Imperium Crown reviews Japanese operations, explores potential divestment

SINGAPORE - Catalist-listed property investment firm Imperium Crown said Monday that it intends to explore a strategy to divest of its portfolio of Japanese properties and to concurrently explore new sources of revenue and growth.

Group executive chairman and chief executive officer Wan Jinn Woei said in a statement: "A review of the Japanese economic environment over the past few months has provided us with a view that the yields on real estate assets will continue to be low as the Japanese central bank continues to lower interest rates with the aim of spurring economic growth.

"As such, the board and management are of the view that the current portfolio of Japanese properties does not give us the most optimal return on capital deployed."

Imperium Crown added that it is in the process of making preliminary approaches to various parties in connection with the potential divestment and a capital reallocation exercise.