Category: Real Estate

Thailand’s CP Group Selects Anacle’s Simplicity Commercial Real Estate Solution for Lotus’s

Anacle Systems Limited (“Anacle“) has been selected by Thailand’s Charoen Pokphand Group (“CP Group”) after a rigorous vendor selection process to implement Simplicity® Commercial Real Estate Management (CommREM) solution for the Lotus’s subsidiary.

Lotus’s currently operates the largest retail chain in Thailand, with more than 2,000 stores and 46,000 tenants. Lotus’s will leverage the sophisticated Simplicity® software to streamline its operations and fully automate the financial, tenancy, customer relationship and utilities management processes.

“Asset managers are constantly pressured to deliver yield in this rapidly evolving market but many lack data or capabilities to perform analytics. Simplicity® is the most comprehensive solution designed to address the pressing need for end-to-end streamlined systems and big data analytics. Anacle is honored to be selected by Lotus’s and we are committed to help the brand achieve its goal in this challenging market,” said Alex Lau, CEO of Anacle Systems Limited.

About Anacle Systems Limited

Anacle is a leading provider of asset and property management software, as well as smart utilities management systems. Headquartered in Singapore with research centers in Pune, India and Hangzhou, China, we are accredited by the Infocomm Media Development Authority (IMDA) under the Accreditation@SGD program which provides an independent and rigorous third-party evaluation of the company’s core capabilities such as product functionality, financial management, and operations. The accreditation affirms the quality, business sustainability and scalability of our products.

For more information about Anacle, please visit https://www.anacle.com.

About Charoen Pokphand (CP) Group and Lotus’s

The CP Group is a privately held Thai conglomerate and one of the world’s largest privately owned companies. It has operations across various industries including agriculture, automotive, real estate, retail, telecommunications, finance, ecommerce and pharmaceutical.

Lotus’s is the leading retail chain operated by the CP Group. Established in 1994, Lotus’s now serves their customers with over 2,000 stores and online channels in Thailand.

For more information about the CP Group, please visit https://www.cpgroupglobal.com.

For more information about Lotus’s, please visit https://www.tescolotus.com/en.

For any media enquiries, please contact:
Jo-anne Sng
joanne.sng@anacle.com
+65 6914 2666

Hektar REIT Posts Rm26.78 Million Revenue in 1Q

– Outlook for retail remains challenging
– Second MCO weighed on mall visits and consumer spending
– Management remains vigilant in monitoring recovery

Hektar Asset Management Sdn. Bhd., the Manager for Hektar Real Estate Investment Trust (Hektar REIT), today announced the first quarter results ended 31 March 2021 (1Q 2021).

Hektar REIT recorded revenue of RM26.78 million, which is 12.8% lower than the RM30.71 million recorded in the same quarter of the preceding year. The reported revenue fell mainly due to the rental income, carpark income, and lower hotel occupancy, consistent with other retail and hospitality REITs that were affected because of the pandemic outbreak and implementation of mobility restrictions. Net property income of RM14.09 million for the quarter decreased by 10.3% compared to the RM15.71 million recorded in 1Q 2020. Realized income for the quarter was RM6.52 million, which is 7.9% lower than the RM7.08 million recorded in 1Q 2020. Earnings Per Unit (“EPU”) of 1.41 sen was recorded for the first quarter.

Dato’ Hisham bin Othman, Chief Executive Officer of Hektar Asset Management Sdn. Bhd, commented: “The retail front continues to be really challenging due to the rise in COVID-19 infections. Despite most businesses being allowed to operate under the second movement control order (“MCO”) from mid-January to early March, a combination of movement restrictions and fear of infection has affected visitor footfall in malls.”

“Retail sales growth has also been affected due to the second MCO, with Retail Group Malaysia estimating sales growth of 4.1% for 2021 compared to the earlier estimate of 4.9%. With the rise in COVID-19 cases, the Government published the first list of premises flagged as potential COVID-19 hotspots that were identified through the Hotspots Identification for Dynamic Engagement (“HIDE”) system. Many prominent shopping malls in the Klang Valley, which included Subang Parade, were listed under HIDE and were required to temporarily close for 3 days to undergo sanitization upon the directive from the Government from 9 May to 11 May 2021. The recent imposition of the third MCO is expected to further affect the retail sales growth with restrictions on no dine-in for F&B outlets and closure of beauty services and entertainment outlets.”

“However, we expect the economic recovery to accelerate as consumer sentiment improves over the second half of 2021 as more people get vaccinated. We will continue following the stringent SOPs by the Government and engage with our tenants across the portfolio to help promote their business while ensuring the health and safety of all visitors, tenants and employees remain our top priority”.

