Frasers' Sing He Xiang participates in $337m joint venture

It will also enter a loan agreement worth $210.6m.

Frasers Property Limited and its subsidiaries announced Sing He Xiang Management Consultancy (SHX), an indirect wholly-owned subsidiary of the company, has entered into a strategic alliance framework agreement with a joint venture partner.

Under the framework agreement, SHX will be providing funding of approximately $337m (RMB1.6b) towards the costs to be paid concerning the proposed investment.

In addition, SHX will enter into a loan agreement with another joint venture partner and extend an interest-bearing bridging loan of approximately $210.6m (RMB1b ).

The provision of the proposed SHX investment amount towards the proposed investment would enable the group to form a strategic alliance with the partners and potentially jointly participate in other investment opportunities in the future.