CapitaLand Limited, a company headquartered and listed in Singapore, has established an indirect wholly owned subsidiary in the British Virgin Islands. On October 16 the company made an announcement on the incorporation of Wealthy Victory Investments Ltd. in BVI. Principal activity of the BVI subsidiary is investment holding.
The issued and paid-up share capital of the company is US$1, comprising one share. The company informed that announced transaction is not expected to have any material impact on the profit of the CapitaLand Group for the financial year ending 31 December 2009. Also, the company informed that none of the directors or the controlling shareholder of CapitaLand has any interest, direct or indirect, in the transaction.
CapitaLand is one of Asia’s largest real estate companies, its businesses concentrated in the cities in Europe, Asia Pacific and the countries of Gulf Cooperation Council (GCC). The company is involved in developing real estate financial products and services in Singapore and the region.