About Hektar Real Estate Investment Trust

Hektar Real Estate Investment Trust (“Hektar REIT”) is Malaysia’s first listed retail-focused REIT. The primary objectives of Hektar REIT are to provide unitholders with sustainable dividend income and to achieve long-term capital appreciation of the REIT. Hektar REIT was listed on the Main Market of Bursa Malaysia Securities Berhad on 4 December 2006 and currently owns 2 million square feet of retail space in 4 states with assets valued at RM1.2 billion as at 31 December 2020. The REIT’s strategic partner is Frasers Centrepoint Trust, part of Frasers Property Ltd, headquartered in Singapore. Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd. Hektar REIT’s portfolio of commercial properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor. For more information, please visit www.HektarREIT.com

Contact:
Muhammad Hakim
Swan Consultancy
M: +60 12 318- 5410
E: h.juraimi@swanconsultancy.biz

E-House’s open strategy to acquire an 85% stake in Tmall Haofang

On April 28, E-House China Enterprise Holdings Co., Ltd. (HKG:2048) announced it had acquired an 85% stake in Tmall Haofang, through an issue of 248 million new E-House shares to Alibaba (NYSE: BABA; 9988.HK). At HK$ 7.50 per share, it was the equivalent to an acquisition at HK$ 1.86 billion.

At the same time, Alibaba, E-House founder and chairman Zhou Xin, and Alibaba’s Yunfeng Fund invested HK$ 990 million, HK$ 1 billion and HK$ 500 million respectively at the price of HK$ 7.50 per share to subscribe to 132 million, 133 million and 66.67 million new shares of E-House.

On completion, Tmall Haofang will become a wholly-owned subsidiary of E-House, while Alibaba will continue to grant exclusive Tmall permits to Tmall Haofang including the name, domain name, trademark and other brand attributes, and simultaneously provide technical, product, data, operational and other means of support.

In terms of shareholding ratio, Zhou Xin will hold 22.84% shares of E-House to remain its largest shareholder, while Ali with 22.57% becomes the second-largest shareholder, and Yunfeng Fund 2.86%. Zhou Xin, as Chairman of the E-House Board of Directors, officially wrote an open letter “Hello, Tmall Haofang!” A few words were highlighted for the outside world: “After cooperation and upgrading, E-House will emphasize the three pillar businesses of Tmall Haofang: new housing transactions, a new housing agency and Kerry Big Data.”

This means that E-House will venture into the Internet transaction platform as a new housing agency and real estate big data and consulting service. It isn’t an exaggeration to say Alibaba has provided E-House with more than support, not only in the transfer of Tmall Haofang, but also by increasing its E-House shareholding, and by providing exclusive authorization, technology, products, traffic and many other means of support. It is evidence of Alibaba’s belief in the prospects of E-House successfully transforming imagination into market reality.

In fact, we see from experience with Lianja’s Shell Search online real estate brokerage that platforms are valued against their potential to develop, as seen by higher valuations in the capital market. According to the data, Lianjia’s annual sales were RMB 1 trillion in 2017, but by 2020, sales with Shell’s ACN (Asian Cooperative Network) reached RMB 3.5 trillion, and Lianja’s market cap exceeded USD 60 billion.

Real estate transactions have exceeded 20 trillion yuan nationwide. Yet there remains much potential and opportunity for integration, and another big player is venturing in. Zhou Xin said in his open letter, “This is an important milestone for the domestic real estate service industry and E-House.” When “There are good houses on Tmall” has changed to “To buy good houses on Tmall”, E-House strategy has evolved into an online real estate transaction platform, and the digitalization of real estate has also accelerated.

01. Build a new digital infrastructure of real estate

Since its founding more than two decades ago, E-House has been deeply involved in the real estate industry, from a new housing agency service initially to a real estate big data consulting service and then to a real estate brokerage platform. For most of that time, E-House’s core business was traditional real-estate agency services. According to the 2020 financial report, 32.9 million sq.m were successfully brokered via E-House for sales of RMB 405.6 billion, accounting for about 40% of E-House revenues.

However, from 2016 it was gathering a large number of medium and small to micro brokerage firms on the Fangyou platform, while launching a series of products such as the Youfang market resources sharing platform and Youfangtong and E-House Fangyou Management System vigorously promoting online and interactive new and pre-owned housing brokerage business, stimulating a rapid increase in the proportion of e-revenue.

2020 was the turning point for E-House. With the COVID-19 pandemic, online real estate transactions were ascendant. In November 2020 E-House completed the acquisition of Leju Holdings Ltd (NYSE: LEJU), a digital real estate media and online transaction platform, which had become a key ecological link for E-House in building a closed loop in which to complete real estate transactions.

And then came Alibaba. Working together with deep cooperation for online and offline real estate transactions, digital marketing and post-transaction services, E-House and Ali jointly launched the “Real Estate Transaction Collaboration Mechanism” (ETC), which is equivalent to, but more open and efficient than ACN brokerage system of Shell. From the results of promotion and operation across China, a new win-win brokerage ecological system is growing rapidly.

According to statistics, during 2020 double eleventh festival, a total of 41,775 transactions were cumulatively achieved via the ETC collaboration mechanism with a transaction volume of 93.1 billion yuan in 236 cities nationwide.

It is understood that around real estate transactions, E-House faces real estate developers, intermediaries and asset proprietors, and promotes the digital upgrade of real estate transactions and operations with the help of Cree Big Data, Fangyou brokerage platform, Leju, etc. and strives to gradually build new infrastructure in the domain of real estate.

