Chin Hin Group Property to acquire 45% stake in Aima Construction for RM31.5 million

KUALA LUMPUR, Mar 10, 2021 – (ACN Newswire) – Chin Hin Group Property Berhad (CHGP; 7187), a Bursa Main Market listed company primarily involved in assembly and sales of new and rebuilt commercial vehicles as well as property development, announced today its proposed acquisition of 45% equity in Aima Construction Sdn Bhd ("Aima"), signifying its interest to venture into the construction industry.

L-R: Aima Construction Sdn Bhd Chairman Mr Khor Ooi Min, Aima Construction Sdn Bhd Managing Director Mr Khor Ken Yeon, Chin Hin Group Property Berhad Executive Director Mr Chiau Haw Choon, Chin Hin Group Property Berhad Chairman Datuk Seri Chiau Beng Teik posing for photos at the signing ceremony held this morning.

Aima has an established track record spanning over three decades mainly doing construction work for mid-rise and landed properties, completing approximately RM1.7 billion worth of projects since its inception. It is also a Grade 7 contractor registered with Construction Industry Development Board and is principally engaged in the business of construction, contractors, subcontractors. Its total order book value currently stands at RM320 million.

According to a filing with Bursa Malaysia, CHGP entered into a conditional share sale agreement with Uniplaza Sdn Bhd for the proposed acquisition of ordinary shares in Aima representing an equity interest of 45% for a consideration of RM31.5 million which will be fully satisfied via allotment and issuance of up to 35,795,400 new ordinary shares in CHGP at an issue price of RM0.88 per Consideration Share.

Barring any unforeseen circumstances, the Proposed Acquisition is expected to be completed by the third quarter of year 2021.

CHGP Executive Director Mr Chiau Haw Choon said: "Following the Proposed Acquisition, Aima will become an associate company of CHGP, and this will allow us to have an indirect access to the on-going and future projects of Aima. In addition, it will accelerate CHGP's expansion plan without an initial cash outlay as the Purchase Consideration will be fully satisfied via allotment and issuance of Consideration Shares. Ultimately, our goal is to transform CHGP into a major property and construction player – therefore this corporate exercise fits into our strategy perfectly."

He added that Aima will also be able to tap into CHGP's vast network in the property and construction industry to boost its construction orderbook.

Meanwhile, Aima Managing Director Mr Khor Ken Yeon stated: "This is a historic day for Aima, as we formally announce our desire to join forces with CHGP and take our business to new heights. Synergistic benefits are expected to arise from the Proposed Acquisition as both CHGP and Aima are operating in and servicing the same industry, ie the property development industry and construction industry. Especially in regard to CHGP's plans to launch RM3.73 billion worth of projects in the coming years, we can expect to see significant participation from our end as construction work for properties has been our forte for several decades."

To recap, CHGP announced on 8 February 2021 its plans to spend RM268 million to acquire 81.9 acres of land in the Klang Valley to develop five different property projects. It aims to generate RM3.73 billion in gross development value (GDV) from on-going and future developments in the next two years.

CHGP has two ongoing projects – Aera Residence and 8th & Stellar. Aera Residence is a serviced apartment project in Petaling Jaya, with an estimated GDV of RM332 million. Meanwhile, 8th & Stellar is a two-tower mixed-use development comprising serviced apartments, duplex lofts, office space and shoplots on a 2.2-acre leasehold tract in Sri Petaling. Its estimated gross development value is RM470 million. The take-up rate for both projects currently stand at 98% and 69% respectively.

Issued by: Sense Consultancy on behalf of Chin Hin Group Property Berhad

For further media enquiries please contact:
Anthony Lee
Tel: +6012 338 3705
Email: anthony@leesense.com

Jaz Ng
Tel: +6012 202 0096
Email: jaz@leesense.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HouseAfrica Announces Partnership With Domineum

LAGOS, Mar 10, 2021 – (ACN Newswire) – HouseAfrica, furthering its dedication to making African real estate transactions seamless and transparent, is pleased to announce a strategic partnership with Domineum, an enterprise blockchain technology and back-end services provider.

