Strategic partnership targets Belt & Road projects
ASIA: A strategic partnership which aims to ‘identify and pursue cross-border corporate finance and investment opportunities’ linked to China’s Belt & Road Initiative has been announced by the Singapore-listed Sapphire Corp parent of Chinese urban rail construction company Ranken and the Singapore subsidiary of Hong Kong-based financial services group Haitong International Securities.
The companies will co-operate to exchange information about opportunities, and Haitong Singapore is to help Sapphire source investment.
‘Ranken is one of the leading private companies in the urban rail transit sector in China, with a good track record in project delivery and strong business fundamentals’, Sapphire CEO Wang Heng said on April 15. ‘Haitong Singapore can leverage its expertise in procuring partners and tapping funding to support Sapphire and Ranken, which we believe will benefit our growth.’