Under the background of “three red lines”, it is more difficult for developers to yield profits, and even the marketing expenses of some projects have been as high as 5%. The digital new infrastructures have brought a new possibility for the whole industry. All these are regarded as the efforts of E-House in real estate digitalization, and gradually reveal the unique value of E-House in the domain of real estate. The cooperation between E-House and Ali shows E-House’s professional and resource advantages in the domain of real estate transactions, which directly paves the way for E-House to acquire Tmall Haofang to venture into the real estate online transaction platform.

02. Layout of real estate internet transaction platform

The real estate transaction platform is a more valuable and imaginative domain. An evidence is the striking transformation from Lianjia to shell platform, which lays a direct foundation for a higher premium in the capital market.

From the perspective of industry scale data, the huge real estate transaction market will continue to grow up to approximately 25 trillion yuan in the coming three years according to the National Bureau of Statistics. If the marketing expenses of new and pre-owned housing is calculated at the rate of 2.5% and 1.5% of the transaction volume respectively, the overall market capacity of real estate marketing expenses will reach 500-600 billion or so.

The cooperation between Tmall Haofang and E-House marks that a new pioneer will be ushered to the broad market. The advantages of both sides open a window for complementary win-win cooperation to bring great expectations to the entire industry.

In fact, many intermediaries and developers expect to build their own real estate transaction platforms. However, due to the difficulty in seeking customers, insufficient housing resources, real and false housing resources, interest conflict among brokers and many other challenges, it is difficult for most of them to set up a large real estate transaction platform.

However, Tmall itself is a B2C mall, with monthly active users over 50 million. The sufficient traffic is helpful to alleviate the difficulty in seeking customers. From Ali’s practice in the vertical field, it has successfully built Ali Health and Tmall Haofang is regarded as another practice of Ali in the vertical field of real estate, attracting more optimistic expectations from the outside world.

Tmall Haofang has built a real estate transaction platform to address the problems that exist in the transaction process by using Ali’s system and technical solution. Small, medium and micro-stores, brand owners, property service providers, etc. can participate in the transaction service, chain commission sharing and fund supervision online, so that the transaction will be “simple, efficient, fair and open”.

While E-House gives full play to the advantages of housing and brokerage companies. For E-House, E-House has been dedicated to the domain of new housing service for many years, and established a good relationship with developers as well as vast small and medium-sized brokerage stores.

Among them, the close ties between E-House and real estate enterprises can be confirmed from the shareholders when E-House went public. As shown in the prospectus, 26 out of the top 100 real estate enterprises in China subscribed for their shares respectively. By the end of 2017, the first-hand housing sales network of E-House has covered domestic 186 cities, and entered into long-term strategic partnership with dozens out of the top 100 real estate enterprises.

Meanwhile, for medium, small and micro brokerage firms across China empowered by asset-light strategy, E-House has built an overall resource pool for 10,000+ stores, 30,000 channels and 10,000 communities. In addition, the E-House ETC model is more open and fair: customers can have access to the housing resources directly so efficiency can improve significantly; channel dealers expand customer resource channels and find solutions to lost orders, commission sharing and various other problems; and buyers will have improved efficiency of housing inspection and an optimized transaction process.

It is undoubted that the difficulties in building a large platform for real estate transactions have been solved little by little under the joint efforts of E-House and Ali. The prospects of this acquisition rely more on the capacity of implementation. As Zhou Wei said in his open letter, Tmall Haofang will “build a new digital infrastructure for real estate marketing, empower brokerage firms and millions of brokers, and contribute to promoting the digitalization and intelligence of the real estate industry in an all-round manner, so that no difficulties will exist in real estate transactions”.

For this reason, after reaching a deal with Ali, Zhou Xin set in his letter to employees the target of 3 million DAU, 2000 billion GTV2 and 50 billion yuan revenue in the next three years. From his target, Zhou Xin is confident in the prospects of Tmall Haofang.

As indicated in 2020 annual report of E-House, the GTV of real estate agency service and real estate brokerage network service reached 513.4 billion yuan, with a total income of 8.0515 billion yuan and a profit of 439.2 million yuan in 2020. GTV and revenue are expected to increase fourfold and sixfold respectively in the next three years. It means that the compound growth rate of E-House’s revenue in the coming three years will be 84.2%. Compared with this growth rate, E-House’s current estimated value of more than 40 times is obviously underestimated.

It is not difficult to imagine that with the investment and promotion on Tmall Haofang, the income composition and profit structure of E-House will change accordingly in future. And meanwhile, the valuation system will be reconstructed after the quantitative change finally leads to qualitative change.

Media Contact
Haolu Wang, Peanutmedia
E: wanghaolu@czgmcn.com
Website: Peanutmedia.com

Fajarbaru upbeat on property segment’s outlook in Malaysia and Australia

The Group also proudly announced the completion of its first residential project in Malaysia – Rica Residence @ Sentul.

Fajarbaru Builder Group Bhd, a Bursa Malaysia Main Market listed company primarily involved in construction and property development, is upbeat on its property segment’s outlook in anticipation of the economic recovery supported by the National Covid-19 Immunisation Programme.

The company is also looking to launch new property projects towards second half of this year once market conditions improve.

The Group recently completed its maiden development Rica Residence @ Sentul on schedule, and started handover in mid-March this year. The handover was originally due to kick off up to 3 months earlier, but was delayed due to MCO restrictions.

Fajarbaru Group Chief Executive Officer Dato’ Sri Eric Kuan Khian Leng said: “The property division remains a significant revenue generator for the Group in addition to our core business in construction. We have property development interest not just in Malaysia but in Australia as well. Although the Covid-19 pandemic has certainly affected the property segment, there are positive signs that market conditions will improve and we can capitalise on it as long as we adapt and innovate accordingly.”

Rica Residence @ Sentul, which has a gross development value (GDV) of RM292.49 million, is Fajarbaru’s maiden property development in Malaysia. Despite coming from a ‘construction-based’ background, the Group’s property development segment under its wholly-owned subsidiary Fajarbaru Land has made good on its promise of quality to its first customers and delivered extra value to buyers with the instalment of polyurethane (PU) flooring for its carparks as well as 3 electric vehicle (EV) charging stations.

The latest take-up rate of Rica Residence @ Sentul stands at 82% (including booking). On the balance units, he said, “We are currently in the midst of releasing the remaining developer units. We believe there will be a strong take-up after MCO – the near-completion of the MRT2 in 2022 is also a positive boost for us to do so smoothly. We target to sell off the remaining units by end of 2021.” “Once market condition improves, we will also look into the possibility of launching the Rica Residence @ Kinrara project in 2021 which will be based on a condominium development concept.” Eric noted.

Meanwhile in Melbourne, Australia, the Group reported that its AUD182.84 million GDV Paragon Queen Street development was completed recently. Its latest take-up rate stands at 93%, and the developer is fairly confident of the sales of the remaining units in its project which has won awards in the Asia Pacific Property Awards 2018-19 and iProperty Development Excellence Award 2019.

This is Fajarbaru’s second development after the success of its first sold-out project called ‘Gardenhill’ in Melbourne in 2017. The Group is now on to its third development here, a project comprising 15 residential two-storey houses along Merri Creek in Northcote, Melbourne.

“The construction from Northcote has not yet started, but it is scheduled for a soft launch sometime in mid-2021 and the interest has been encouraging due to the location. This project will increase our presence in the property market in Melbourne, Australia and expand the Group’s earning base,” said Eric. The estimated GDV for the Northcote development is approximately AUD40.20 million.

Going forward, Fajarbaru is looking into expanding its local property development footprints not just in the Klang Valley, but also into Penang and Putrajaya once the economy fully reopens. Eric reckons that for projects in prime locations, high-end landed property development will be viable but the market demand for affordable housing and family upgraders cannot be neglected.

The Group will continue exploring landbanks in locations that can generate income for now, and be on the lookout for potential joint-ventures to develop properties in Malaysia and Australia. Fajarbaru is cautiously optimistic on the growth prospects of its property development segment in 2021 and beyond in line with the expected recovery of market conditions.

The Place Holdings’ Land Site at Mount Yuntai Tourism Township Revalued at RMB 481 Million, a Substantial Increment in Value of 329%

The Place Holdings Limited (“The Place Holdings”, the “Company” and together with its subsidiaries, the “Group”), an SGX mainboard-listed company with a primary focus on integrating traditional businesses and new growth opportunities in the digital economy, is pleased to announce that the land site, held by its subsidiary Tianjie Yuntai Wanrun (Xiuwu) Property Development Co., Ltd. (“Tianjie Yuntai Wanrun”), has been assessed and revalued at RMB 481 million by one of China’s leading valuation companies, WorldUnion Property Assessment Co., Ltd.

Compared to the valuation of the land site of RMB 112 million as at 30 September 2020, the revaluation of RMB 481 million after the change in zoning represents a substantial increment in value of RMB 369 million, which is an increase of 329% from RMB 112 million.

The size of the land site is approximately 270,500.64 square metres. It is strategically located within Mount Yuntai Tourist Township, where hospitality properties, wellness resorts, integrated retail and commercial developments and theme parks are been planned and some are currently under development.

The revaluation of RMB 481 million of the land site is primarily based on the change in zoning from commercial to residential and it also take into consideration the increase in land-use rights assigned to the land from its existing 40 years to 70 years, larger buyer group and as well as the current developments and completed infrastructure surrounding the area.

Mount Yuntai Tourist Township is located at the entrance of Mount Yuntai, which is approximately 70km from Zhengzhou City, the provincial capital of Henan Province in the PRC.

Highly accessible and connected via various transportation networks, Mount Yuntai Tourist Township is just a 20 minutes ride from Jiaozuo high-speed rail station and a 45 minutes drive from Zhengzhou International Airport.

Mount Yuntai is a tourist site with the highest “AAAAA” rating under the Tourism Attraction Rating Categories of China. Mount Yuntai is also listed as one of the National Parks of China and as a geological park in the Global Geoparks by the United Nations Educational, Scientific and Cultural Organization. In 2019, approximately 6 million visitors visited Mount Yuntai.(1)

Tourism has become an essential contributor to China’s domestic economy and it is a cornerstone of the government’s long-term goal to create a consumption-driven economy. The emergence of an affluent middle class and an easing of movement restrictions for locals and foreign visitors are both supporting this domestic travel boom.

