Executive Summary
JSM Indochina Ltd is a newly incorporated closed-end Cayman Islands registered, exempted company created to engage (through subsidiaries and joint ventures) in property investment and development opportunities, located mainly in Indochina. Over the last three years, Mr Craig D. Jones, a director of the Company and an affiliate of JSM Capital Indochina Ltd. (\Manager\), has pursued acquisition of a portfolio of real estate assets identified in Indochina. Mr. Craig D. Jones has over 22 years of experience in real estate development, construction, finance and property management. Mr. Jones also has over 10 years of experience in Indochina, including pursuing the acquisition and development of the properties that constitute the portfolio of real estate assets identified in Indochina. Mr. Jones is a California-licensed commercial real estate broker, and was a successful commercial real estate broker with Sommer-Broida Commercial Brokerage and Broida Commercial Brokerage. The non-independent directors, in particular Craig D. Jones, have cultivated relationships with others who operate within in the Indochina region. They have prior business experience in the Indochina region and are familiar with local customs and the business practices of the markets in which the Company will operate. The investment objective of the Company is to provide shareholders with attractive total returns over the mid-to-long term, with an emphasis on capital growth. The Company will primarily focus on the central urban districts of the main cities within Indochina and will operate initially in two property sectors, namely retail and residential, with a primary focus on shopping centres (anchored and non-anchored) and high-specifications serviced apartments. The Company intends to adopt an investment approach which includes fostering relationships with local experienced partners for whom the Company can be viewed as being a reliable source of funding in exchange for access to potential projects. It is anticipated that the local joint venture partner would also be the construction or property manager in relation to the project on a day-to-day level. However, the Manager or the project services company would typically provide ongoing guidance and supervision to the partner. The Company will be permitted to engage in all forms of property investment and property development which may be allowed under the laws of each jurisdiction in which it and the Manager operates. This would include using appropriate structures and instruments to allow participation in selected projects. Subject to local laws as to foreign ownership of assets and where commercially feasible,…
