illustration of the structure of the Hotel Fund Limited
GAIA has a Equity Investment in the Hotel Fund Under Giant Management Corporation Limited -A Fully Owned Subsidiary of First Asia Holdings Limited.
This fund allows us to have an ownership of the building called First Asia Tower, which allows us to have a share in the rental yield of 3% p.a. as well as to have an opportunity to tap into finance business in Hong Kong through First Asia Finance Limited, a fully owned subsidiary of First Asia Holdings Limited.
First Asia Tower is fully paid up and 100% fully tenanted. The current valuation is more than USD48,000,000. It is being planned to be converted to hotel by 2017 which will be then worth an estimated value of at least USD100,000,000