According to China’s Ministry of Culture and Tourism, travelers made 102 million domestic trips during the annual holiday (over an extended three-day weekend) in April 2021. The figure was 94.5% of the number of trips made during the holiday in 2019, the year before COVID-19 hit.(2)

Under the leadership of Executive Chairman, Mr Ji Zenghe and Chief Executive Officer, Mr Fan Xianyong and combined with their deep property development experience and long-standing business track record, The Place Holdings has established a business model that integrates omni-channel strategies and innovative business concepts (such as “new-retail” solutions, last mile logistics, immersive virtual reality technology, enterprise intelligent connectivity) within its 3 core business pillars that include property, cultural tourism and integrated media-related businesses to create new value propositions.

Mr Ji Zenghe, Executive Chairman of The Place Holdings, said, “While China’s giant middle-class continue to grow rapidly, the hectic lifestyles of Chinese consumers have spurred significant opportunities in the tourism and wellness industries.

In addition, the COVID-19 pandemic has created pent-up demand for travel and cultural immersion activities in China.

With Mount Yuntai’s strategic location that is within an hour’s drive from a catchment zone of nearly 40 million people, the substantial increment in value of our land site from the revaluation highlights the underlying value and strong prospects of Mount Yuntai Tourist Township.

Integrating new digital solutions with traditional property development approach, there is strong potential for us to create new value propositions with our land site that caters to the demand for quality accommodations at Mount Yuntai.”

(1) http://travel.ce.cn/gdtj/202011/03/t20201103_7290941.shtml
(2) s.nikkei.com/2QYfAk7

This document is to be read in conjunction with The Place Holdings’ exchange filings on 5 May 2021, which can be downloaded via www.sgx.com.

About The Place Holdings Limited (SGX Code: E27)

Listed on the Mainboard of the Singapore Exchange, The Place Holdings Limited (“The Place Holdings”, the “Company” and together with its subsidiaries, the “Group”), focuses on integrating traditional businesses with omni-channel strategies and digital solutions (such as “new-retail” solutions, last mile logistics, immersive virtual reality technology, enterprise intelligent connectivity) to harness new growth opportunities in the digital economy.

The Group has established a strong business platform to create new value propositions within its 3 core business pillars:

1. Property development and property management activities
2. Cultural tourism and related “new retail” businesses
3. Integrated media-related businesses with management & operation rights

The Group is backed by the key management team of The Place Investment Group, a multi-billion PRC conglomerate that has a strong track record for its extensive business portfolio in tourism, media, property management, biomedical technology investments and international trade.

Embolden with a new business approach and forward-looking corporate culture, The Place Holdings is expanding its business presence with high growth businesses in Singapore and China through organic and inorganic initiatives.

For additional information, please visit www.theplaceholdings.com

Issued on behalf of The Place Holdings Limited by 8PR Asia Pte Ltd.

For further information, please contact the following:

Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Mr. Zhang Wei
IR Director
The Place Holdings Limited
Tel: (65) 6781 8156
Fax: (65) 6781 8159
Email: zhangwei@theplaceholdings.com

KONE Redefines the Future of Smart City in Singapore with its DX Class Elevators — the World’s First Elevator Series with built-in Digital Connectivity

KONE, a global leader in the elevator and escalator industry, recently hosted a Customer Experience event in Singapore to showcase the world’s first digital elevator series. The Customer Experience event was held on 22 April 2021 at the National Gallery of Singapore. This was supported by key innovative partners such as Gaussian Robotics, Habitap, G Element and Blindsquare, to bring new user experiences to life through a combination of design, technology, new materials, apps and services.

Aimed at supporting Singapore’s vision to be a sustainable smart city through enhanced eco-efficiency, performance, and aesthetics, KONE DX Class elevators have built-in connectivity as standard. KONE DX Class revolutionizes the role of elevators in future smart buildings: the elevator is no longer merely a way to travel between floors, but an integral and integrated platform that offers intuitive, ambient and connected experiences that extend from the lobby throughout the building. For KONE customers such as infrastructure developers and building owners, a key advantage is the ability to have access to future-proof solutions, where elevator experiences are adapted and upgraded for different needs.

“We are excited to introduce the world’s first digitally-connected elevators — enhancing building value along with our larger ecosystem of partners in the region,” says Mikko Bjork, Managing Director, KONE Singapore. “Not only does the DX Class elevator series bring convenience to customers and users, it also offers a chance for us to secure a green, liveable, and sustainable city for future generations to live in.”

The new KONE DX Class enables customers to tailor and plug in additional software and services for elevators throughout the entire lifetime of a building. By using open application programming interfaces (APIs), KONE’s approach makes it easy to manage and integrate different devices, apps and services with new and existing systems. For elevator passengers this brings a host of new, multisensory experiences inside the elevator, combining physical hardware and digital services. These can be customized according to individual needs and preferences, bringing new levels of ease and convenience.

“We have been working with KONE on distinct, cutting-edge lift integration capabilities that use autonomous cleaning robots to navigate and clean multiple floors in a building by itself,” says Kevin Lee, Business Development Director Gaussian Robotics. “The goal is to always provide a safe and clean work environment for tenants and employees in the building.”