PropVat by HouseAfrica helps individuals and financial institutions verify and validate properties seamlessly, increasing access to credit.

HouseAfrica's PropVat.com, Africa's largest property technology platform, connects real estate stakeholders, property developers, home buyers, financial institutions, valuers and government regulators, to verify and validate property authenticity before purchase or credit application.

"We are particularly excited about our partnership with Domineum, as it helps us toward our goal of unlocking trapped real estate value in Nigeria, estimated at $300-900 billion dollars. We believe in collaboration. PropVat, our cutting-edge solution for unlocking Nigeria's and Africa's huge dead asset pool, is built on blockchain and collaboration," says Uba Nnamdi, Co-Founder and CEO HouseAfrica.

"Domineum is excited to partner with HouseAfrica to deliver its bespoke products and services to the government sector, land departments and other agencies, and the services sector, to real estate and financial businesses. Real estate investment is a real deal and blockchain can be seen as the game changer," says Mohammed Ibrahim Jega, Co-founder, Domineum.

PropVat works in partnership with key stakeholders in the real estate sector, including the Nigerian Institute of Estate Surveyors and Valuers (NIESV), Nigerian Bar Association and Nigeria Mortgage Refinance Company (NMRC), building a data-driven ecosystem for fast and easy means of processing interactive and transparent real estate transactions.

About PropVat
Using PropVat.com for verification helps to reduce the risk of fraudulent misrepresentation of ownership and valuation information. The PropVat platform generates a PVN (Property Verification Number) for quick access to a Verification Report, E-deed (powered by blockchain), and detailed property quality analysis. Major Financial Institutions are already using PropVat for their verification needs. Visit https://propvat.com, twitter.com/propvat, linkedin.com/company/propvat/ and facebook.com/propvat.

About HouseAfrica
HouseAfrica is building the largest African property platform using technology to connect real estate stakeholders to verify and validate property authenticity before purchase or credit application, helping to make convenient, secured, fast, transparent, and affordable property transactions. In 2019, HouseAfrica won the Best African Blockchain Startup at the AfricArena Conference Fantom Blockchain Challenge. Visit https://houseafrica.io.

About Domineum
Domineum is a software development company and consultant that aims to disrupt several sectors in the emerging markets, and leap-frog the current infrastructure with distributed ledger (blockchain) technology and Blockchain-as-a-Service (BaaS) solutions for governments and businesses. Domineum provides efficient back-end solutions to verify and authenticate Land and Property Registry, Mortgage, Identity Management, Cargo Tracking and Supply Chain systems. Visit https://www.domineum.io.

Contact: hello@houseafrica.io

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Wai Hung Intends to Build Approximately 1 Million Smart Parking Spaces in Nine Countries in the MiddleEast Countries With Total Contract Sum Reaches Over HK$100 Billion

HONG KONG, Mar 9, 2021 – (ACN Newswire) – Wai Hung Group Holdings Limited ("Wai Hung" or the "Group") (stock code: 3321) is pleased to announce that Wai Hung Hong Construction Engineering Limited ("WHHCE"), an indirect wholly-owned subsidiary of the Company, entered into a Cooperation Agreement with Investment Projects General Trading Company ("IPGT") today. The Group intends to build facilities for approximately 1 million smart parking spaces and provide relevant construction services for the proposed urban property project in the MiddleEast Countries to be developed with IPGT (the "Middle East Project"). The parties shall not cooperate with any third party in providing artificial intelligence garage system in the MiddleEast Countries within the term of the Cooperation Agreement (i.e. 5 years).

IPGT is a company incorporated in the State of Kuwait, which is principally engaged in the business of infrastructure and high-tech products and systems in the Middle East. The shareholders and key member of the management of IPGT include Sheikh Ali Khalifa Al-Sabah ("Sheikh Ali"), a member of Kuwait's royal family who served as the finance minister and oil minister of Kuwait and the chairman of the Organization of the Petroleum Exporting Countries and has substantial business resources in the Middle East.

Mr. Li Kam Hung, Chairman of Wai Hung Group Holdings Limited, said, "The cooperation between the Group and IPGT is to aim at fulfilling a long-term objective in building facilities for approximately 1 million smart parking spaces in nine countries in the MiddleEast Countries, i.e., the six countries in the Gulf Cooperation Council (namely, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, and the United Arab Emirates), Egypt, Iraq and Jordan. The total contract sum of the Middle East Project, if materialised fully, could reach over HK$100 billion. The Board is of the view that such cooperation with IPGT will further diversify the Group's business scope and source of income as a whole. It may also facilitate cooperation between the Company and major enterprises in Japan, Korea and China that are interested in infrastructure projects in the Middle East. The Group is expected to establish a leading position in the industry upon completion of the project."

About Wai Hung Group Holdings Limited (Stock Code:3321)
Wai Hung Group is a contractor providing fitting-out services and repair and maintenance services in Macau. The Group's fitting-out services primarily cover refitting works for existing buildings and extend to casinos, retail areas, hotels, restaurants, commercial properties and residential properties. The Group has developed smart garage since September 2020 to diversify its businesses.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Hektar REIT 2020 Performance: Resilience in Adversity

KUALA LUMPUR, Feb 25, 2021 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager for Hektar Real Estate Investment Trust ("Hektar REIT"; HEKT.KL), today announced Hektar REIT's annual results for Financial Year ended 31 December 2020 ("FY20") with revenue at RM111.1 million, down 18.9% compared to the same period in the preceding year. Property Operating Expenses reduced by RM3.5 million or savings of 5.7% compared to the previous year. Net Property Income (NPI) was reported at RM53.0 million, a decline of 29.8% from 2019. FY20 was a challenging year for the retail sector due to the COVID-19 pandemic and implementation of various mobility restrictions throughout the year, which resulted in a decline in income from rental, carpark and food court.

Dato' Hisham bin Othman, CEO of Hektar Asset Management

For the fourth quarter ended 31 December 2020 ("4Q 2020"), Hektar REIT posted revenue of RM29.8 million, which is 14.5% lower compared to the same quarter of the preceding year. NPI was RM12.4 million, a decline of 37.3% compared to the corresponding quarter of the previous year. However, when compared to the previous quarter, revenue increased by 14.7%. Despite the challenges to malls as a result of the COVID-19 pandemic on the retail sector, the REIT managed to attract new and secured existing tenants covering 10.2% of Hektar REIT's Net Lettable Area ("NLA") in this quarter. The REIT continually engages with tenants in all six shopping centres to ensure the sustainability of their business.

Dato' Hisham bin Othman, Chief Executive Officer of Hektar Asset Management Sdn. Bhd, commented, "We cannot deny that 2020 was a challenging year for our malls given the mobility restrictions and stringent standard operating procedures that had to be implemented to curb further spread of the COVID-19 virus. However, we strived to ensure that business remained sustainable for our tenants and us at all times."

"We expect consumer sentiment to improve over the second half of 2021 as more people get vaccinated and the economy recovers. To ensure that our portfolio of malls remain competitive and continue to attract visitors, we have also been busy with remixing & rejuvenating our tenant mix and reconfiguring of spaces along with other optimum asset enhancement initiatives".

Income Distribution

As earlier announced, Hektar REIT declared an income distribution of RM4.2 million for 4Q 2020, which is equivalent to 0.90 sen per unit. The COVID-19 pandemic has impacted the retail industry significantly and the REIT has also not been spared. However, we remain committed to steering our portfolio into recovery this year.

Positive Anchor Commitment at Subang Parade and Mahkota Parade

Anchor support for Hektar's two largest malls, Subang Parade and Mahkota Parade, remains positive. Subang Parade saw the introduction of premium supermarket Village Grocer. Parkson, our long-term anchor, refurbished their lower ground space at Subang Parade and renewed their tenancy at Mahkota Parade. A new mini-anchor, EcoShop, also opened at Subang Parade in December 2020. The commitment by these anchors is a testament to the confidence in the long-term prospects of the malls.

Stable Portfolio Occupancy

Hektar REIT's portfolio of malls remained steady at an overall occupancy rate of 88.4% for FY2020. The overall portfolio registered 80 new and renewed tenancies representing NLA of 364,014 sq ft or 17.8% of total NLA. Hektar REIT reached out to eligible tenants by providing rental assistance and engaging with our shoppers to boost tenant sales through marketing promotions via physical and digital platforms.

Sustainability Efforts

Hektar REIT is committed to fulfill its obligation to ensure that all the business activities are performed to high standards of Environmental, Social and Governance (ESG). Overall, energy consumption for the portfolio declined by 19.1%, translating into reduction of carbon emissions of 1.2 million kgCO2. Hektar REIT is a constituent member of the FTSE4Good Bursa Malaysia Index and in its latest December 2020 evaluation, its ESG conduct has been recognised with a 3-star ESG rating by FTSE Russell.

For further information, please log on to www.bursamalaysia.com

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

IMPORTANT NOTICE

The past performance of Hektar REIT is not indicative of the future performance of Hektar REIT. This document may contain forward-looking statements that involve risk and uncertainties. Actual future results may vary materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.

For more information or inquiries, please contact:
Hektar Asset Management Sdn Bhd
D1-U3-10, Solaris Dutamas
No 1, Jalan Dutamas 1
50480 Kuala Lumpur
Malaysia

Investor Communications
Tel: +6 03 6205 5570
Fax: +6 03 6205 5571
Email: ir@HektarREIT.com
Web: www.HektarREIT.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

ZALL celebrates the opening of its first overseas Chinese bookstore in Singapore

SINGAPORE, Feb 11, 2021 – (ACN Newswire) – ZALL Group, Asia's leading B2B e-commerce group, has officially opened its first overseas all-in-one Chinese bookstore on 8 February 2021 that is situated right in the heart of Orchard Road at Wheelock Place. The bookstore comprises of a cafe, art gallery and craft store, as well as event and outdoor spaces. Aspiring to create an all-in-one lifestyle experience, ZALL Bookstore seeks to create the perfect quintessential conducive environment for like-minded individuals who are passionate about Chinese culture, literature and arts to congregate and interact.

"Perfect for enthusiasts who are keen to learn more about Chinese culture, ZALL Bookstore creates a completely immersive experience into the world of books," said Yan Ge, spokesperson of ZALL Bookstore. "ZALL Bookstore aims to represent the richness of the Chinese heritage by offering readers an array of books with varied genres, as well as a collaborative setting for our readers to rediscover themselves whilst reading."

Serving as a gateway into the world of rich Chinese history and culture, ZALL Bookstore caters to diverse cultural interests and offers a comprehensive curated collection of more than 30,000 books on Chinese literature, humanities, history, and philosophy from China and Taiwan – featuring adult and children's books from international bestsellers, Chinese authors and foreign literary works. Beyond books, ZALL Bookstore also embodies the spirit of humanities, creativity, art and lifestyle that seeks to nourish a reader's soul with experiential charm into Chinese culture.

The interior of ZALL Bookstore accentuates the calligraphic elements of black and white, inspired by the essence of the Jiangnan watertown, with a spiral staircase – the key element of the bookstore is the circular arch that extends from the second floor to the first, resembling that of a river bridge in the water towns symbolising the essence of connecting the two streets of the town/city.

Stepping into the bookstore on the first floor, readers will be greeted with calligraphic elements of black and white, inspired by the essence of the Jiangnan watertown, and would be able to browse an extensive range of Children's books as soon as they enter the bookstore.

This floor also includes a public multifunctional reading area that can hold events from new book releases to reading events; and a cafe that provides a cosy space for anyone seeking a quiet space to read, and to relax by enjoying the variety of coffee blends, Chinese Chu tea and Taiwan tea served at the cafe, amidst the hustle and bustle of Orchard road.

Walking up the spiral staircase to the second floor, readers shall be able to appreciate the well-designed circular arch that extends from the second floor to the first, resembling that of a river bridge in the water towns which symbolises the essence of connecting the two streets of the town/city.

The second floor of the bookstore boasts the Adults' section, where lovers of Chinese books can have the most pleasurable book-hunting experience in an exquisite ambience. There would also be a section for cultural creatives and fresh stationery ideas for art and design lovers.

