Category: Finance

The best of the best real estate developers, projects prevail at 17th PropertyGuru Asia Property Awards Grand Final

  • Award-Winning Pool of Accomplished Developers Gather in Bangkok for Full Return of Awards Series Finale

PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, today announced the regional winners representing the Best in Asia at the 17th Annual PropertyGuru Asia Property Awards Grand Final, presented by Kohler and supported by Leading Real Estate Companies of the World.

  • New World Development Company Limited is hailed Best Developer (Asia) in one of two regional wins for companies from China (Hong Kong and Macau)
  • Companies from Thailand and the Philippines each garner seven regional wins
  • Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, receives the PropertyGuru Icon award

Also known as the finale of the 2022 PropertyGuru Asia Property Awards series, the Grand Final was presented in 48 categories at The Athenee Hotel, a Luxury Collection Hotel, Bangkok.

New World Development Company Limited garnered the award of Best Developer (Asia), representing China (Hong Kong and Macau). Along with the design practice Lead8, the company also received the Best Mega Mixed Use Development (Asia) award for 11 SKIES.

Representing Mainland China, Lead8 additionally won the Best Retail Architectural Design (Asia) award for Shougang Park Urban Weaving District. Benoy Limited won Best Mixed Use Architectural Design (Asia) for CRL MixC Qianhai in another regional win for Mainland China.

The Philippines garnered seven regional wins, led by the Best Industrial Developer (Asia) title for Aboitiz InfraCapital Economic Estates and Best Lifestyle Developer (Asia) title for Global-Estate Resorts, Inc. (GERI). Aboitiz InfraCapital Economic Estates also won the honours of Best Industrial Development (Asia) and Best Green Development (Asia) for LIMA Estate.

AppleOne Mactan, Inc. also won Best Branded Residential Development (Asia) for The Residences at Sheraton Cebu Mactan Resort while Cebu Landmasters, Inc. won Best Hospitality Architectural Design (Asia) for Sofitel Cebu City. Arquitectonica was honoured with the Best Office Architectural Design (Asia) award for Mega Tower.

Thailand also gained seven regional wins, including the Best Landmark Mixed Use Development (Asia) award for One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT). Magnolia Quality Development Corporation Limited won both the Best Condo Development (Asia) and Best Health and Wellness Development (Asia) awards for The Aspen Tree at The Forestias. PMT Property Co., Ltd. earned the titles of Best Condo Interior Design (Asia) and Best Condo Landscape Architectural Design (Asia) for 125 Sathorn. Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL was named Best Waterfront Housing/Landed Development (Asia) while Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. won Best Housing/Landed Landscape Architectural Design (Asia).

Singapore scored six regional wins at the Grand Final. GuocoLand was named Best Luxury Developer (Asia) and Best Sustainable Developer (Asia) while UOL Group Limited was named Best Hospitality Developer (Asia). UOL Group Limited also won Best Hotel Development (Asia) for Pan Pacific Orchard.

Park Nova by Shun Tak Holdings gained the Best Condo Architectural Design (Asia) title while Artyzen Singapore by Artyzen Hospitality Group won Best Hospitality Interior Design (Asia).

Indonesia was also represented with six regional wins that include the Best Township Development (Asia)
award for Kota Baru Parahyangan by PT. Belaputera Intiland and Best Township Masterplan Design (Asia) award for PIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group.

Autograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group, won Best Office Development (Asia) while LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. won Best Connectivity Condo Development (Asia). Metland Cibitung by PT Fajarputera Dinasti, a subsidiary of PT Metropolitan Land Tbk., won Best Connectivity Housing/Landed Development (Asia) while LOGOS Cikarang Logistics Park by LOGOS Indonesia was named Best Green Industrial Development (Asia).

Australia scored five regional wins, including the Best Boutique Developer (Asia) title for Spacious Group. SPG Land won both the Best Smart Building Development (Asia) and Best Integrated Work From Home Development (Asia) titles for Paradiso Place. Dare Property Group won Best Eco Friendly Commercial Development (Asia) for Zero Gipps and Mayrin Group won Best Housing/Landed Architectural Design (Asia) for The Archwood Residences.

Vietnam scored four regional wins, including the Best Mixed Use Developer (Asia) title for Keppel Land. Sycamore by CapitaLand Development (Vietnam) won the Best Housing/Landed Development (Asia) and Best Eco Friendly Housing/Landed Development (Asia) awards. Artisan Park by Gamuda Land was named Best Retail Development (Asia).

From Greater Niseko, Andaru Collection Niseko by Blue Waves Group clinched both Best Completed Housing/Landed Development (Asia) and Best Housing/Landed Interior Design (Asia) awards. HakuVillas by H2 Group won the Best Completed Condo Development (Asia) award.

Cambodia and Malaysia each earned two regional wins. The Best Breakthrough Developer (Asia) award went to Kambujaya Development Co., Ltd, with the Best Waterfront Condo Development (Asia) title going to Vue Aston by The Peninsula Capital Co., Ltd. KL Wellness City by KL Wellness City Sdn Bhd was named Best Mixed Use Development (Asia), with Infinity8 Reserve JBCC by Infinity Group winning Best Co-Working Space (Asia).

India was also represented at the Grand Final with Embassy REIT winning Best Commercial Landscape Architectural Design (Asia) for Embassy TechVillage – Central Garden.

Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, received the PropertyGuru Icon Award. Ciputra, previously named the Indonesia Real Estate Personality of the Year in 2015, received the award for a lifetime of real estate achievements covering developments in more than 40 cities across the archipelago.

The regional winners at the Grand Final were selected from the elite pool of country winners from PropertyGuru Asia Property Awards’ series of celebrations this year in Singapore, Malaysia, Indonesia, Thailand, Vietnam, Cambodia, the Philippines, Mainland China, Hong Kong, Macau, Greater Niseko (Japan), India, and Australia.

Hari V Krishnan, CEO and managing director of PropertyGuru Group, said: “The Awards remain among our widest-reaching enterprise solutions, having expanded over the years to represent some of the world’s most dynamic property markets from Southeast Asia to Australia. With these award-winning developers and designers as benchmarks, we hope to guide property seekers towards finding, financing and owning the right properties. In this, the 17th edition of the PropertyGuru Asia Property Awards Grand Final, we elevate not only the region’s dream homes but also its finest, most sustainable live-work-play developments, workspaces, retail hubs, hotels, resorts, and industrial parks, among others, to an international platform. Whether you’re seeking, selling or building property, we will see you home.”

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “The winners of the PropertyGuru Asia Property Awards Grand Final aptly represent the diversity, progress, and resilience of their respective property markets. With projects ranging from boutique residential developments to vast integrated districts, these award-winning developments offer an impressive snapshot of what the Best in Asia looks like. Whether celebrated onstage at our gala events, or presented to the world online, these awardees shine bright as the Gold Standard of Asian real estate, keeping true to our vision of building the region’s Property Trust Platform. To all the winners announced at our regional Grand Final – we celebrate your success. Congratulations.”

The latest edition of the Grand Final marked the full return of the black-tie gala dinner and awards presentation, following a successful virtual gala edition in 2021. The 2022 Grand Final was streamed live on AsiaPropertyAwards.com as well as the programme’s official Facebook and YouTube channels.

The list of winners at the Grand Final was selected by an independent jury consisting of head judges of participating markets in the Awards: Thien Duong, chairperson of the Grand Final and general director, Group GSA (Vietnam); Amit Khanna, managing director, Phoenix Advisers (India); Bill Barnett, founder and managing director, C9 Hotelworks (Greater Niseko); Cyndy Tan Jarabata, president of TAJARA Leisure & Hospitality Group Inc. (Philippines); Dato’ Sr. Lau Wai Seang, president, Royal Institution of Surveyors Malaysia (RISM): 2017-2018 (Malaysia); Kristin Thorsteins, head of partnership growth for APAC at IWG PLC (Singapore); Lui Violanti, regional manager for Western Australia, Inhabit Group (Australia); Paul Tse, president, board of directors, Macao Association of Building Contractors and Developers (Mainland China, Hong Kong and Macau); Sorn Seap, executive vice president, Cambodian Valuers and Estate Agents Association (Cambodia); Suphin Mechuchep, chairperson, JLL Thailand (Thailand); and Vivin Harsanto, senior director and head of advisory, JLL Indonesia (Indonesia).

HLB, the leading international accounting and advisory firm, upheld fairness, transparency and credibility throughout all points of the selection process, under the leadership of Paul Ashburn, HLB International Real Estate Group.

Since it was established in Thailand in 2005, the PropertyGuru Asia Property Awards programme has expanded over the years to 18 property markets. Through its series of in-person and virtual gala celebrations, the PropertyGuru Asia Property Awards programme has provided an international platform for excellent real estate developers, architects, and interior designers across Asia Pacific. The programme therefore connects awardees to a wide pool of investors, consumers, and agents, as well as the diaspora, throughout the region and beyond.

Organised by PropertyGuru Group (NYSE: PGRU), the 17th PropertyGuru Asia Property Awards Grand Final is supported by platinum sponsor Kohler; gold sponsor Leading Real Estate Companies of the World; official portal partner PropertyGuru; official channel partner History; official magazine Property Report by PropertyGuru; official PR partner Artemis Associates; media partners BusinessWorld, Construction & Property, d+a Magazine, Daily FT, Deluxe Magazine, Discover Pattaya, Esquire PH, Hot Magazine, Housing.com, Kompas, Kopiandpropetry.com, Luxuo, Manila Bulletin, Mingtiandi, Palace, Pattaya Trader, Penang Property Talk, People Asia Magazine, PhilStar PropertyReport PH, Powderlife, Real Estate News PH, Real Living, Rem, Robb Report, Southeast Asia Globe, Suara Indonesia, The Grid, The Hindu, The Manila Times, Think of Living, Top 10 of Malaysia, Vietnam Heritage, WhenInManila.com, Yacht Style, and Your Investment Property; official ESG partner Baan Dek Foundation; official charity partner Liter of Light; supporting partners IFC – Building Resilience Index, IFC – Excellence in Design for Greater Efficiencies, and REHDA Institute; supporting associations EuroCham Cambodia, Global Design Awards Lab, Green Building Consulting & Engineering, Niseko Tourism, Singapore Estate Agents Association, and Singapore Green Building Council; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

LIST OF REGIONAL AND COUNTRY WINNERS
17th PropertyGuru Asia Property Awards Grand Final

DEVELOPER AWARDS

Best Developer (Asia)
Agung Sedayu Group – Indonesia
Auriton Group – Australia
New World Development Company Limited – China – Hong Kong and Macau (REGIONAL WINNER)
Prince Real Estate Group – Cambodia
Robinsons Land – Philippines
UOL Group Limited – Singapore

Best Luxury Developer (Asia)
GuocoLand – Singapore (REGIONAL WINNER)
SonKim Land Corporation – Vietnam

Best Industrial Developer (Asia)
Aboitiz InfraCapital Economic Estates – Philippines (REGIONAL WINNER)
PT LOGOS SEA Indonesia – Indonesia

Best Mixed Use Developer (Asia)
GuocoLand – Singapore
Keppel Land – Vietnam (REGIONAL WINNER)
Megaworld Corporation – Philippines
Prince Real Estate Group – Cambodia

Best Hospitality Developer (Asia)
Megaworld Corporation – Philippines
UOL Group Limited – Singapore (REGIONAL WINNER)

Best Lifestyle Developer (Asia)
Aurum Land (Private) Limited – Singapore
Casagrand Builder Pvt. Ltd. – India
Global-Estate Resorts,Inc. (GERI) – Philippines (REGIONAL WINNER)

Best Sustainable Developer (Asia)
GuocoLand – Singapore (REGIONAL WINNER)
PT. Bumi Serpong Damai – Indonesia
PT LOGOS SEA Indonesia – Indonesia

Best Boutique Developer (Asia)
Aurum Land (Private) Limited – Singapore
PT. Bumi Parama Wisesa (NavaPark) Hongkong Land & Sinar Mas Land Joint Venture – Indonesia
Spacious Group – Australia (REGIONAL WINNER)

Best Breakthrough Developer (Asia)
Kambujaya Development Co., Ltd – Cambodia (REGIONAL WINNER)

DEVELOPMENT AWARDS

Best Township Development (Asia)
Bridgetowne Destination Estate by Robinsons Land – Philippines
Correctio by PT. Jababeka Tbk – Indonesia
Kota Baru Parahyangan by PT. Belaputera Intiland – Indonesia (REGIONAL WINNER)
Meyhomes Capital Phu Quoc by Tan A Dai Thanh – Meyland – Vietnam

Best Mega Mixed Use Development (Asia)
11 SKIES by Lead8 & New World Development Company Limited – China – Hong Kong and Macau (REGIONAL WINNER)

Best Landmark Mixed Use Development (Asia)
One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) – Thailand (REGIONAL WINNER)

Best Mixed Use Development (Asia)
Baker Circle by Henderson Land Development Company Limited – China – Hong Kong and Macau
Balfour Place by Thirdi Group – Australia
Embassy Manyata Front Parcel Development by Embassy REIT – India
Heartland 66 by Hang Lung Properties – Mainland China
KL Wellness City by KL Wellness City Sdn Bhd – Malaysia (REGIONAL WINNER)
Melbourne Square by OSK Property – Australia
Prince International Plaza by Prince Real Estate Group – Cambodia
Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group – Indonesia

Best Industrial Development (Asia)
FoodFab @ Mandai by Mandai 7 JV Pte Ltd – Singapore
GIIC @ Kota Deltamas by Sinar Mas Land & Sojitz Corporation – Indonesia
LIMA Estate by Aboitiz InfraCapital Economic Estates – Philippines (REGIONAL WINNER)

Best Hotel Development (Asia)
Pan Pacific Orchard by UOL Group Limited – Singapore (REGIONAL WINNER)
Park Hyatt Niseko Hanazono and Hanazono Resort Niseko by Nihon Harmony Resorts KK and PCPD – Greater Niseko

Best Retail Development (Asia)
Artisan Park by Gamuda Land – Vietnam (REGIONAL WINNER)
Batavia PIK by Agung Sedayu Group & Salim Group, curated by Amantara – Indonesia

Best Office Development (Asia)
888 Lai Chi Kok Road (NCB Innovation Centre) by New World Development Company Limited – China – Hong Kong and Macau
Autograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group – Indonesia (REGIONAL WINNER)
Cloud Land, Hangzhou by Greentown China Holdings Limited – Mainland China
Frasers Tower by Frasers Property Singapore – Singapore
Hudson & Ganges Office Towers, Embassy TechZone by Embassy REIT – India
Knowledge Hub @Digital Hub by Sinar Mas Land – Indonesia
One Bangkok Office Tower 4 by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) – Thailand

Best Branded Residential Development (Asia)
The Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. – Philippines (REGIONAL WINNER)

Best Condo Development (Asia)
Forbes Residences, Applecross by Mustera Property Group Ltd – Australia
Hinode Hills by Niseko Village – Greater Niseko
Kincang Egrets Waves 3.0 Residential by LYCS Architecture – Mainland China
Le Parc at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group – Indonesia
Meyer Mansion by GuocoLand – Singapore
One Innovale by Henderson Land Development Company Limited – China – Hong Kong and Macau
Parc3 by Eupe Corporation Berhad – Malaysia
Piramal Aranya by Piramal Realty – India
The Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited – Thailand (REGIONAL WINNER)
The Seasons Residences by Sunshine Fort North Bonifacio Realty Development Corporation – Philippines
Vue Aston by The Peninsula Capital Co., Ltd. – Cambodia

Best Waterfront Condo Development (Asia)
Costa Mira Beachtown Mactan by Cebu Landmasters, Inc. – Philippines
Lee Nam Road 66 by Logan Group Company Limited & KWG Group Holdings – China – Hong Kong and Macau
Meyer Mansion by GuocoLand – Singapore
Paradiso Place by SPG Land – Australia
Sunteck Beach Residences (SBR) by Sunteck Realty Limited – India
Vue Aston by The Peninsula Capital Co., Ltd. – Cambodia (REGIONAL WINNER)

Best Connectivity Condo Development (Asia)
LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. – Indonesia (REGIONAL WINNER)

Best Completed Condo Development (Asia)
HakuVillas by H2 Group – Greater Niseko (REGIONAL WINNER)

Best Health and Wellness Development (Asia)
Forbes Estates Lipa by Robinsons Land – Philippines
Mark Moran Warrawee by Mark Moran Group – Australia
The Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited – Thailand (REGIONAL WINNER)

Best Smart Building Development (Asia)
Paradiso Place by SPG Land – Australia (REGIONAL WINNER)

Best Housing/Landed Development (Asia)
Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group) – Singapore
Enchante Residence @BSD City by Sinar Mas Land – Indonesia
Guangzhou Nansha Amber Living by Zhuhai Huafa Properties Co., Ltd. – Mainland China
Sycamore by CapitaLand Development (Vietnam) – Vietnam (REGIONAL WINNER)
The Archwood Residences by Mayrin Group – Australia

Best Waterfront Housing/Landed Development (Asia)
Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL – Thailand (REGIONAL WINNER)
The Residences III at The Glades, Putra Heights by Sime Darby Property – Malaysia

Best Connectivity Housing/Landed Development (Asia)
Metland Cibitung by PT Fajarputera Dinasti a subsidiary of PT Metropolitan Land Tbk. – Indonesia (REGIONAL WINNER)

Best Completed Housing/Landed Development (Asia)
Andaru Collection Niseko by Blue Waves Group – Greater Niseko (REGIONAL WINNER)

Best Integrated Work From Home Development (Asia)
Paradiso Place by SPG Land – Australia (REGIONAL WINNER)
Pisonia Ville by UDA Holdings Berhad – Malaysia

Best Green Development (Asia)
LIMA Estate by Aboitiz InfraCapital Economic Estates – Philippines (REGIONAL WINNER)

Best Green Industrial Development (Asia)
LOGOS Cikarang Logistics Park by LOGOS Indonesia – Indonesia (REGIONAL WINNER)

Best Eco Friendly Housing/Landed Development (Asia)
Sycamore by CapitaLand Development (Vietnam) – Vietnam (REGIONAL WINNER)

Best Eco Friendly Commercial Development (Asia)
Site of the Future – Acienda Silang by Pilipinas Shell Petroleum Corporation – Philippines
Zero Gipps by Dare Property Group – Australia (REGIONAL WINNER)

DESIGN AWARDS

Best Township Masterplan Design (Asia)
Bridgetowne Destination Estate by Robinsons Land – Philippines
PIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group – Indonesia (REGIONAL WINNER)

Best Mixed Use Architectural Design (Asia)
11 SKIES by Lead8 – China – Hong Kong and Macau
CRL MixC Qianhai by Benoy Limited – Mainland China (REGIONAL WINNER)
Yoho Treasure Island Resorts World Hotel, Macau by Huarchi Global Design Corporation Ltd & Treasure Island Entertainment Company Ltd – China – Hong Kong and Macau

Best Condo Architectural Design (Asia)
AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company – Singapore
Meyer Mansion by GuocoLand – Singapore
One East @ Damansara by CK East Group – Malaysia
Paradiso Place by SPG Land – Australia
Park Nova by Shun Tak Holdings – Singapore (REGIONAL WINNER)
Railway Leisure Town by HZS Design (Shanghai) Ltd. – Mainland China
Reference Sathorn – Wongwianyai by SC Asset – Thailand
The Commodore by JBE Holdings Pte Ltd – Singapore
The East Village at DGT by Cebu Landmasters, Inc. – Philippines
Waterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. – Thailand

Best Housing/Landed Architectural Design (Asia)
Andaru Collection Niseko by Blue Waves Group – Greater Niseko
Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL – Thailand
Mazenta Residence by PT Cipta Harmoni Lestari – Indonesia
Seri Austin Heights by Aksi Sepakat Sdn Bhd – Malaysia
The Archwood Residences by Mayrin Group – Australia (REGIONAL WINNER)
The Valley by Botanica Luxury Villas – Thailand
Venue ID Motorway Rama 9 by SC Asset – Thailand

Best Hospitality Architectural Design (Asia)
Artyzen Singapore by Artyzen Hospitality Group – Singapore
Shiguchi by Kookan – Greater Niseko
Sofitel Cebu City by Cebu Landmasters, Inc. – Philippines (REGIONAL WINNER)

Best Retail Architectural Design (Asia)
Pantjoran PIK by Agung Sedayu Group & Salim Group, curated by Amantara – Indonesia
Shougang Park Urban Weaving District by Lead8 – Mainland China (REGIONAL WINNER)

Best Office Architectural Design (Asia)
Embassy Oxygen, Tower-1 by Embassy REIT – India
Mega Tower by Arquitectonica – Philippines (REGIONAL WINNER)
One Bedford Place by Lofter Group Limited – China – Hong Kong and Macau

Best Condo Interior Design (Asia)
125 Sathorn by PMT Property Co., Ltd. – Thailand (REGIONAL WINNER)
Liv @ MB by Bukit Sembawang Estates Limited – Singapore
Orchard Sophia by Orchard Sophia Pte Ltd – Singapore
Paradiso Place by SPG Land – Australia
Perfect Ten by Property Enterprises Development (Singapore) Pte Ltd – Singapore
The Commodore by JBE Holdings Pte Ltd – Singapore
The Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. – Philippines

Best Housing/Landed Interior Design (Asia)
Andaru Collection Niseko by Blue Waves Group – Greater Niseko (REGIONAL WINNER)
Kambujaya Residences by Kambujaya Development Co., Ltd – Cambodia
Mazenta Residence by PT Cipta Harmoni Lestari – Indonesia
The Archwood Residences by Mayrin Group – Australia

Best Hospitality Interior Design (Asia)
Artyzen Singapore by Artyzen Hospitality Group – Singapore (REGIONAL WINNER)
Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. – Philippines
Shiguchi by Kookan – Greater Niseko

Best Condo Landscape Architectural Design (Asia)
125 Sathorn by PMT Property Co., Ltd. – Thailand (REGIONAL WINNER)
AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company – Singapore
Park Nova by Shun Tak Holdings – Singapore
Waterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. – Thailand

Best Housing/Landed Landscape Architectural Design (Asia)
Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. – Thailand (REGIONAL WINNER)
Meysenses Lucia Bay Bai Lu by Tan A Dai Thanh – Meyland – Vietnam

Best Commercial Landscape Architectural Design (Asia)
Embassy TechVillage – Central Garden by Embassy REIT – India (REGIONAL WINNER)

Best Co-Working Space (Asia)
Infinity8 Reserve JBCC by Infinity Group – Malaysia (REGIONAL WINNER)
work.able Exxa-Zeta Center by Robinsons Land – Philippines

PUBLISHER’S CHOICE

PropertyGuru Icon Award
WINNER: Candra Ciputra
CEO, Ciputra Group
President Director, PT Ciputra Development Tbk

NOTE: Use of the PropertyGuru Asia Property Awards logo is limited to the publication of this article only.

PROPERTYGURU CONTACTS:
General Enquiries:
Richard Allan Aquino
Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com

Sponsorships:
Kanittha Srithongsuk
Regional Manager, Awards Sponsorship
M: +66 93 293 9794
E: kanittha@propertyguru.com

Media & Partnerships:
Nate Dacua
Media Relations & Marketing Services Manager
M: +66 92 701 2510
E: nate@propertyguru.com

Sales & Nominations:
Udomluk Suwan
Sales Director
M: +66 87 699 4433
E: may@propertyguru.com

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:
PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair and transparent.

In 2022, the Awards series is open to more than a dozen key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2022.

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP:
PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 44 million property seekers7 (https://www.propertygurugroup.com/newsroom/propertyguru-reports-third-quarter-2022-results/#news_icon) to find their dream home, every month. PropertyGuru empowers property seekers with more than 3.5 million real estate listings8 (https://www.propertygurugroup.com/newsroom/propertyguru-reports-third-quarter-2022-results/#news_icon), in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio of leading property marketplaces across its core markets; award-winning mobile apps; mortgage marketplace, PropertyGuru Finance (https://www.propertyguru.com.sg/mortgage/home-loan); and a host of enterprise solutions now under PropertyGuru For Business (https://www.propertyguruforbusiness.com/), including a high-quality developer sales enablement platform, FastKey (https://www.propertyguruforbusiness.com/fastkey), DataSense (https://www.propertyguruforbusiness.com/datasense), ValueNet (https://www.propertyguruforbusiness.com/real-estate-valuers), Awards (https://www.asiapropertyawards.com/en/), events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn (https://www.linkedin.com/company/propertyguru).
1. Based on SimilarWeb data between April 2022 and September 2022.
2. The third quarter and first nine months ended September 30, 2022 includes results of the iProperty Malaysia and thinkofliving businesses which were acquired on August 3, 2021.
3. Included in the S$13.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2022 was a S$4.9 million depreciation and amortization expense.
4. Included in the S$8.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2021 were a S$3.9 million depreciation and amortization expense and a S$3.0 million net finance expense.
5. Based on SimilarWeb data between April 2022 and September 2022.
6. Does not include impact of Sendhelper acquisition in October 2022.
7. Based on Google Analytics data between April 2022 and September 2022.
8. Based on data between April 2022 and September 2022.

Samaiden Shareholders Pass All Resolutions at AGM

  • Political stability and increasing awareness of climate change to drive RE investment and growth

Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants, reported that shareholders have passed all resolutions at the 3rd AGM held today.

Group Managing Director of Samaiden, Ir. Chow Pui Hee

Among the resolutions passed were the re-election of Lim Poh Seong and Fong Yeng Foon as directors pursuant to the Constitution of the Company as well as the re-appointment of TGS TW PLT as auditors of the Company. Shareholders also passed the resolution empowering the board of directors to issue and allot up to 10% of the total number of issued shares of the Company for the time being pursuant to Sections 75 and 76 of the Companies Act 2016.

Group Managing Director of Samaiden, Ir. Chow Pui Hee said, “This is the first ever AGM we are holding physically ever since Samaiden was listed in October 2020 on the ACE Market. We are glad to meet our shareholders and would like to thank them for their trust and confidence in us as we endeavoured to steer the business safely through the COVID-19 pandemic. While financial year ended 30 June 2022 (FY2022) has not been without its challenges, we note the increasing adoption of RE as businesses and organisations come to terms with climate change and also volatile fossil fuel costs.”

“Over the mid-to-long term, we see greater clarity for RE given the rollout of the National Energy Policy 2022-2040 in September 2022 outlining the key priorities for Malaysia’s socioeconomic development. Given that sustainability practices are increasingly being used to benchmark businesses, easy access and the ready availability of RE is crucial for growth as it also covers other indices used to gauge green attributes such as carbon credits, carbon emissions and RE certificates.”

“We view positively the more stable political climate in Malaysia as this will boost investor sentiment and funding for more RE infrastructure. Samaiden continues to seek opportunities to offer our EPCC services for the installation of solar PV systems as well as solar and non-solar power plants by leveraging on our core competency and experience in providing end-to-end services for potential solar PV and other non-solar projects.”

Samaiden has an outstanding orderbook of RM325.40 million as at 30 September 2022 with earnings visibility over the next three years.

Samaiden Group Berhad: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/

Propel Global to Acquire 51% Stake in O&G Engineering Firm for RM7.82 Million

Propel Global Berhad (Bursa: MAIN, PGB, 0091), provider of oil and gas supporting services such as well services , engineering, procurement, construction and commissioning (EPCC) services, maintenance of heating, ventilation and air-conditioning (HVAC) systems as well as downstream specialty chemicals to the oil and gas (O&G) industry, today announced that the Company has entered into a conditional share sale agreement to buy a 51% stake in Best Wide Engineering (M) Sdn. Bhd. (BWE) for RM7.82 million.

Ms. Angeline Lee, Group Chief Executive Officer of Propel Global

BWE provides engineering and technical works for the O&G industry through engineering, procurement, construction and commissioning (EPCC) of new plants and plant modification works; design and supply of skidded process systems and engineered equipment for onshore plants and offshore platforms and; project management and engineering consultancy services. Its shareholders and directors are Azizi bin Alias (Azizi) with 45.8% equity interest, Jasniazrin Shah Bin Mohd Hata (Jasniazrin) with 44.2% equity interest and Tan Siew Lee (Siew Lee) with 10.0% equity interest.

Propel Global is acquiring the 51% stake from Azizi, who is selling his entire equity interest, and Siew Lee, who is selling 5.2% of his holdings. As part of the share sale agreement, Propel Global has also entered into a put and call option agreement with Jasniazrin and Siew Lee that requires the Company to purchase up to 49.0% of the remaining equity interest in BWE from them and, Jasniazrin and Siew Lee will grant Propel Global the right during the call option period that requires them to sell up to 34.0% equity interest in BWE to the Company.

