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German Ocean Invest, an investment and consulting company with its business focus on international maritime assets, today (June 9) officially announced the launch of a comprehensive range of services through its headquarters in Hong Kong.
German Ocean Invest is the first company in Asia with a direct link to the German KG market (KG being an abbreviation of a German term "Kommanditgesellschaft" denoting an investment structure of limited private partnership in closed-end funds). Backed by German fund house the Wölbern Group, German Ocean Invest targets Hong Kong and Mainland-based ship-owners and provides clients with investment services in maritime assets including tankers, container ships and bulkers, containers and other private equity investment solutions. The Hong Kong headquarters is also responsible for business activities in Mainland China, Taiwan and Singapore.
Explaining why the company chose to establish their business presence in Hong Kong, the Managing Director of German Ocean Invest, Dr Luo Min, said, "When raising capital from German KG funds to finance projects in maritime assets and other private equity investment in Asia, taxation is one of the major factors to be considered. Hong Kong is enjoying much advantage from its bilateral agreement on double taxation relief with Germany in shipping and aviation business. This has not only facilitated our business expansion into Asia, but also granted us extra benefits from taxation."
Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Charles Ng, welcomed German Ocean Invest's establishment of its headquarters here. He said, "The presence of German Ocean Invest in our city provides the local market with a link to the German KG market and complements the existing variety of financial services provided by the industry. I wish the company every success in its business growth in Hong Kong and the rest of the region."
Commenting on the company's future business expansion plan, Dr Luo shared, "Geographically, Hong Kong is right at the doorstep of Mainland China, which is regarded as the world's most dynamic market offering investment opportunities with potential for high returns. Hong Kong will undoubtedly continue to serve as an effective gateway to the promising Mainland market."
Mr Ng encouraged German Ocean Invest to make the most of Hong Kong's strategic location and well-established ties with the Mainland to benefit its continued development and expansion in this dynamic region.
About German Ocean Invest
German Ocean Invest is a Hong Kong-based investment and consulting company focusing on international maritime assets. The company was established in 2008 and is backed by the German Wölbern Group. Since 1993, Wölbern Invest AG has invested the equivalent of 3.3 billion Euro in 87 funds. For more information, please visit www.german-ocean-invest.com .
About Invest Hong Kong
Invest Hong Kong is the award-winning department of the Hong Kong Special Administrative Region Government responsible for attracting and facilitating inward investment into the city, by providing free services and support to help overseas, Mainland and Taiwanese companies establish or expand their business presence in Hong Kong. For more information, please visit www.InvestHK.gov.hk .
Ends/Tuesday, June 9, 2009
Issued at HKT 11:01
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