Dubai investment firm signs China JV deal

CHINA VENTURE: Amara Holdings has signed a major joint venture to identify Shariah-compliant investments in China. (Getty Images)

Amara Holdings, a Dubai investment firm, announced on Wednesday it had signed a major equity joint venture agreement with a Chinese investment company.

Under the deal, known as a Sino-foreign joint venture, with New China Trust Company’s subsidiary, Shanghai Ding Hai Investment Management Company, both firms will identify and evaluate Islamic finance investment opportunities in China for themselves and co-investors and clients, Amara said in a release.

“The current market environment presents us with unprecedented opportunities to invest in China at very attractive valuations,” said Dr Musab Jassim, executive chairman, Amara Holdings.

The company’s strategy was to focus on sectors fundamental to the domestic economy and growth of China and providing the best possible return to its investors, he added.

Amara had knowledge of Shariah finance and experience in successfully executing complex Shariah-compliant deals in China and elsewhere, the firm said.

New China Trust, which manages assets in excess of $4bn, last year arranged more than $3.3bn in corporate financing for major Chinese conglomerates.

Weng Xian Ding, chairman of New China Trust Company, said Amara’s GCC client and investor base would help New China Trust further its strategy of building strong relationships in the region.

Launched in October last year, Amara’s strategy involved investing in pre-initial public offering, private equity and private placement opportunities mainly in China and the Middle East North Africa region on behalf of GCC investors, according to the company.

Agriculture, consumer staples and utilities were the focus of the firm’s investment strategy, which was designed to weather market cycles by investing in sectors key to domestic economic growth, Amara said.

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