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| News Publications of the Grand Opening Ceremony |
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Foreign Equity Investment Fund Establishment in Chongqing - First Investment Amount of 5 Billion in Chongqing Tourism
Source: Chongqing Economic Times. June 22, 2011
http://www.cq.gov.cn/today%5Cnews/325229.htm
Author: Chen Ke |
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| Aktis (Chongqing) Investment Fund Management Co. Ltd. (Aktis Chongqing), one of the first foreign-owned equity investment funds held its grand opening on June 21, 2011. Aktis Chongqingˇ¦s first deal is an investment of 5 billion yuan in Chongqingˇ¦s tourism industry. |
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| The First Foreign-owned Equity Investment Fund Establishment in Chongqing |
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| The Aktis Group is an investment team formed in 2003 which conducts investment activities in the Asian region. The Aktis Group includes Aktis Capital Advisory Ltd. (Aktis Hong Kong), Aktis Capital Singapore Pte. Ltd. (Aktis Singapore), and Aktis Chongqing Investment Fund Management Co. Ltd. (Aktis Chongqing). The Aktis Group was founded by three banking and investments professionals, i.e. Danny Yee ˇV former Managing Director of Goldman Sachs & Co., Teik Seng Cheah ˇV former Managing Director of Paribas & BNP Paribas in Hong Kong, and Eric Slighton ˇV former Managing Director of Deutsche Bank in Hong Kong. |
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| As one of the first foreign-owned capital investment management company set up in Chongqing, Aktis Chongqing will absorb foreign capital by raising funds overseas. The fundraising spans the markets of the United States, Europe, Middle-East and the Asian-Pacific regions. |
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| At the grand opening, Danny Yee, in his opening remarks on Aktis Chongqing, stated that despite Aktis Chongqing's recent establishment in Chongqing, Aktis Group is very familiar with the Chongqing market. Since 2006, the Aktis Group has made investment in projects in Chongqing amounting to 1.3 billion yuan, which includes Chongqing Howard Johnson ITC Plaza Hotel, Chongqing Gangyu Guaranty Co. Ltd., and the Hui Jing Yuan real estate project. |
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| Investment of 5 Billion Yuan for Chongqing's Tourism Sector |
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| On the day of the grand opening ceremony, Aktis Chongqing signed a strategic cooperation agreement with Chongqing Financial Affairs Office (CQFAO) and Chongqing Tourism Bureau (CTB) on the establishment of Chongqing Tourism Development Equity Investment Fund. Danny Yee said the fund plans to raise 5 billion RMB overseas, and will invest primarily in tourism and in projects that develop supporting industries of tourism. |
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| ˇ§Our investment orientation is on government key projects and on developing state-encouraged industries, ˇ§said Danny Yee. Chongqing has abundant resources to develop tourism. In addition to that, the municipal government had put in great effort in developing tourism in the past two years. There are more and more tourists coming to Chongqing, which convinced Aktis of the prospects for Chongqing tourism. As a result, Aktis targeted the tourism industry as their first investment. According to preliminary plan, the fundraising of 5 billion RMB will be completed in 3 years. |
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| Prospects of the Chongqing Real Estate Industry |
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| Apart from investing in the tourism industry, the real estate industry is also a key investment area. On June 21, 2011, Aktis Chongqing signed strategic cooperation agreement with 12 Chongqing private-owned enterprises, including the Sincere Group, the Jinyu Group, Zhong An Real Estate etc. Aktis Chongqing strives to provide financing services to private-owned enterprises and small and medium-sized enterprises (SMEs), and aims also to assist these enterprises in overseas IPO. |
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| ˇ§We are a fund management company, so we hold more than one fund on hand,ˇ¨ said Ronny Shi ˇV General Manager of Aktis Chongqing. Apart from the tourism development equity investment fund of 5 billion RMB, Aktis also has on hand a 100 million USD Aktis Fund to provide services to SMEs, such as SMEs financing under the circumstance of monetary tightening. |
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| Among the 12 enterprises in Chongqing which signed strategic cooperation agreement with Aktis Chongqing, 6 of them are from the real estate industry. Ronny Shiˇ¦s response to this is that, there is a rigid demand for real estate in Chongqing, since urban development leads to resettlement. Therefore, real estate will be the second key sector in which Aktis Chongqing will invest in. Concurrently, in order to diversify risks, Aktis Chongqing will also selectively invest in small enterprises with a strong basis and a great capacity to grow, and nurture them to become listing companies. |
