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| Venture Capital Funds: End Of An Era |
| Wednesday, October 24, 2007 |
The real estate India sector has attracted investments from numerous quarters, including offshore jurisdictions. Offshore funds have led the pack of investors by utilising tax efficient structures spanning across jurisdictions. However, as a result of certain changes introduced in the Budget 2007, investors have been compelled to revisit their strategies related to structuring of investments in Indian realty sector. This article examines the impact of these fiscal changes in the long term structural strategy of funds.
Offshore funds used Indian venture capital funds ("VCF") as their India-based conduits to channel investments into Indian companies engaged in the business of real estate during the last two years. The choice of VCFs as entities for structuring the Indian end of investments was tax-efficient because of the benefit of a "pass-through" status available to VCFs under the Indian tax laws pre 2007. (Indian VCFs, whether existing or newly organized, who wish to avail of the tax benefits available to venture capital funds under the Indian Income Tax Act, must register with the SEBI under the VCF Regulations and comply with the SEBI Venture Capital Fund (Regulations), 1996. )
Source://mondaq.com |
posted by India Properties @ 4:14 AM  |
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| IHG Lines Up Large Asia/Pac Expansion |
| Friday, October 12, 2007 |
InterContinental Hotels Group today announced record company growth in the Asia/Pacific region this year, with 80 hotels signed in the past 12 months and brands entering several markets in which they previously had no presence.
Of the 80 hotels signed in the last year, more than two-thirds will be in China, Japan and India, according to IHG. About the same percentage will be new construction, while the rest will be conversions of existing properties.
Under the development plan, IHG's upscale brands InterContinental Hotels & Resorts and Crowne Plaza Hotels & Resorts will make their debuts in Melbourne and Adelaide, Australia; Hanoi and Ho Chi Minh City, Vietnam; and Hangzhou and Qingdao, China. Crowne Plaza also will launch six hotels in Japan later this year as part of a joint venture with ANA (BTN, Nov. 6, 2006).
Midprice Holiday Inn Hotels & Resorts, meanwhile, is focusing on its growth in India, and is adding hotels in Maldives, Bangalore and Pattaya, Thailand. The Holiday Inn Express brand launched a franchising program in China this year, and the brand also plans to introduce hotels in Singapore and Bangkok.
IHG also reports growing its offices in the Asia/Pacific region. It has introduced a training academy in Shanghai and has doubled the headcount at its corporate offices in Shanghai, Sydney, Singapore, New Delhi and Tokyo in the past two years.
Source://btnmag.com |
| posted by India Properties @ 12:16 AM |
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