The time is changing very fast and hence it’s the most opportune time to do something new. Well, both Sharelink Financial Services Group (SFS) and Kuwait Finance House Asset Management Sdn Bhd (KFHAM) have geared up and the combined force of the two has launched a shipping venture. It has been learnt that the venture that aims to raise 150 million dollars of investment for modern vessels. It is to be noted that Global Shipping Investments Management Ltd, jointly owned by SFS and KFHAM, will invest precisely in shipping assets in the seven-year fund with up to three additional one-year extensions.
“The fund will particularly target high-quality and modern vessels with a preference for offshore ships such as Offshore Supply Vessels and Platform Supply Vessels,” said KFHAM Chairman, Khairil Anuar Abdullah in a statement. The venture will be supplemented by Shariah, or Islamic law, compliant financing with all investments requiring approval of the Fund’s Shariah Committee.
Speaking on the development, Philip Larkos, SFS Group Vice-Chairman and CFO, stated, “We believe that our launch timing and opening of the investment period in 2010 will be good due to the mismatch between market price and the fair value of vessels at the time of acquisition.”
Let’s have some info on both SFS and KFHAM. Nicosia-listed SFS (www.sfsnet.com) was established in 1988 and operates in financial services, capital markets, alternative investments, real estate, private equity and venture capital.
On the other hand, KFHAM (www.kfhonline.com.my) is a wholly-owned subsidiary of Kuwait Finance House Malaysia Berhad and acts as a platform for the Kuwait-listed KFH Group’s fund management activities.
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