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Peggy Sito

Sino Tech Group is to team up with a Taiwan-based venture-capital company to invest in high-technology firms in Greater China.

 The venture would be equally owned by the Fortune Venture Investment Group, said Sino Tech president and chief executive James Liu Juh.

 It planned to raise US$60 million from investors through its first investment fund foraying into hi-tech companies, according to Mr Liu.

 The investment target would be medium-sized hi-tech firms with healthy fundamentals and growth potential, said Mr Liu.

 The venture, to be called Fortune Sino Capital, will arrange a roadshow next month to raise money through a private share sale.

 Mr Liu said the joint venture would set up more funds for investments in the future.

 The move is part of the latest investment plans by Sino Tech, which is a Sino Land subsidiary.

 Sino Tech had earlier unveiled plans to form a HK$3 billion capital-venture company to invest in telecommunications and Internet companies.

 Each investment was said to range from US$2 million to US$5 million.

 Fortune Venture Investment Group is a venture-capital firm managing funds in hi-tech and bio-technology companies.

 This year, the Taiwanese company plans to manage about US$500 million in total funds and wants to expand globally.

  Mr Liu said apart from the venture-capital unit, Sino Tech also planned to expand its business by investing in hi-tech start-ups and turning Sino Land's Hong Kong properties into 'intelligent buildings'.

 The company was also looking at listing in Hong Kong this summer, he said.

 Last month, Sino Tech and Orchard Parade announced they would each hold a 15 per cent stake in a Singapore-based IT solutions provider and software developer SQL View.

 The deal was aimed to strengthen its Web-based knowledge management technology.

 Through the alliance with Singapore-based Orchard Parade Holdings, the company hopes to be a major player in incubating information-technology businesses in the region.

 Orchard Parade is a Singapore-listed vehicle of Far East Organisation, which is also controlled by the family of Sino Land chairman Robert Ng Chee Siong.



Sino Tech branches into Internet fund investment