BWE, which has 15 ongoing contracts with total unbilled contract value of RM21.8 million expected to be realised over the next three years, is guaranteeing a profit of RM2.4 million and RM2.6 million in profit after tax (PAT) for the financial year ended 30 November (FYE) 2022 and FYE 2023 respectively. BWE reported revenue of RM18.6 million and PAT of RM178,000 for FYE2019; RM19.0 million revenue and RM395,000 PAT for FYE2020 and; RM38.5 million revenue and RM2.3 million PAT for FYE2021. Currently, BWE has a tender book of RM41.3 million.

Ms. Angeline Lee, Group Chief Executive Officer of Propel Global said, “The acquisition is in line with the Group’s strategy to grow the O&G business through expanding our offerings and enhancing market presence as an O&G engineering services provider. BWE’s expertise and experience in EPCC works complements the Group’s existing O&G business.”

“We believe that combining the core competencies of BWE with the Group would enable the latter to bundle a wider range of service offerings to its customers and provide it with a competitive edge over competitors. The Group will also be able to tap into BWE’s existing customer base for cross-marketing opportunities and additional revenue stream.”

Propel Global Berhad: 0091 [BURSA: PGB], https://www.propelglobal.com.my/

SCIB Concludes 46th AGM Successfully

Company moves forward with growth plans leveraging on strengths as leading IBS manufacturer in East Malaysia and adoption of 3D printing for construction

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) held the Company’s 46th AGM virtually today in which shareholders voted to reappoint NEXIA SSY PLT as the auditor and authorised the directors to fix its remuneration.

Group MD and CEO of SCIB, Encik Rosland bin Othman

Shareholders also passed a resolution authorising the issuance and allotment of shares pursuant to Sections 75 and 76 of the Companies Act 2016 while waiving their pre-emptive rights.

The resolutions to re-elect Dato’ Dr. Ir. Ts. Mohd Abdul Karim bin Abdullah and Datu Haji Abdul Hadi bin Datuk Abdul Kadir to the board of directors were not tabled as they retired effective 8 December 2022. Other resolutions passed included the reappointments of eligible directors up for re-election.

Group Managing Director of SCIB, Encik Rosland bin Othman, said, “We are happy to engage with our shareholders virtually in the AGM today and answer their questions. On behalf of SCIB, I would like to thank them for having placed their trust and confidence in us at what has been a challenging period. We would also like to thank both Dato’ Dr. Ir. Ts. Mohd Abdul Karim and Datu Haji Abdul Hadi for their years of leadership and dedication to SCIB.”

“I can confidently say that the Company is looking forward to 2023 following the measures we have adopted focusing on our strengths and ensuring our resilience in the face of changes in the construction industry.”

Among the measures the Company took is a kitchen-sinking exercise pertaining to the recent cancellation of four projects as well as the settlement agreement over six projects in Qatar and Oman. These measures were taken to safeguard the Company’s interests. In respect of the cancellation of the five projects, the decision was taken after reviewing and updating the Company’s order book records to reflect the current situation while, in respect of the projects in Qatar and Oman, there is no financial impact to the trade receivables.

“In regards to the outlook, as East Malaysia’s leading precast concrete and Industrialised Building System (IBS) manufacturer, we expect Sarawak Economic Development Corp’s successful tender of the RM448 million System Package Two contract for the Kuching Urban Transportation System project phase one to have positive impact for the state economy while the announcement of the RM50 billion MRT3 project will spur demand for civil engineering services and building materials as well as give a much needed boost to the nation’s construction sector.”

“We intend to leverage on our strengths as a leading precast concrete and IBS manufacturer to seek opportunities for our engineering, procurement, construction and commissioning (EPCC) business where we specialise in small-to-mid-sized projects for water, electricity, roads, health and education infrastructure. SCIB’s geographical scope expanded to Peninsular Malaysia in recent years and we are also seeking EPCC opportunities in neighbouring Kalimantan in which our manufacturing business can play a pivotal role. To ensure business sustainability, we have also adopted technology such as 3D printing for construction as we transform to meet the challenges of the present and the future.”

As of 30 November 2022, SCIB has an order book of RM564.7 million with earnings visibility until 2026.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Sri Trang introduces new Super Driver jobs for traditional natural rubber planters

  • To create a natural rubber delivery network from plantations to factories, strengthening the ‘Sri Trang Ecosystem’

Sri Trang Agro-Industry Plc. (SET: STA), the world’s leading fully integrated natural rubber company, has opened registration for “Super Drivers” to create extra income for rubber planters from a secondary career as rubber transporters, building a rubber delivery network from plantations to factories in the Sri Trang Group. This will connect stakeholders in the rubber industry ecosystem, and drive the industry towards digitalization.

Mr. Veerasith Sinchareonkul, President & Executive Director of Sri Trang Agro-Industry (STA) explained that following the Company’s launch of “Sri Trang Friends”, the first App. to combine support services for farmers, trading partners, and related services across the digital platform, recently expanding with the new “Sri Trang Friends Station” App, which offers a rubber sales and trading platform, and allows interested natural rubber planters across the country to apply for membership, facilitating a more transparent and professional rubber trading business. This is a major development that will propel the Thai rubber industry towards digitalization, connecting networks of stakeholders across the natural rubber industry ecosystem in Thailand.

Most recently, the Sri Trang Group initiated the new “Super Driver” service, “heroes” to fellow farmers, providing rubber delivery services to Sri Trang rubber factories for fellow rubber planters who may be constrained by distance. The “Super Drivers” will pick up the rubber from plantation owners who require this service, then deliver the products to Sri Trang factories, thus alleviating the problems associated with approaching the factories and the delivery of rubber. Initially, the program is being launched as pilot projects in Loei and Ubon Ratchathani provinces, and will soon be introduced throughout the country.

The main differences that makes the “Super Driver” model special are the approach and the application process. The main target groups are the rubber planters, or those with families in the rubber plantation or rubber delivery business, with their own delivery trucks, who would like to earn extra income, and be ready to represent the senders and various types of natural rubber, such as fresh latex, cup lump rubber, raw rubber sheets and ribbed smoked rubber sheets from plantations in nearby vicinities, to be delivered to factories in the Sri Trang Group. The main purpose of “Super Driver” recruitment is to create an additional income stream for rubber planters and their relatives, along with helping rubber planters with direct access to the factories, as if having the factories right on the gates of their plantations. This is also in line with the Company’s policy to conduct its businesses sustainably by caring for the stakeholders in all sectors.

There are no application fees for the applicants. Moreover, they will receive the following benefits: 1) The ready-for-use POS with the downloaded App., 2) A floor-stand weighing scale, and 3) A gift set for Super Drivers, etc. Income from the delivery of rubber to the factory plus the diligence bonus for each “Super Driver” is expected to amount to approximately 18,500 baht per month.

“Our big mission is to create an additional income stream for people in and around rubber plantations by their becoming Super Drivers so they can elevate their quality of life. In addition, the model will provide easy access and opportunities for plantations that are located far away, to access the factories more readily, while connecting all the people involved in the rubber industry ecosystem through the App. which has been specially developed by the Company. In the near future, the “Sri Trang Friends” and “Sri Trang Friends Station” Apps that support the two groups of users – rubber traders and the Super Drivers – will have some connected functions that are aimed at positive and sustainable development towards the “Sri Trang Friends Ecosystem”, Mr. Veerasith concluded.

Released by Public Relations Dept., MT Multimedia Co., Ltd. for Sri Trang Agro-Industry Plc.
For additional information, please contact: Wasana ‘Jeab” Wongsiri
T: +66 84 359 0659, +66 2 612 2081 ext.131; E: wasana.w@mtmultimedia.com

Sri Trang Agro-Industry Plc. https://www.sritranggroup.com/en/home
[SET: STA; STA-R; STA/F] [SGX: NC2; STA] [XTR: YTAA] [OTCPK: SRGPF]

Kitchen Culture Says Notices Filed to Correct Attempts By Director to Change ACRA Records of 5 Fellow Directors, Company Secretary and Address After Purported EGM That Has Been Deemed Invalid

  • The Company has sent corrective notices to the Accounting and Corporate Regulatory Authority (“ACRA”) after “extremely disruptive” actions by Madam Hao Dongting (“Mdm Hao”)
  • The Company’s efforts follow attempts by Mdm Hao, who is intricately linked to requisitioners seeking to replace 5 current directors, to change ACRA records of the Company Secretary, office bearers and registered address of the Company
  • Requisitioners led by substantial shareholder OOWAY Group (of which Mdm Hao is a director) have yet to respond to Company’s repeated invitation to bring before the Singapore Court the matter of validity of the Purported EGM held on 25 November 2022
  • The Company has said the Purported EGM was invalid as notices were not sent to shareholders and to the Company, while 5 candidates seeking to replace 5 directors had failed to submit important documents beforehand

Kitchen Culture Holdings Ltd. (Kitchen Culture or the Company) said today that it had filed notices to correct attempts by a director, Madam Hao Dongting (Mdm Hao) – who is intricately linked to its largest shareholder that has made a second invalid attempt to remove 5 of her fellow board members – to change records of the secretary, office bearers and address of the Company as registered with the Accounting and Corporate Regulatory Authority (“ACRA”).

It said that Mdm Hao and 5 persons seeking to replace 5 current directors are circumventing the need to go through “proper and required legal processes” to determine the validity of a purported extraordinary general meeting (Purported EGM) held by electronic means on 25 November 2022.

Kitchen Culture has repeatedly asked the 8 requisitioners led by its largest shareholder OOWAY Group Ltd. (“OOWAY Group”) – of which Mdm Hao is a substantial shareholder and director – to bring the matter of the validity of the Purported EGM before a Singapore Court. Alternatively, they can issue fresh and compliant notices and other documents to call for a fresh EGM.

The Company deems the meeting to be invalid as requisitioners had not sent valid notices, while 5 persons they sought to appoint (the “5 Purported Appointees”) were ineligible for election in the first place as they had failed, neglected or refused to submit relevant documents on time, even assuming that it was a valid general meeting.

The Company has also received many emails and calls from shareholders voicing frustration that the requisitioners had proceeded with the Purported EGM and announced “the results” in a press release issued on ACN newswire the same day. Many shareholders have also said they had not received the notices calling for the meeting.

The requisitioners have yet to respond to the Company’s request to bring the matter to Court. Instead, in recent days, Mdm Hao, on behalf of the “new board” supposedly comprising herself and the 5 Purported Appointees, appears to have been contacting or attempting to contact the Company’s professional firms to replace the incumbent Company Secretary with 2 others and to change the registered office to the latter’s.

The “new company secretaries”, without waiting for a determination by the Singapore Court or informing the incumbent Company Secretary or the Directors, proceeded to file these changes online with ACRA. However, Kitchen Culture has taken swift action to file corrective notices with ACRA.

In any case, these are matters which shall be effected according to resolutions properly passed by shareholders or the proper Directors, the Company said. “The filing of any such ‘changes’ does not have any substantive effect on the legality – or, for the matter, the invalidity – of the removals, appointments, or change of registered office.”

“The Directors (other than, of course, Mdm Hao) view these actions to be extremely disruptive of and interfere with the orderly conduct of the business and affairs of the Company, to create uncertainty and sow confusion, as well as are unlawful,” Kitchen Culture said.

The 5 Purported Appointees proposed by the requisitioners are James Beeland Rogers, Jr., Yip Kean Mun, Lam Kwong Fai, Tan Meng Shern and Cheung Wai Mun. The Requisitioners comprise OOWAY Group and 7 individuals who own an aggregate of 21.71% of the Company’s shares.

Kitchen Culture’s Board, with the exception of Mdm Hao, has said that there are no grounds to justify the resignations of 5 current directors – Mr Lim Wee Li (Executive Director), Mr Lau Kay Heng (Non-Executive Non-Independent Chairman), and 3 Independent Directors, Mr Ang Lian Kiat, Mr William Teo Choon Kow and Mr Peter Lim King Soon.

Mr Lau Kay Heng and Mr Peter Lim King Soon were named as new directors on 15 July 2022, the same day that Mr Lincoln Teo, an OOWAY Group’s representative and former Interim CEO of Kitchen Culture, ceased to be Executive Director. The Company has stressed that OOWAY Group had supported the re-appointments of Mr William Teo Choon Kow and Mr Ang Lian Kiat at the Annual General Meeting held on 18 March 2022.

Shares of the SGX Catalist-listed provider of kitchen and bathroom solutions have been suspended from trading since July 2021. Its Board has seen several changes since the involvement of OOWAY Group in October 2020.

Issued by:
Kitchen Culture Holdings Ltd.
9 Raffles Place, #52-02, Republic Plaza
Singapore 048619
Tel: +65 6471 6776, Fax: +65 6472 6776

Media & Investor Contact
Whatsapp (Text): +65 9748 0688
kitchenculture@wer1.net

This press release has been reviewed by the Company’s sponsor, SAC Capital Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Kitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg

Malaysian Investors take part in Indonesia Investment Forum in Penang

A total of 95 Malaysian investors took part in the Indonesia Investment Forum which was co-organized by the Ministry of Investment/Investment Coordinating Board (BKPM) of Republic of Indonesia and the Consulate General of the Republic of Indonesia (KJRI) Penang in Penang, Malaysia, Tuesday.

Promotion Director for Southeast Asia, Australia, New Zealand and the Pacific Region of the Ministry of Investment/Investment Coordinating Agency (BKPM) Saribua Siahaan said, “The ministry together with the Indonesian Consulate General in Penang received information that many potential investors in Malaysia were interested in investing in Indonesia, particularly, in Medan, North Sumatera and in Indonesia’s New Capital City (IKN).

“Therefore, we have come here to directly meet and talk to the investors about the potentials,” said Saribua. Malaysia is among the top 10 investors in Indonesia, with investment over the last 5 years (2017-2021) reaching US$ 6.76 billion.

Penang was chosen as the location for the event because the city is a manufacturing hub in Malaysia, hosting Excellence in Industry 4.0 through which it is expected to increase awareness and interest of Malaysian investors in investment opportunities in Indonesia.

“Malaysia is one of the biggest investors in Indonesia, mostly in Sumatra. And we hope the investment can be expanded in other locations, especially in IKN,” said Saribua.