Every KONE DX Class elevator provides:

  • The option for customers to easily and remotely activate digital services when they need to, including KONE 24/7 Connected Services and KONE Residential Flow.
  • Secure APIs for third-party solutions, which create new and exciting services. KONE is also announcing agreements with a number of companies, such as Blindsquare; Gaussian Robotics; Habitap; G Element; and more, to bring new levels of sophistication to the people flow experience.
  • A whole new variety of design options and innovations, including anti-stain, anti-scratch, and anti-bacterial surfaces.
  • Advanced dynamic display, sound and lighting options to transform the ambianceazx and interior.
  • A range of sustainable materials to meet green building criteria like BREEAM and LEED.

“KONE is merging technologies of today with existing infrastructure to create smarter and more intelligent buildings — supporting the growth of sustainable cities with a purpose,” says Samer Halabi, Executive Vice President of KONE APAC. “Combining new products and services over the lifetime of a building can be very powerful, and the KONE DX Class makes elevator journeys more enjoyable and sustainable.”

The new KONE DX Class elevator series is ideal for customers looking to modernise existing equipment with enhanced eco-efficiency, performance, and aesthetics. The KONE DX Class will replace the current KONE elevator range.

Read more:
Read more about KONE DX Class elevators: https://www.kone.com/en/products-and-services/elevators-escalators-automatic-doors/kone-dx-class-elevators.aspx
For images and videos, visit KONE’s Material Bank: https://materialbank.kone.com/content/kone-material-bank/search_page.html
Watch the mind-controlled elevator video: https://youtu.be/kUHl9MhgA6M
Connecting more than floors to tickle your senses: https://www.kone.com/en/news-and-insights/stories/connecting-more-than-floors-to-tickle-your-senses.aspx

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow(R), we make people’s journeys safe, convenient and reliable, in taller, smarter buildings. In 2020, KONE had annual sales of EUR 9.9 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.kone.com

UN youth envoy to open volunteer conference supporting Habitat for Humanity’s COVID-19 response

The United Nations Secretary-General’s Envoy for Youth, Jayathma Wickramanayake, will deliver the opening remarks during the “Youth from Home for Homes” virtual conference, the peak of the 2021 Habitat for Humanity Young Leaders Build campaign. Over a hundred youth from the Asia-Pacific region have registered for the event, which also marks a decade of youth volunteerism for the cause of safe, affordable housing.

“Young people are the backbone of society, and our only hope in creating a better world and a better future for all. But youth cannot do it alone. It is pivotal that young people be included as full-fledged partners in all decision and policy-making that affects their lives and futures, including SDG 11, target 1 on access for all to adequate, safe and affordable housing and basic services,” said Wickramanayake.

Joining the UN youth envoy for the conference on April 24 are young leaders who will present highlights from their community-based projects in support of Habitat’s work during the pandemic. These include raising funds to build core houses in Sri Lanka and advocating for affordable housing among local government officials in the Philippines.

“Many in our community lost their jobs and livelihoods but we want to support our community and keep it healthy during the pandemic,” said Kim Claire Darugo, a Filipino volunteer. A member of Pasig 1 Community Youth Group, which is active in a neighborhood that Habitat helped build, she and her fellow volunteers are raising funds for hygiene kits to be donated to families in vulnerable situations in the Philippines.

Almost seventy volunteers from ten countries have started to implement multi-month projects under the Young Leaders Build campaign. The volunteers comprise of university students, young professionals and youth with vocations.

“We see young people negatively impacted by Covid-19 especially in the areas of education, opportunities and social contacts. In these unprecedented times of economic and social distress, I am inspired by the resilience of these 70 young leaders who have responded to the challenge to support Habitat’s vision of a world where everyone has a decent place to live,” said Luis Noda, Vice-President for Asia-Pacific, Habitat for Humanity International.

Other volunteer-led projects include providing cash and in-kind assistance for families in need to repair or build safe, healthy homes and the construction of community facilities such as handwash stations, solar lighting and urban gardens. Volunteers also plan to train other youth and their families on ways to protect their household from the coronavirus, promote mental health, and facilitate learning from home.

Since 2012, more than 17 million Habitat Young Leaders Build supporters have raised almost US$9 million to help more than 33,000 families achieve the strength, stability and self-reliance they need to build better lives for themselves. While the 2021 campaign peaks in April, the momentum will continue as youth groups and volunteers will continue their projects until 2022.

About Habitat for Humanity Young Leaders Build

Habitat for Humanity Young Leaders Build brings together youth from across the Asia Pacific region to support people and families in need of decent housing. Every young person volunteering, fundraising, raising awareness and adding their voices in support of affordable housing can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. The movement encourages youth to take the lead and motivate their peers to create societal changes by building homes and communities, on a Habitat build site and/or online through their social networks.

About Habitat for Humanity

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort. The Christian housing organization has since grown to become a leading global nonprofit working in more than 70 countries. In the Asia-Pacific region since 1983, Habitat for Humanity has supported millions of people to build or improve a place they can call home. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, donate or volunteer, visit habitat.org/ap.

For further information, please contact Ms. Angeli Alba-Pascual, AAlba@habitat.org, +63 920 956 3376, or Ms. Rona Azucena, RAzucena@habitat.org, +63 916 545 8310.

Register for the virtual conference on Aug 24, 11:30 a.m. SGT at https://bit.ly/YouthfromHome.

