Date
18 January 2017
Good Resources will seek investment opportunities in internet banking and clean-energy businesses, says chairman Sonny Wu (center). Photo: Wen Wei Po
Good Resources will seek investment opportunities in internet banking and clean-energy businesses, says chairman Sonny Wu (center). Photo: Wen Wei Po

Good Resources targets US$10 bln in assets under management

Good Resources Holdings (00109.HK) aims to have as much as US$10 billion in assets under management as part of its business expansion plan, the Hong Kong Economic Journal reported.

The company, which in late June completed a restructuring exercise, is currently managing over US$1 billion in assets, according to the report.

It will focus on investment in internet banking and clean-energy sectors, rather than competing in real estate and overseas insurance assets, chairman Sonny Wu Shen-chun (伍伸俊) was quoted as saying.

Good Resources’ board of directors is currently made up of people from diverse backgrounds and nationalities.

The directors include some members of the National Committee of the Chinese People’s Political Consultative Conference, a former US ambassador to Saudi Arabia, and a former Undersecretary of Commerce for International Trade in the US Department of Commerce.

Wu is a founding chairman of Chinese venture capital group GSR Venture.

Good Resources has sold shares and convertible bonds to renowned mainland investor Zheng Jianming in April. That deal resulted in Zheng becoming the firm’s largest shareholder with 33.27 percent beneficial interest.

[Chinese version中文版]

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