Wing Tai sets up new fund management unit

SINGAPORE - Developer Wing Tai Holdings has set up a new fund management unit to invest in the Asia-Pacific region.

"The current market offers opportunities for investments, especially for investors with a medium- to long-term horizon and for institutional investors who are increasing their allocation to real estate," said Wing Tai chairman and managing director Cheng Wai Keung in a press release on Monday.

Mr Chua Choy Soon has been appointed managing director of the unit and he is responsible for developing the fund and managing its investment activities, Wing Tai said.

"We have been monitoring the market and are considering several options," said Mr Chua, in response to media queries on the immediate or planned activities of WT Fund Management.

"We are connecting with our global investors and, at the right time, we shall invest in selective valuable assets."

Mr Chua has more than 20 years of experience in real estate investment and was previously with SEB Investment GmbH and GIC Real Estate.

Until recently, he has built up a portfolio of diversified real estate assets across Asia Pacific worth more than S$3 billion, on behalf of mainly European institutional investors.

He holds a Bachelor of Engineering degree from the Technical University of Hamburg.