TEC named one of Asia’s fastest growing companies by the Financial Times

The Executive Centre (TEC), the leading premium flexible workspace provider across Asia Pacific and the Middle East, announced that it was ranked in the Financial Times Top 500 Asia-Pacific High-Growth Companies 2021.

“It is a great honour to be placed on the list and is a testament to our robust growth since our founding in 1994. In the last five years, we have doubled our footprint from 76 Centres to 150+ across Asia Pacific and the Middle East and our EBITDA has grown 43% from US$32.3 million in 2016 to US$46.1 million in 2019 across our key markets,” said Paul Salnikow, TEC Founder and CEO. “We have witnessed steady demand throughout the last year as the pandemic has led companies to preserve costs and seek more flexibility from their partners. As the office remains as an essential space to foster creativity and collaboration, we believe that more companies will adopt a flex-and-core strategy to allow greater agility to expand in tandem with business growth.”

TEC, which was ranked 409th on the list, saw its revenue surge from US$140.74 million in 2016 to US$235.75 million in 2019, registering an absolute growth rate of 67.5% and a CAGR of 18.8%.

The Financial Times and Nikkei Asia, in partnership with global data provider Statista, reviewed thousands of companies and ranked the top 500 companies headquartered in 13 countries in the Asia-Pacific region, which generated revenue of at least US$100,000 in 2016 and at least US$1 million in 2019. The enlisted firms were ranked by their compound annual growth rate (CAGR) in revenue between 2016 and 2019.

– FT Asia-Pacific High-Growth Companies 2021: https://www.ft.com/high-growth-asia-pacific-ranking-2021

About The Executive Centre
The Executive Centre (TEC) opened its doors in Hong Kong in 1994 and today boasts over 150+ Centres in 32 cities and 14 markets.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business’ needs.

For more information please visit https://www.executivecentre.com/

Press Enquiries

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Kitty Lam
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Commodities Intelligence Centre (CIC) Sees 26% Jump in Registered Customers in 2020

Singapore-based Commodities Intelligence Centre (CIC) – a Joint Venture between the ZALL Smart Commerce Group (ZALL), Singapore Exchange (SGX) and Global eTrade Services (GeTS) – has announced strong growth in FY2020, driven by the urgency for supply chains to digitalize during the pandemic. In 2020, the number of customers on the platform grew by 26 percent as compared to 2019 to reach 5800 registered users. Among the commodities traded on the platform include ferrous and non-ferrous metals, agricultural products, plastics and chemicals, and oil products. The total cumulative gross merchandise volume (GMV) on the CIC platform grew by over US$3.1 billion (S$4.1 billion) to reach US$13.4 billion (S$17.6 billion), an increase of more than 30 percent from 2019.

Peter Yu, Chief Executive Officer of CIC shared, “By making our platform and technologies affordable and easy to use, SMEs are able to easily onboard the platform and make use of these digital tools to grow their businesses. With global disruptions such as COVID-19 and the recent Suez Canal incident, we want to help SMEs build more sustainable and resilient businesses that can endure these challenging times as they grow and expand in Asia and to achieve greater trading synergies globally.”

According to the UOB SME Outlook Survey 2021, 34 percent of SMEs find digital adoption costly to implement, and yet companies who have digitally transformed one or more departments, or their entire business, have seen significantly higher revenue growth. One of the Singapore SMEs who have benefited from CIC’s platform is Go Holdings, a cullet supplier in Southeast Asia. Tapping on CIC’s business intelligence service DataPro, it has been able to access a wide database of over 2 billion records of customs and trade data from more than 110 countries across Asia, Europe and the Americas. This has allowed them to uncover new markets and diversify their trading operations, and connect with reliable partners and suppliers that align with their business goals. Alongside this, CIC also recently introduced a convenient Know-Your-Customer (KYC) service that helps SMEs with their due diligence to better manage their business risks.

Huang Zhi Rong, Business Development Executive of Go Holdings, shared, “As a general trading company from a traditionally offline industry, the thought of digitalization can be daunting and challenging as this is often costly and resource-intensive, and it takes up time and effort. However, digital platforms such as CIC, has allowed us to gain a competitive edge in the market, especially during the Covid-19 pandemic, by providing us with valuable market insights to guide our decision making and has enabled us to tap on the right information sources to strategize our business plans that have brought about profound changes to our import and export trade businesses.” Go Holdings is currently a subscriber of CIC’s DataPro services.

Over the past year, CIC has embarked on numerous initiatives to support SMEs in their digital transformation journey. In May 2020, CIC worked with Singapore Business Federation (SBF) to support SMEs under the “Rising in Support of Enterprises (RISE)” programme during the height of the pandemic. In December 2020, it has also jointly launched a “Digital Silk Road” initiative led by ZALL, and joined Singapore’s Blockchain for Trade & Connectivity (BTC) Network, which aims to help SMEs embrace the power of digitalisation to uncover new trading opportunities and to promote greater efficiency and transparency across global supply chains.

With sustainability becoming increasingly important for companies, CIC is also focusing more efforts to support commodity trading that contributes towards climate change and environmental sustainability, such as clean and renewable energy, as it aims to groom more than ten Global Commodity Champions over the next three to five years on the back of the world’s largest trade pact, the Regional Comprehensive Economic Partnership (RCEP) and China’s dual circulation strategy.

