Hang Seng-listed Golden Meditech has taken a 50% stake in Japanese real estate management company ASA for ¥425 million (US$3.7 million). Magnum Opus, which is owned by Kam Yuen, Golden Meditech’s chairman and controlling shareholder, holds the remaining 50%.
The principal business activities of ASA are provision of real estate asset management, investment consultancy and property arrangement services (including trust agreement and financial instrument services) with various licences and permits in wealth management. ASA manages offices, residences, commercial facilities, hotels and healthcare houses.
In a statement the group said that the acquisition will broaden the revenue base of the group and provide an opportunity for the group to diversify its business scope into different geographical areas and industries.