Hanwha Investment & Securities will open a local subsidiary in Singapore and make alternative investments, including real estate in Singapore.
An official at Hanwha Securities said, "We are preparing to open a Singaporean corporation with the aim of making full-fledged investments in January next year," the MK reported on Oct. 28.
Just as Hanwha Asset Management, a subsidiary of Hanwha Group, already operates the Singaporean entity as an organization dedicated to alternative investment in Asia and Australia, the Hanwha Securities' corporation in Singapore will focus on alternative investment in the Southeast Asian market.
"Singapore is a market where we cannot expect a sharp rise in prices or return on investment, as the government manages the real estate market, but we have decided to look for investment opportunities there, especially since Singapore's value is expected to rise further after the Hong Kong crisis," a Hanwha Securities official said.
Hanwha Securities aims to secure such opportunities there as it has strengths in alternative investments such as social overhead capital (SOC) development and real estate project financing.
In particular, Hanwha Securities is also expecting a synergy effect at the group level as the Singaporean government is set to increase investment in floating photovoltaic water system. Hanwha Securities' IB headquarters has personnel specialized in developing renewable energy and SOC development.
Hanwha Securities also invested 5 billion won in CapBridge Holdings PTE, LTD. last month to take over the stake. The group is a Singapore-based investment platform company that owns CapBridge and 1Exchange as its subsidiaries.
CapBridge is a platform company that raises new funds, while 1Exchange is the only private stock exchange that has obtained a license from Singapore's financial authorities.