“At Go Holdings, we have also focused on environmental sustainability. Although it has not been an easy journey for us, we have taken steps to become a sustainable company, from our selection of partners and vendors that share our common values to our internal processes that promote the use of sustainable materials and culture of Reuse, Reduce and Recycle among our employees”, added Huang Zhirong of Go Holdings.

About Commodities Intelligence Centre (CIC)

The Commodities Intelligence Centre (CIC) is a global trading platform for physical commodities including Ferrous & Non-Ferrous Metals, Chemicals & Plastics, Oil & Petroleum, and Agri Commodities. Officially launched in Singapore on 12 Oct 2018, CIC is a Joint Venture between China-based ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX) to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore.

CIC aims to revolutionize commodity trading and facilitate cross-border trade through deal matching, trade finance, supply chain logistics, track and trace and global trade compliance. Since its establishment in October 2018, CIC has achieved a GMV (Gross Merchandise Volume) of more than US$13.4 billion (S$17.6 billion), with over 5,800 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia. For more information, please visit www.cic-tp.com.

For media queries
E: CIC@preciouscomms.com

Dubai-based Bin Zayed Group inks strategic partnership with Widad Business Group to jointly develop Widad@Langkasuka in Langkawi

Widad Business Group Sdn Bhd (WBG), an integrated facility management, property and construction conglomerate, has signed a Collaboration Agreement with Bin Zayed International LLC (BZI) to jointly develop the RM40 billion mixed-development project known as Widad@Langkasuka in Langkawi.

The signing ceremony held yesterday at Grand Hyatt Kuala Lumpur was witnessed by Prime Minister Y.A.B. Tan Sri Dato’ Haji Muhyiddin Bin Haji Mohd Yassin, Chief Minister of Kedah Y.A.B. Tuan Haji Muhammad Sanusi Bin Md Noor, Y.B. Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali, and Y.B. Widad Business Group founder and group executive chairman Tan Sri Muhammad Ikmal.

The agreement was signed by Widad Business Group executive director Dato’ Dr Rizal and Bin Zayed International Group Managing Director Sheikh Midhat Kidwai, paving the way for both parties to jointly develop and construct Widad@Langkasuka. They will also be working together to coordinate with the state government and relevant contractors and consultants concerning the infrastructural development, construction and other works comprised in the project.

BZI is part of the Bin Zayed Group of Companies, a Dubai-based conglomerate that specialises in construction and energy, trading and industry, real estate, technology and financial services. The company was first established in 1988 by Sheikh Khaled Bin Zayed Al Nahyan, a senior member of the Abu Dhabi royal family as well as a prominent business leader and philanthropist in the Gulf states.

Sheikh Khaled holds pivotal positions in several private and public organizations. Currently, he is Chairman of Injaz, a youth-centred non-profit organization, as well as President of the UAE Sailing and Rowing Federation. He previously served as Chairman of Tamweel, a Shariah-compliant property mortgage and finance corporation and Vice-Chairman of Dubai Islamic Bank.

Meanwhile, Widad Business Group is a wholly Bumiputera private company owned by Kedah-born Tan Sri Muhammad Ikmal Opat bin Abdullah, who is also a majority stakeholder of Bursa-listed Widad Group Berhad and Dataprep Holdings Berhad.

Tan Sri Muhammad Ikmal said: “Widad@Langkasuka is a development that is set to transform the landscape of Langkawi and the state of Kedah. For a project of such size and significance, it is important that we collaborate with a partner that possesses the necessary technical expertise and shares the same vision as we do. Therefore, WBG is honoured for the opportunity to work with Bin Zayed Group and Sheikh Khaled, and we look forward to combining our strengths to ensure its successful completion.

“The WBG-BZI strategic partnership demonstrates the great confidence in this high impact project, which will put Langkawi on the global map and transform it into a centre of regional and worldwide attractions,” he added.

To recap, the announcement of the project commencement was made in Kedah by Menteri Besar of Kedah Y.A.B. Tuan Haji Muhammad Sanusi bin Md Nor on January 20, 2021. It is expected to be completed within 15 to 20 years.

Worth an estimated gross development value of RM40 billion, Widad@Langkasuka is a modern development with an Islamic and tropical vernacular concept that will change the landscape of Pulau Langkawi and become the main attraction of the island. Currently, almost 90% of the 1,979 acre site consists of the ocean, therefore WBG intends to erect a man-made island which will eventually span approximately 1,000 acres or 50% of the entire area.

Once completed, Widad@Langkasuka will comprise tourism components such as five and six star hotel & resorts, an international golf course located beside the ‘Marina Yacht Club’, an international business and office complex, shopping malls, higher learning institutions, healthcare facilities and luxury residences. The Group also plans to organise annual events such as “Redbull Air Race”, “Power Boat Race”, “Jet Ski Race”, international fireworks festivals and other culture & art showcases to promote tourism here.

Issued by: Sense Consultancy on behalf of Widad Business Group

For further media enquiries please contact:
Jaz Ng
Tel: +6012 202 0096
Email: jaz@leesense.com

Anthony Lee
Tel: +6012 338 3705
Email: anthony@leesense.com