Vanke withdraws from joint venture with Singaporean state-owned company.

According to Tianyancha App, recently, Shanghai Wanshi Real Estate Co., Ltd. has undergone a change in its business registration. The original shareholder Vanke A has withdrawn, and at the same time, the registered capital has decreased from approximately 1.64 billion RMB to approximately 1.48 billion RMB. Shanghai Wanshi Real Estate Co., Ltd. was established in December 2011, with Yeo Wei Yu, Eugene as its legal representative. Its business scope includes real estate development, construction, leasing, and sales in Block 03 of Phase 1 of the core area of Shanghai Hongqiao Business District. It is now wholly owned by Reco Nanshan Private Limited, which has a background of investment from the Singapore government.