Readers will be pleasantly surprised by the art gallery on the second floor of the bookstore if they wish for a change in scenery as this section will showcase the collection of creative artworks and thought-provoking paintings by Singapore's local talents and international artists.

Readers are invited to come and rediscover the joys of reading whilst immersing themselves into the rich Chinese culture. For more information, please visit ZALL Bookstore at Wheelock Place, 501 Orchard Road, https://www.facebook.com/zallbookstore

About ZALL Bookstore

ZALL Bookstore offers a place for cultural exchange, social gathering and homecoming providing a conducive space for everyone. ZALL bookstore is the first upscaled Chinese-themed bookstore in Singapore, featuring an all-in-one lifestyle experience. ZALL bookstore is the ideal location for events such as artistic exchanges that will nourish a reader's soul with experiential charm into Chinese culture. Its cafe will allow a quiet cafe experience of Singapore's coffee culture, providing cosy corners for anyone seeking a quiet space to read. ZALL Bookstore not only feature books, but also embodies the spirit of humanities, creativity, art, and lifestyle, that will cater to the diverse arts and cultural interests in Singapore and aspiring to create the unique arts paradise reshaping Singapore's Chinese cultural landscape.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Concord Adex Unveils Toronto’s Mystery Bridge Suite

TORONTO, Jan 15, 2021 – (ACN Newswire) – It's a lair fit for Mr. James Bond himself. The long-awaited Bridge Suites (https://concordbridgesuites.com/), Concord's iconic addition to the Toronto skyline, is finally unveiled. Globally recognized as an architectural feat, the Bridge Suites were built into Parade's SkyBridge at the foot Canoe Landing Park in Toronto, Ontario and have been a source of curiosity throughout the city – and the world – since inception.

As the country's highest (and largest) suspended residence, the jaw-dropping Bridge Suites are an engineering and architectural marvel. The 450 tonne, 40 metre structure that took over 14 hours to lift into place is no longer a mystery. Its unique outlook suspended in the sky allows for unobstructed vistas to Lake Ontario in one direction and miles of city views to the other.

"Rarely in a city can you point in the sky and say definitively, 'I live there," however, the uniqueness of this residence makes it very hard to miss," said Isaac Chan, Vice President, Sales and Marketing at Concord Adex. "The Bridge Suites have long sparked intrigue from Torontonians and we're excited to pull back the curtain and finally give everyone the grand tour of this incredible space."

The Grand Bridge Suite, listed at $4,550,000, is the largest of the two suites and the only one of two to be publicly offered. It is 4,168 square feet of living space spanning 3 floors including double height living, dining and study. Featuring timeless design, finishes and furnishings from LIV Design Studio (https://livca-prod.k8s.trustliv.com/), the SkyBridge also boasts an 823 square foot outdoor retreat serviced by an indoor bar and sunroom. The master bedroom comes with Toronto's ultimate bathing area, boasting breathtaking views of the lake. Additionally, the suite is equipped with private three car garage and premium storage space.

"This project was unlike any other due to the true uniqueness of the space," said Olivia Lam, Principal, LIV Design Studio. "The architecture is so unique that creating the right balance of program and timelessness was a welcome challenge."

Concord has been building Canada's largest lifestyle-forward urban communities for over 30 years. Concord Pacific Place in Vancouver and Concord CityPlace in Toronto are the country's two largest urban master-plans. Concord also expanded to Seattle's tech hub in the United States and London, UK including the completion of Principal Tower in the Principal Place neighbourhood, home to Amazon UK. These communities are renowned for their vibrant urban planning and have been emulated globally. The award-winning developer is Canada's most substantial contributor of city parks and privately funded public art. In addition to their design sustained neighbourhoods, the company's green energy arm generates twice the amount of energy needed to power them.

