhou which will be developed into value homes.

CapitaLand said the additional capital will be used to fund the development and working capital requirements of Guangzhou Kaiyao.

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