CapitaLand boosts credit limit allocation in China units to S$10b

Deal is already sealed.

According to a release, CapitaLand Limited announced that it has entered into strategic co-operation agreements with Agricultural Bank of China (ABC), Bank of China (BOC), China Construction Bank (CCB) and Industrial and Commercial Bank of China (ICBC) to grant a credit limit allocation of up to RMB50 billion (about S$10 billion) to CapitaLand Group’s China businesses.

The allocations would enable CapitaLand and the banks to enter into definitive agreements to draw on the credit limit, if required, subject to terms and conditions to be mutually agreed.

Mr Liew Mun Leong, President & CEO of CapitaLand Group said: “We are very pleased with the strong support that we are getting from the four Chinese banks. The strategic co-operation agreements with a credit allocation of up to RMB50 billion will provide funding for the Group’s growth plans in the residential, commercial, retail, serviced residence, integrated developments and financial services sectors across China.”

Over the years, CapitaLand has grown into one of the top foreign real estate companies in China with a diversified portfolio comprising homes, offices, shopping malls, serviced residences and mixed developments. As at 30 September 2012, 38% of CapitaLand’s total assets (excluding treasury cash) amounting to S$13.0 billion are in China.

Since January 2012, CapitaLand has committed S$3.0 billion of new investments. Singapore and China account for the bulk of the new investments.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit