Pursuant to the EGM, Boustead Projects has completed an initial subscription in BIF via its wholly-owned subsidiary BP-Real Estate Investment and now holds a 25% stake in BIF through the subscription of units and notes issued.
Boustead Projects has completed transactions related to the establishment of Boustead Industrial Fund (BIF), a private business trust for the purposes of holding and managing Boustead Project’s real estate assets.
Following its initial announcement of the proposed fund on Dec 31, 2020, Boustead Projects obtained unanimous shareholder approval for the setup of the fund via an extraordinary general meeting (EGM) held on Feb 25.