#concordbridgesuite
Access images and relating documents here
https://drive.google.com/drive/folders/1qfsSFxksrfQ-6orZ9i-2iAam4Lig5ACt

For interviews, images or for more information, please contact:

Jacqueline Kendall
jak@jacquelinekendall.com
(647) 453-5225

About Concord Pacific
Concord Pacific is a Canadian headquartered developer of multi-phased, master-planned residential communities. With more than 40,000 units built or currently under development, it is Canada's largest urban community builder and has won numerous national and international awards for design and excellence. Their development schemes are strategically designed to enhance the lifestyles of its residents with innovative architecture and engaging public spaces of world-class scale and use. For more information, visit concordpacific.com. For more information on the Bridge Suites, visit concordbridgesuites.com.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Concord Adex Unveils Toronto’s Mystery Bridge Suite

TORONTO, Jan 15, 2021 – (ACN Newswire) – It's a lair fit for Mr. James Bond himself. The long-awaited Bridge Suites (https://concordbridgesuites.com/), Concord's iconic addition to the Toronto skyline, is finally unveiled. Globally recognized as an architectural feat, the Bridge Suites were built into Parade's SkyBridge at the foot Canoe Landing Park in Toronto, Ontario and have been a source of curiosity throughout the city – and the world – since inception.

As the country's highest (and largest) suspended residence, the jaw-dropping Bridge Suites are an engineering and architectural marvel. The 450 tonne, 40 metre structure that took over 14 hours to lift into place is no longer a mystery. Its unique outlook suspended in the sky allows for unobstructed vistas to Lake Ontario in one direction and miles of city views to the other.

"Rarely in a city can you point in the sky and say definitively, 'I live there," however, the uniqueness of this residence makes it very hard to miss," said Isaac Chan, Vice President, Sales and Marketing at Concord Adex. "The Bridge Suites have long sparked intrigue from Torontonians and we're excited to pull back the curtain and finally give everyone the grand tour of this incredible space."

The Grand Bridge Suite, listed at $4,550,000, is the largest of the two suites and the only one of two to be publicly offered. It is 4,168 square feet of living space spanning 3 floors including double height living, dining and study. Featuring timeless design, finishes and furnishings from LIV Design Studio (https://livca-prod.k8s.trustliv.com/), the SkyBridge also boasts an 823 square foot outdoor retreat serviced by an indoor bar and sunroom. The master bedroom comes with Toronto's ultimate bathing area, boasting breathtaking views of the lake. Additionally, the suite is equipped with private three car garage and premium storage space.

"This project was unlike any other due to the true uniqueness of the space," said Olivia Lam, Principal, LIV Design Studio. "The architecture is so unique that creating the right balance of program and timelessness was a welcome challenge."

Concord has been building Canada's largest lifestyle-forward urban communities for over 30 years. Concord Pacific Place in Vancouver and Concord CityPlace in Toronto are the country's two largest urban master-plans. Concord also expanded to Seattle's tech hub in the United States and London, UK including the completion of Principal Tower in the Principal Place neighbourhood, home to Amazon UK. These communities are renowned for their vibrant urban planning and have been emulated globally. The award-winning developer is Canada's most substantial contributor of city parks and privately funded public art. In addition to their design sustained neighbourhoods, the company's green energy arm generates twice the amount of energy needed to power them.

#concordbridgesuite
Access images and relating documents here
https://drive.google.com/drive/folders/1qfsSFxksrfQ-6orZ9i-2iAam4Lig5ACt?usp=sharing

For interviews, images or for more information, please contact:

Jacqueline Kendall
jak@jacquelinekendall.com
(647) 453-5225

About Concord Pacific
Concord Pacific is a Canadian headquartered developer of multi-phased, master-planned residential communities. With more than 40,000 units built or currently under development, it is Canada's largest urban community builder and has won numerous national and international awards for design and excellence. Their development schemes are strategically designed to enhance the lifestyles of its residents with innovative architecture and engaging public spaces of world-class scale and use. For more information, visit concordpacific.com. For more information on the Bridge Suites, visit concordbridgesuites.com.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Siamese Asset PCL (SET: SA) Shows High Integrated Real Estate Business Potential

BANGKOK, Dec 28, 2020 – (ACN Newswire) – Siamese Asset PCL (SET: SA) is moving ahead to expand investment following its listing on the Stock Exchange of Thailand (SET), in a bid to become a leading integrated real estate developer in Thailand, fulfilling customer demand for residences and for long-term investment, and promoting continuous growth, despite the national economy in a slowdown mode. The current 9,446 million baht worth of backlog is being realized from 4Q2020 onward.

Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset PCL, listed as an "Asset of Life" when the Company had its debut on the Stock Exchange of Thailand on December 25, under the SET designation "SA" in the Real Estate Development Category. This was the last Thai stock to be listed on the SET in 2020. The Company's high and leveraged superior strength compared to competitors will help to ensure interest in SA shares among investors.

The Company aspires to become the real estate developer that can satisfy the demand of customers in every target segment with the best locations and at prices that are affordable to all Thai consumers. Through its vast experience as being construction contractor for a large variety of projects, the Company can efficiently manage all relevant costs, such as land cost, management cost and construction cost. These are the main factors that enable the Company to set prices lower than competitors' and maintain international standards in construction management.

At present, SA is developing both horizontal and vertical real estate projects to cover every consumer segment, such as condominiums, single-detached and townhouses, with the concentration being on condominium projects in Bangkok on choice high-potential locations, with the business divided into three categories: Real estate development for sale; Real estate development for rent; and Real estate development for services. In addition, there are other services available, such as condominium management as juristic person and broker for unit rentals, thus the Company can fulfill the customers' demand for both own residences and for long-term investment.

Following the successful listing on the SET, the funds made available will firstly be used to repay loans to financial institutions to reduce the debt burden and cut IBD/E (interest bearing debt/EBITDA) to approximately 1.5-1.7 times from the current 2.1 times (as of Sept 30, 2020), and the remainders will be utilized to develop real estate projects, expand investment to develop projects, including the 4,000-million-baht mixed-use Blossom Condo @ Fashion 3; the 1,900-million-baht Above 39 project which will be remodeled as a hotel or apartment for rent under professional hotel-standard management, and approximately 2,000-million-baht Blossom Condo @ TSH Station. In addition, there are plans to expand investment opportunities in real estate developments both domestically and abroad, while the remainders will be retained as working capital for the operations.

SA currently has in hand a total of 13 projects altogether worth more than 32,000 million baht, over 80 percent of which are located in CBDs and New CBDs, as well as 9,000 million baht's worth of backlog awaiting deed transfers which started to be realized as from the fourth quarter of 2020 onward. In addition, the Company has the policy to pay out dividends to shareholders at not less than 40 percent of net profit of the financial statements after deducting various reserves of the Company.

Company's performance in the first nine months of 2020 (January-September) showed a total revenue of THB 2,060.6 million with the biggest proportion of the revenue being realized from real estate sales, grown continuously over the years in step with the increase in real estate projects that have been completed and have started the deed transfer process to the customers. The net profit for the period was THB 283.9 million, supported by the increase in prices at some projects and the efficient cost management at new projects.

Mr. Lec Sicoravit, President of Asia Plus Advisory Company Ltd, as financial advisor, said SA is a Company with efficient business management through the application of experience and knowledge developed from its construction contracting business both for cost management and construction technique while offering real estate business-related services such as condominium management as juristic person, real estate project development for sale in the form of branded residences, and food and beverage business, etc.

SA clearly has the advantageous strength when compared to competitors and has managed to grow its business operation continuously despite the ongoing Coronavirus pandemic that has affected the overall economic conditions. Therefore, the Company's IPO was tremendously well received by the investors due to the strength of its real estate business foundation and the strong sustainable growth potential.

Released by Public Relations Dept., MT Multimedia Co., Ltd. for Siamese Asset Plc.
Orn-anong (Fah) Pattaravejkul, +66 86 884 4458, +66 2 612 2081 ext. 129, ornanong.p@mtmultimedia.com.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

ZALL Smart Commerce and CIC Launch Digital Silk Road Initiative

SINGAPORE, Dec 15, 2020 – (ACN Newswire) – Commodities Intelligence Centre ("CIC") announces a momentous 2020 as it has jointly launched a "Digital Silk Road" initiative led by ZALL Smart Commerce Group ("ZALL"), Asia's leading B2B e-commerce Group, and joined Singapore's Blockchain for Trade & Connectivity (BTC) Network. As Singapore's first global physical commodities B2B e-trade platform powered by blockchain, together with ZALL's latest global digital trading platform, and China's largest online and offline integrated wholesale trading platform "Zallgo", CIC will help Singapore businesses uncover new opportunities and reap the benefits of the global digital trade economy through enhanced digital connectivity, in turn boosting trade across the Asia-Pacific region on the back of the world's largest trade pact, the Regional Comprehensive Economic Partnership (RCEP).

