FINANCIAL SERVICES | Staff Reporter, Singapore

CapitaLand establishes investment holding subsidiary

It also increased shares in its two other companies.

CapitaLand established Gold Ruby Pte Ltd, a new wholly owned subsidiary, in Singapore.

According to an announcement, Gold Ruby's principal activity focuses on investment holding. It has a share capital of $1 per share.

Meanwhile, the company has also increased shares in newly-established subsidiaries C31 Ventures and C31VFI by 3 million each.

The total cash consideration for each company is worth $3m.

According to an announcement, the equity injection will be used to fund capital requirements of the two companies.

Both are not expected to affect company performance for the financial year.

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