Perennial China Retail Trust Management sets up Perennial Real Estate Holdings

Perennial China Retail Trust Management, the manager of Perennial China Retail Trust (PCRT), says CEO Pua Seck Guan has agreed with director Kuok Khoon Hong and other parties to establish Perennial Real Estate Holdings (PREHPL), a joint-investment vehicle with a target capital size of $500 million.

Pua has an interest of 20% and Mr Kuok an interest of 49.5% in PREHPL. The remaining interest in PREHPL is held by other investors, including Martua Sitorus, a substantial unitholder in PCRT.