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AKTIS raises fund of 5 billion RMB - Plans to invest in Chongqing Tourism
Source: Chongqing Morning Post, June 22, 2011
http://cq.people.com.cn/news/2011622/201162295918.htm
Author: Xu Ju, Gao Chengyuan |
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| Aktis (Chongqing) Investment Fund Management Co. Ltd. (ˇ§Aktis Chongqingˇ¨), together with Chongqing Financial Affairs Office (ˇ§CQFAOˇ¨) and Chongqing Tourism Bureau (ˇ§CTBˇ¨) signed a strategic cooperation agreement June21, 2011. This is the first tourism development fund established in Chongqing. Within three years, Aktis Chongqing will raise foreign capital of RMB 5 billion to invest mainly in Chongqing Tourism and related industries. |
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| ˇ§When we came to Chongqing 5 years ago, we discovered the beautiful scenery of Chongqing and the city gave us a great impression. The establishment of this Chongqing Tourism Development Equity Investment Fund would support the efforts to develop Chongqingˇ¦s tourism and tourism-related industries.ˇ¨ said Teik Seng Cheah, Chairman of Aktis Chongqing. The tourism development fund will first develop government prioritized projects. Currently, there are four projects under arrangement, including scenic spots and reconstruction of existing facilities. |
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| The three principal shareholders of Aktis Chongqing all have sound experience in global investment banking. For instance, Teik Seng Cheah was Managing Director of Paribas & BNP Paribas in Hong Kong. Prior to being Managing Director and Chief Investment Officer of Aktis, Eric Slighton was the Managing Director of Deutsche Bank in Hong Kong. Aktis Group started investments in Chongqing back in 2006 and Aktis Chongqing is one of the 7 entities with Qualified Foreign Limited Partnerships status, in Chongqing. |
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| To date, Aktis Groupˇ¦s investment in Chongqing amounts to more than 1.3 billion RMB, with investment projects covering the finance, tourism and hotel sector. Mr. Cheah mentioned that Aktisˇ¦ investment focus is mainly loan financing, real estate and providing planning for overseas listing for small and medium enterprises (SMEs). ˇ§Real estate is only a part of our investment. We mainly target government relocation projects and real estate projects with robust demand, for example, affordable housing and public housing. Other than that, we may also invest in tourism-related commercial real estate,ˇ¨ Mr. Cheah stated. As of now, Aktis Group has developed a few affordable housings and is taking up matters with relevant government departments regarding public housing projects. |
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| Aktis Chongqing also signed strategic cooperation agreements with 12 private enterprises in Chongqing, including 5 Real Estate Enterprises, such as the Sincere Group, the Jinyu Group, and the Brothers Group, and SMEs such as the Lawrence Group and Zhong Da Zheng Construction Company. ˇ§We are very interested in SMEs that are influential and are of great potential within the industry.ˇ¨ |
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Aktis Invests 5 Billion Yuan to Promote Chongqing Tourism
Source: Chongqing Daily, June 22, 2011
http://cq.cqnews.net/html/2011-06/22/content_6884904.htm
Author: Xia Fan |
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| Chongqing Tourism attracted capital investment once again. Aktis (Chongqing) Investment Fund Management Co. Ltd. (ˇ§Aktis Chongqingˇ¨) held its grand opening ceremony on June 21, 2011, and signed strategic cooperation agreement with Chongqing Financial Affairs Office (ˇ§CQFAOˇ¨) and Chongqing Tourism Bureau (ˇ§CTBˇ¨) on the establishment of Chongqing Tourism Development Equity Investment Fund. The plan is to invest 5 billion yuan to develop Chongqing tourism and other tourism-related projects. |
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| As Vice Mayor of Chongqing Tan Xiwei said at the grand opening ceremony, the opening of Aktis Chongqing will greatly enhance Chongqing's tourism development; he hopes that the company and the local government will work together to promote the brand of Chongqing's tourism. |
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| Aktis Chongqing will raise foreign capital overseas, and primarily invests in government key projects and in other state-encouraged industries, including tourism, finance, government affordable housing, sightseeing agriculture and emerging industries. The Aktis Group has started investing in Chongqing since 2006, including the finance, tourism and hotel industry, with total investments amounting to 1.3 billion yuan. |
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