27 May '11, 3am

HK Tycoon Li Kashing firm buying malls in Malaysia: Petaling Jaya (The Star/ANN)

Petaling Jaya (The Star/ANN) - Singapore-based ARA Asset Management Ltd, which is linked to Hong Kong tycoon Li Kashing, is in different stages of negotiation to buy between five and 10 malls throughout Malaysia. Its CEO (ARA private funds) and director (corporate office) Ng Beng Tiong said its second Asia Dragon Fund has a fund size of US$1bil to buy Asian assets. Its first Asia Dragon Fund has a fund size of US$1.1bil. ADF is the flagship private real estate fund of ARA. ARA Asset Management is an affiliate of Hong Kong's Cheung Kong Group, which is controlled by Li. ARA was set up in 2002 when Li and its other founder, John Lim of Singapore, came together at a time when Cheung Kong was primarily a conglomerate focusing on buying and selling land for development. From a zero base, ARA currently has assets in Singapore, Hong Kong and China exceeding 44bil ringgit (US$14.5...

Full article: http://sg.news.yahoo.com/hk-tycoon-li-kashing-firm-buying...

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