Amara signs major equity joint venture agreement with New China Trust

Through this equity joint venture agreement, Amara and New China Trust's subsidiary Shanghai Ding Hai Investment Management Co., Ltd. will together identify and evaluate lucrative Shariah-compliant investment opportunities in China for themselves and on behalf of co-investors and clients.

New China Trust, established in 1979 has a vast clientele base and deep knowledge and experience of investing in China. It currently manages assets of over $4bn and last year has arranged more than $3.3bn in corporate financing for major Chinese conglomerates.

Over the years, New China Trust has successfully arranged a total aggregate of $15bn in corporate finance, foreign investment of over $500m and underwrites government bonds and corporate bonds of more than $1.5bn. Amara brings in-depth knowledge of Shariah Finance and experience in successfully executing complex Shariah compliant transactions in China and globally.

Dr Musab Jassim, Executive Chairman, Amara Holdings Inc, said:

"We are proud to be working with such a prestigious partner like New China Trust and this agreement further demonstrates our commitment to fostering strong economic ties between China and the GCC. The current market environment presents us with unprecedented opportunities to invest in China at very attractive valuations. Our strategy is to focus on sectors that are fundamental to the domestic economy and growth of China and provide the best possible return to our investors."

Mr Weng Xian Ding, Chairman, New China Trust Co., Ltd said, "We believe we have found the right partner in Amara, due to the significant experience that the principals have in Shariah Finance and private equity transactions. They also have an impressive GCC client and investor base which will help us further our strategy of building strong relationships in the Gulf region."

Amara was launched in October 2008 to invest in pre-IPO, private equity and private placement opportunities predominantly in China as well as MENA on behalf of prominent GCC investors. The Company's investment strategy is designed to weather market cycles by investing in sectors that are fundamental to the domestic economies and growth of the target regions such as agriculture, consumer staples and utilities.