Tag: 8PR Asia Pte Ltd

Entry into 3-Year Lease for an Industrial Property in Singapore to Commence Production of Lab-Grown Diamonds

SGX-listed Metech International Limited (“Metech” or the “Company”, and together with its subsidiaries, the “Group”), is pleased to announce that its joint venture company, Asian Eco Technology Pte. Ltd. (“AET”) has entered into a 3-year lease agreement for an industrial property located at Kallang for the production of lab-grown diamonds.

Diamonds are more widely known to be used in jewellery but diamonds are also commonly used for industrial applications in oil & gas, medical equipment, aerospace, among others.

There are also continual discoveries of greater uses for diamonds in industrial applications, which could herald future electronics with powerful new properties that will enable next-generation military, aerospace and telecommunications applications(1).

Lab-grown diamond is chemically, physically and optically identical to a mined diamond, hence without the need for mining, lab-grown diamonds is a sustainable source of this important material.

According to the tenth annual report on the global diamond industry, prepared by the Antwerp World Diamond Centre (AWDC) and Bain & Company, global lab-grown diamond production reached 6-7 million carats produced in 2020 alone, with up to 60% of it manufactured in China. However it is still a very small market segment as compared to diamond mining, which peaked at 152 million carats in 2017 and currently stands at around 111 million carats(2).

Ms. Samantha Hua, Deputy Chief Executive Officer and Executive Director of Metech, said: “The establishment of our specialised and high-tech production facility for lab-grown diamonds in Singapore is a pivotal part of our business strategy.

Sustainability is a core focus for Singapore’s future development and we believe that the sustainability features of lab-grown diamonds and its increasing applications are aligned with the growth trends of the future.

Building on our current momentum, we look forward to expand our production capabilities in Singapore and grow our business presence globally.”

(1) https://medium.com/thelabs/diamonds-could-be-the-crown-jewel-in-future-electronics-40b1211e91a1
(2) https://www.bain.com/insights/global-diamond-industry-2020-21/

About Metech International Limited

(Bloomberg: CENR:SP / Reuters: METE.SI / SGX Stock Code: V3M)

Listed on the Singapore Stock Exchange, Metech International Limited (“Metech”) has a multi-pronged business model that aligns with the macro trends in the area of environmental and sustainability.

While proactively evaluating new business opportunities to broaden its business model, Metech continues to build on its capabilities and extend the value propositions of its business units.

Issued on behalf of Metech International Limited by 8PR Asia Pte Ltd.
Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

This announcement has been prepared by the Company and its contents have been reviewed by the Company’s Sponsor, RHT Capital Pte. Ltd. (the “Sponsor”) for compliance with the relevant rules of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Khong Choun Mun, Registered Professional, RHT Capital Pte. Ltd. at 6 Raffles Quay, #24-02, Singapore 048580, sponsor@rhtgoc.com.

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