(EQS-News / 27/05/2015 / 19:21 UTC+8)
[For immediate release]
//
China New Town partners with National IC Industry Fund,
a hundred billion national fund
to bring in Industrial Park Projects
Its project portfolio is expected to be profoundly diversified via the
cooperation
(Hong Kong and Singapore, 27 May 2015) - China New Town Development Company
Limited - the future blueprint planner and leading developer of integrated
new towns in China (the "Company", "CNTD", the "Group"; HKSE: 1278.HK; SGX:
D4N.SI), is pleased to announce that the Company has entered into the
Strategic Cooperation Framework Agreement (the "Agreement") with Sino IC
Capital Management Company Limited ("Sino IC Capital").
Founded under the leadership of China Development Bank Capital Corporation
Limited ("CDB Capital"), the Company's controlling shareholder, Sino IC
Capital is the sole manager of the National Integrated Circuit Industry
Investment Fund Ltd. ("National IC Industry Fund" or the "Fund"). As an
industrial investment fund with state-level support, National IC Industry
Fund was co-founded by CDB Capital, China National Tobacco Corporation,
China Mobile Communications Corporation, etc., with fund under management
designated at over RMB 120 billion. The goal of the Fund is to attract
social capital and technology for the investment and development of the
integrated circuit industry, closely following the national policies.
Pursuant to the Agreement, the mutual cooperation between CNTD and Sino IC
Capital will be mainly dedicated to the intersectional value chains of the
integrated circuit industry and township development, on six aspects namely
business development, construction of new industrial parks, industrial park
transformation, integrated services, strategic alliance, preferential
project allocation, so as to build long-term partnership with which the
mutual strategic complementarities and synergies will be fully leveraged.
The Fund will preferentially use CNTD as the industrial park developer and
integrated service provider for ancillary facilities construction, property
development, operations and investment sourcing of its investee industrial
parks. To fully utilize its excellent network, Sino IC Capital shall
introduce the Company to the local government partners and main players in
the integrated circuit industry, so as to help the Company explore
diversified profit models in the fields of construction and engineering,
ultimately strengthening the Company's own project sourcing capabilities
through the relationship network with local governments and leading
industry players. CNTD will fully utilize its strategic resources and
industry experience to provide one-stop commercial service solutions for
the industry park initiated by the Fund.
As business opportunities arisen from the hundred-billion investments
emerge throughout the entire country, the framework agreement is expected
to embody an impetus to the Group's project pipeline. The spokesman of CNTD
comments, "The cooperation with the national fund would not have been
reached without the vigorous support of our controlling shareholder, CDB
Capital. CDB Capital is currently one of the largest investment institutes
in China with its investment spanning across strategic sectors supported by
national policies, such as urbanization, alternative energy and high-tech
industries. CDB Capital has entrusted the Company with its systematic
advantages for the expansion of its project portfolio. The strategic
cooperation is a solid proof which reflects CDB Capital's commitment in the
Company and also a solid evidence of the synergies and growth opportunities
brought by CDB Capital's core business of investments and the Company's
core business of township."
"There are large amount of opportunities for collaboration between National
IC Industry Fund and the Company on our core businesses, such as industry
park development and operation, auxiliary services and industry
integration. Capturing these opportunities will greatly benefit the Company
in terms of rapid growth in business scale, profitability and expansion of
business network. CNTD will stay fully committed to substantiating
cooperation at specific projects and exploring strategic opportunities with
CDB Capital in its other investment areas, so as to fulfil the recognition
our Controlling Shareholder entrusted to us."
-END-
About China New Town Development Co. Ltd.
(HKSE: 1278.HK; SGX: D4N.SI)
With its new town development founded in 2002, China New Town Development
Co. Ltd. was first listed on the SGX in 2007 and dual listed on HKSE in
2010. It is a company dedicated to planning and developing new town
projects in the PRC. Its actual controlling shareholder is China
Development Bank Capital Corporation Ltd. ("CDB Capital "). CDB Capital is
a wholly owned subsidiary of China Development Bank. Its establishment was
approved by the State Council. With a registered capital of RMB 47.6
billion, CDB Capital is a unique integrated investment platform covering
both domestic and offshore markets. Its investments cover areas the
strategic new model township developments, overseas investments, and funds.
Integrated new model township development is one of the core businesses of
CDB Capital. Through its unique business model, the Company forms joint
ventures with local governments to develop new town projects, and
participate in the full range of activities including master planning,
resident relocation and resettlement, land clearing and preparation,
construction of infrastructure and high quality ancillary facilities. It
also introduces quality brands and leading real estate developers into the
new towns it operates to enhance the long term value of the town and its
land resources. It then shares part of the value enhancement upon land
sales. Starting from 2002, the Company has been engaged in the development
of Shanghai Luodian New Town, Wuxi Hongshan New Town and Shenyang Lixiang
New Town. Among them, the Luodian New Town has entered maturity phase and
received international and domestic recognition for its innovative new town
design and execution. The Luodian New Town was granted the prestigious
status of "United Nations Development Program Pilot Town" by the United
Nations Development Program and "National Development and Reform Pilot
Small Town" by the National Development and Reform Commission (NDRC).
Recently, it was awarded the "EU Small Town Union - Representative Member
from Asian Pacific".
Enquiry
Hong Kong Singapore
Financial PR (HK) Limited Financial PR (Singapore) Limited
Hon Fung, Dawn Lee, and Canace Charlotte Fu, Zhang Yuchao, and Ngo Yit
Email:staff@financialpr.hk Sung
Tel: (852) 2610 0846 / 633 55 Email:staff@financialpr.sg
933 Tel: (65) 6438 2990
Fax: (852) 2610 0842 Fax: (65) 6438 0064
End of Press Release
+++++
Document: http://n.equitystory.com/c/fncls.ssp?u=CLPYKCGGVP
Document title: China New Town partners with National IC Industry
Fund, a hundred billion national fund to bring in Industrial Park
Projects Its project portfolio is expected to be profoundly
diversified via the cooperation
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