Consul General of the Republic of Indonesia in Penang, Bambang Suharto, added, “Penang as home to 300 MNCs (Multi National Corporations) and 3,000 SMEs (Small Medium Enterprises) has various similarities and closeness with Indonesia, namely the geography, community diversity and culture.

“Indonesia, as predicted by the OECD (Organization for Economic Co-operation and Development), will be the 5th largest economy in the world by 2045, and offers great opportunities to Malaysian investors to invest in Indonesia and grow together with Indonesia,” said Bambang.

The event also presented a number notable speakers including Assistant Deputy for Investment Acceleration Strategy and Policy at the Coordinating Ministry for Maritime Affairs and Investment, Ferry Akbar Pasaribu; Head of the Indonesian Investment Promotion Center in Singapore Andria Buchara; Kuala Tanjung Industrial Estate Business Director, Saut Fransiswoyo Siagian; and the Medan Industrial Park Development and Operations Director, M Hita Tunggal.

Ministry of Investment (BKPM)
Investment Coordinating Agency
Email: info@bkpm.go.id

Entrepreneur Day and Start-up Express help innovators adapt to the post-pandemic era

Guiding entrepreneurs through maturing ecosystem

Seeking a balance between the youthful enthusiasm of start-ups and steady performance of established firms has become a key issue for Hong Kong, as its entrepreneur ecosystem matures. The HKTDC Entrepreneur Day (E-day) and Start-up Express International, organised by The Hong Kong Trade Development Council (HKTDC) and held at the Hong Kong Convention and Exhibition Centre (HKCEC), brought together industry leaders, experts, start-ups and participants to discuss the shift towards sustainable and inclusive growth within the international start-up universe and how start-ups can address the pressing challenges of the post-pandemic era. The three-day E-Day ran from 30 November to today and included the debut of the Start-up Express International entrepreneurship development programme.

Under the theme “Balance Beyond the Boom”, the E-day attracted over 9,000 attendees and viewers from 44 countries and regions to the hybrid exhibition and seminars
To celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, E-day incorporated the 12th World SME Summit, co-organised by the Hong Kong General Chamber of Small and Medium Business
Overseas start-ups from Mainland China, Germany and Korea discuss health tech trends with three Hong Kong Start-up Express winners

Under the theme “Balance Beyond the Boom”, E-day and Start-up Express International offered physical and online seminars and exhibitions. More than 60 industry experts and renowned speakers analysed venture capital trends, offering insights on emerging industries and strategies for business expansion in a post-pandemic new normal through a series of forums, exhibitions, workshops and networking events. The event attracted over 9,000 attendees and viewers from 44 countries and regions to the hybrid exhibition and seminars.

HKTDC Assistant Executive Director Stephen Liang said: “E-day saw entrepreneurs from different sectors exchange their views on the various trends shaping the world of business. In particular, we are delighted that outstanding Hong Kong start-ups shone alongside their global peers at the pioneering Start-up Express International. The contest between local and international start-ups inspires enhanced business models and nurtures start-ups locally and globally. We believe E-day has served as an exceptional occasion to showcase Hong Kong’s supportive infrastructure for the incubation of young businesses which will surely attract even more outstanding start-ups looking to expand operations in Hong Kong.”

Fundraising in a competitive environment
Winning an investor’s trust takes more than just a compelling pitch. Gaining trust has become even more challenging during the pandemic, where investors are cautious with fund deployment. On the first day of E-day, Eric Manlunas, Founder & Managing Partner of Wavemaker Partners, shared how venture capital firms had positioned themselves amid heightened volatility in the plenary session T-Chat – Global VC Investment: Rise or Fall. Mr Manlunas offered guidance on how early-stage businesses can convince investors of their potential and thrive, especially when venture capital investors are cautious about expanding portfolios.

Innovators transform entrepreneurship and economy
As non-fungible tokens (NFTs) transcend their initial role as assets and have evolved into a marketing tool, more entrepreneurs are considering NFTs as core business functions. The seminar “NFT: Eye Candy or Key to Gold?” debated whether NFTs are pure gimmicks or can expand business in a concrete way. Representatives discussed the tangible impact NFTs had on brand value and how they boosted business opportunities.

Meanwhile, to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, E-day included the 12th World SME Summit, co-organised by the Hong Kong General Chamber of Small and Medium Business. Under the theme “Achieving re-industrialisation through innovation in the new era”, Herbert Chia, JP, Venture Partner of Sequoia Capital China, and Dr Denis Yip, CEO of ASTRI, discussed how small and medium-sized enterprises SMEs in Hong Kong could transform and re-industrialise via digitalisation and application of emerging technologies including 5G, IoT and metaverse.

The hot investment trend of sustainability has joined hands with innovation and entrepreneurship to promote a circular economy. The E-day gathered like-minded companies to explain creating sustainable supply chains, contributing to a more sustainable society. Melanie Kwok, Assistant General Manager (Sustainability) of Sino Group, outlined the Group’s experience in implementing sustainability strategies and how start-ups had helped the conglomerate achieve sustainability goals and created shared values. Ms Kwok said the Group was delighted to collaborate with two Hong Kong start-ups – archiREEF and Clearbot – to drive conservation and environmental protection in Hong Kong, and looked forward to more projects on sustainability.

Fresh start-ups meet regional names
On the final day, technology start-ups described their successful growth into regionally known brand names. For instance, Jong Yoon Kim, CEO of Yanolja, a leading Korean travel-tech unicorn, explained how it managed to ride out the COVID-19 storm as well as its plans to equip itself for a new wave of growth as international borders re-open. Mr Kim pointed out that big-tech companies such as Amazon, Netflix and Google had come to dominate many global industries but such a player had yet to emerge in the travel sector, presenting an opportunity for Yanolja to potentially fill that void. He also shared the vision and strategy to transform Yanolja into the world’s leading global travel platform.

Buy Now Pay Later (BNPL) is a short-term payment model that has grown in popularity among merchants and consumers, especially within the retail industry. In the afternoon, Trasy Lou Walsh, Regional Managing Director (SG, MY, HK, PH) of Atome, Asia’s leading BNPL brand, described the model’s landscape and its increasingly intense competitive environment as more credit card companies and banks joined the field to provide similar payment solutions to businesses.

Start-up Express International
To celebrate the fifth anniversary of the Start-up Express entrepreneurship development programme organised by HKTDC, Start-up Express International debuted on the second day of E-day, fostering discussions among innovative minds from all over the world across overseas start-ups and their local counterparts. The programme aims to encourage high-calibre foreign start-ups to set up in Hong Kong, and is supported by global partners from Belgium, Mainland China, Germany, Italy, Japan, Singapore, Korea, Turkey, the United Kingdom and the United States.

