ARA Asset Management to further delay China reit, posts 2% growth in Q3 profit: "Asset manager ARA Asset Management will likely delay any potential listing of a real estate investment trust in China for at least 12 months from now, group chief executive officer John Lim said on Tuesday.
He told a results briefing over the phone that market conditions were not right yet and noted that ARA would generally focus on continuing to grow its existing reits to capitalise on economies of scale rather than set up new reits.
However, he added that if ARA were to set up any new reits it could be in other countries such as China, Korea, Australia or Japan.
Mr Lim's remarks came as ARA posted a 2 per cent rise in third-quarter net profit to $20 million year-on-year."
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