What you need to know about the new JV Bayfront Land

The new real estate company is part of Aspial Corporation.

The Board of Directors of Aspial Corporation Limited announced that the company through its subsidiary World Class Land Pte Ltd has incorporated a joint venture company together with Fragrance Group Limited, with the name of Bayfront Land Pte Ltd.

Bayfront Land is principally engaged in real estate developments and has an initial paid up capital of S$1,000/-, in proportion of 500 ordinary shares in the name of WCL and 500 ordinary shares in the name of Fragrance.

This transaction is not expected to have any material impact on Aspial’s earnings and net tangible assets in FY2012.

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