During Start-up Express International, 10 overseas winners shared the stage with eight Hong Kong Start-up Express laureates to discuss industry insights and their entrepreneurship journeys. The 10 global winners were selected by a panel of professional judges earlier. They are:

– inContAlert from Germany
– Contents.com from Italy
– Closer Inc. from Japan
– VegeSense; KnowCarbon; InxMed from Mainland China
– OTECH (Otsuka Technology) from Singapore
– AON from Korea
– MOBIQU from Turkey
– rThreat from the United States

A replay of the event, including highlights of the expo and forum, is available on-demand until 2 January 2023: https://eday.hktdc.com/conference/eday/en/programme

Websites
– HKTDC Entrepreneur Day: https://portal.hktdc.com/eday/en
– Start-up Express International: https://portal.hktdc.com/startupexpress/en/s/start-up-express-international
– Photo download: https://bit.ly/3FhlKCl

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
Please contact Hill+Knowlton Strategies:
Joyce Kwong, Tel: +852 6842 5929, Email: joyce.kwong@hkstrategies.com
Nannerl Yau, Tel: +852 6846 7888, Email: nannerl.yau@hkstrategies.com

HKTDC’s Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

Argus Research: Society Pass (Nasdaq: SOPA) Building a Loyalty-Driven E-Commerce Platform in Southeast Asia

Argus Research Co (Argus) issues Equity Research Report on Society Pass Incorporated (SoPa) (Nasdaq: SOPA), SEA’s leading data-driven loyalty, fintech and e-commerce ecosystem.

Click here to view the full Argus Research Co Equity Research Report. https://tinyurl.com/ycxymnxz

Summary Points:

  • Compelling fair value valuation. Applying a 4 times revenue multiple to its 2023E revenue run-rate forecast of $60 mn, adjusting for $23 million in net cash and estimating share count of 34 mn at 2023E, Argus arrives at a fair value estimate for SOPA of $7.50 per share.
  • Breakout year on year revenue growth in 3Q 2022. 3Q 2022 revenues were $2.1 mn, up from $83,000 in 3Q 2021, reflecting a rapidly accelerating platform rollout.
  • Accelerating 2022 and 2023 revenue projections. Argus forecasts 2022 revenues of $7 mn and 2023 revenue of $40 mn, driven by on-line travel booking and digital marketing. Argus forecasts Society Points to accelerate revenue growth with a revenue run rate of $60 mn by 2023E.
  • Healthy balance sheet. SoPa had cash of $23.0 mn and shareholders’ equity of $27.6 mn.
  • Significant onboarding of consumers and merchants. SoPa has amassed more than 3.3 million registered consumers and over 200,000 registered merchants/brands. Argus sees SoPa building critical mass in its user base to support it loyalty program.
  • Material revenue generating acquisitions. In 3Q 2022, Society Pass closed 4 acquisitions of consumer-focused businesses, highlighted by Singapore-based Gorilla Networks, a blockchain and web3 technology-enabled mobile telecommunications operator; Thoughtful Media, a Bangkok-based, social media platform; Philippines-based Mangan Group, which offers restaurant delivery services; and Nusa Trip, an Indonesia-based online travel-booking site.
  • Society Points loyalty platform rollout. SoPa integrates these diverse businesses by attracting and retaining customers through an open-loop loyalty program, Society Points, which is expected to launch in 1Q 2023. SoPa announced a partnership with CoinSmart to add crypto payments capabilities and integration with Stripe’s financial payment infrastructure, which simplifies payment flow, accepts payments in multiple currencies, and features anti-fraud technology.
  • Travel Vertical. In August 2022, SoPa acquired NusaTrip, the 1st IATA-accredited Indonesian online travel agency. Leveraging its first-mover advantage among Indonesian corporate and retail customers, NusaTrip has engaged with +80 million unique visitors, and onboarded more than 1.2 million registered users, 500 airlines, and 200,000 hotels globally.
  • Digital Marketing Vertical. In July 2022, SoPa acquired Thailand-based Thoughtful Media, a social commerce-focused Multi-Platform Network, which recorded revenues of $5.8 million in 2021 and uploaded over 675,000 videos with over 80 billion video views since 2010. The network of 263 YouTube channels has onboarded over 85 million subscribers. Argus sees digital advertising enhancing Society Points and SoPa ecosystem via data-driven marketing campaigns.
  • Food and Beverage Vertical. In July 2022, SoPa acquired Mangan, a Philippines local restaurant delivery service. Mangan has generated +100,000 app downloads and onboarded +500,000 registered consumers, +80,000 social media followers, and +1,200 registered restaurants.
  • Telecommunications Vertical. In June 2022, SoPa acquired Singapore-based Gorilla Networks and will incorporate Gorilla’s blockchain/web3 technology onto its ecosystem. Consumers can convert unused mobile data into digital assets that can be redeemed for eVouchers or other VAS.

About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SCIB Posts 14.5% Increase in Revenue to RM30.3 Million in 1Q FY2023

  • Company sees LBT narrow by 65.3% and revenue contribution from manufacturing increase by 26.8%

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company registered a 14.5% increase in revenue to RM30.3 million for the first quarter ended 30 September 2022 (1Q FY2023) compared with RM26.5 million in the corresponding quarter of the previous financial year (1Q FY2022).

Group MD and CEO of SCIB, Encik Rosland bin Othman
Independent Non-Executive Chairman, Encik Shamsul Anuar bin Ahamad Ibrahim

For the quarter under review, SCIB’s loss before tax (LBT) narrowed by 65.3% to RM942,000 compared with LBT of RM2.7 million in 1Q FY2022.

On a segmental basis, revenue contribution from manufacturing increased 26.8% to RM24.2 million in 1Q FY2023 compared with RM19.1 million in the corresponding quarter of the previous financial year while revenue contribution from the engineering, procurement, construction and commissioning (EPCC) business decreased 16.9% to RM6.2 million from RM7.4 million.

Group Managing Director of SCIB, Encik Rosland bin Othman, said, “The manufacturing business continues to be the mainstay in the quarter under review. It has also returned to profitability as there was a profit before tax of RM1.0 million compared with LBT of RM217,000 in 1Q FY2022 mainly attributable to the increase in revenue and contribution margins from the sales of concrete products and lower administrative expenses. The EPCC business saw a slight decline and while there was a loss, profitability actually improved as a result of lower administrative expenses.”

“We remain cautiously optimistic as we leverage on our strengths as the largest precast concrete and Industrialised Building System (IBS) manufacturer in Sarawak and Sabah to continue seeking opportunities in Peninsular Malaysia and Indonesia focusing on small-to-mid-sized infrastructure for water, electricity, roads, health and education projects.

Chairman of SCIB, Encik Shamsul Anuar bin Ahamad Ibrahim added, “We view favourably Sarawak Economic Development Corp’s successful tender of the RM448 million System Package Two contract for the Kuching Urban Transportation System project phase one as such projects have positive spillover for the state economy.”

“The Company recently unveiled an IBS sample house built with 3D printer technology to showcase the important role technology has and will continue to have in the construction industry. These technology initiatives will play an increasingly important role for us as we transform to meet the challenges of the present and the future,” En. Shamsul Anuar said.

The Company also announced separately on the stock exchange that SCIB and its wholly-owned subsidiaries, SCIB International (Labuan) Ltd., SCIB Properties Sdn. Bhd. and SCIB Industrialised Building System Sdn. Bhd, have issued notices of termination to four clients to mutually terminate contracts with them.

En. Rosland said, “The Company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB’s interests in mitigating the risks arising from the long-overdue debts owing by the clients or the slow or non-movement of progress for projects that these clients have undertaken due to uncertainties arising from the COVID-19 pandemic as well as the economic and political situations. We also made this decision after reviewing and updating the Company’s order book records to reflect the current situation.”

As of 30 November 2022, SCIB has an order book of RM564.7 million with earnings visibility until 2026.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my