Zhongmin Baihui Retail (SGX:5SR) subsidiary Shanxi Xinjiarong Property Development incorporated Shanxi Baihui Yueshang Commercial Management in China, with a registered capital of 20 million yuan.
The subsidiary has a 51% stake in the joint venture project which will lead to the construction of a mall in the Lishi District of Shanxi Province in China, according to a filing with the Singapore Exchange on Wednesday.
The project named Intime is expected to be completed during the first half of 2026 and will have a gross floor area of 52,000 square meters.
Shares of the company were up over 3% in recent trading.
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