Metro Holdings: for a 50 per cent stake in Xiamen CICC Qihang Equity Investment Partnership, or CICC Qihang Fund in short. The property fund has a fund size of 400 million yuan, and was set up by CICC Capital, the private equity arm of China International Capital Corporation . In turn, CICC Qihang Fund has formed a 50:50 joint venture with Xiamen ARA Qihang Equity Investment Fund, which is managed by ARA Asset Management.
Banyan Tree shares closed at S$0.54, down 0.92 per cent or 0.5 Singapore cent, on Wednesday before the release of its results. Group revenue also fell 17 per cent year on year to S$81.2 million., up 3.9 per cent from the same period a year earlier. The results exclude its de-consolidated consumer products unit Xinfei, which ceased to be a subsidiary on May 21 last year. Xinfei had posted a net loss of S$17.2 million for the first quarter last year. Earnings per share was 1.
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