Zallgo was officially launched during the "2020 Global Digital Trade Conference" that was held in Wuhan last month. A total of 300 merchants sign 252 agreements on-site through ZALL's digital platform, amounting to a total of S$56.3 billion (US$42.2 billion) of cooperation agreements. The newly formed partnerships underscore the increasingly important strategic role of CIC in facilitating the expansion of regional trade and investment as it aims to develop more than 10 winning commodities that will be popular worldwide over the next three to five years.

Peter Yu, CEO of Commodities Intelligence Centre, shared, "We have withstood the test of the pandemic and have witnessed the impact of the industrial internet economy on global trade and investment. As digital trade becomes the new engine of global economic growth, digital connectivity becomes increasingly important for companies to expand their market footprint quickly in a safe and secure manner. The new partnerships forged with the Digital Silk Road initiative and BTC network strengthens CIC's existing networks in the region that will enable SMEs to uncover new trading opportunities and optimize their supply chains in cross-border trade through our ecosystem in Asia."

CIC is also one of the six commercial partners to be part of the recently formed Blockchain for Trade & Connectivity (BTC) Network, an initiative by the Singapore University of Social Sciences (SUSS) and Enterprise Singapore (ESG), supported by the National Research Foundation (NRF) to develop a risk assessment framework for small and medium-sized enterprises to assess how blockchain can support their business needs.

The BTC network was officially launched at the sidelines of the Singapore Week of Innovation and Technology (SWITCH) on 7 December 2020. The BTC network to drive innovation and test bedding of blockchain solutions with multimodal global supply chain companies, digital trading platforms and technologies. Other five commercial partners who will be helping to create, trial and lead the BTC Network's implementation includes Ascent Solutions, Blockchain-based Service Network, GeTS, Trames and VeChain Technology.

"CIC is well-placed to provide the necessary tools and guidance in promoting greater efficiency and transparency across global supply chains to help SMEs embrace the power of digitalisation to explore opportunities, casting their net wider, reaching out to a larger pool of reliable partners and suppliers beyond their usual reach," added Peter.

Since the start of the year, CIC's platform has reported more than 20 per cent increase in customers joining their platform compared to the same period last year. The company also saw a surge in online transactions with over 4,000 customers searching for trading opportunities on the platform on a daily basis. CIC has since achieved a gross merchandise volume of US$13.2 billion (S$17.6 billion), with over 5,200 registered users covering markets, including Singapore, Malaysia, Indonesia, India and China, among other countries in Asia.

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$12.7 billion (S$17.7 billion), with over 5,000 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, please contact
PRecious Communications for CIC
cic@preciouscomms.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Dusit International Singapore debuts with Dusit Thani Laguna Singapore

Bangkok, Thailand, 2 December 2020 – Dusit International, one of Thailand’s leading hotel and property development companies, has officially expanded into Singapore with the opening of Dusit Thani Laguna Singapore in the heart of the renowned Laguna National Golf & Country Club, one of the island nation’s premier golf and country clubs.

Comprising 198 tastefully-decorated contemporary rooms and suites, plus eight pavilions with private pools, and located just 10 minutes by car from Jewel Changi Airport and 15 minutes from Downtown, the resort is the first in Singapore to offer direct access to award-winning golfing facilities.

It is also the first resort in the country to feature Dusit’s unique brand of Thai-inspired gracious hospitality, and it serves as a showcase of the company’s new strategic direction for the new normal, which includes enhancing its brand DNA in four key areas – Personalised Service, Well-being, Local Connections, and Sustainability.

Opening initially to domestic guests on 4 December 2020, the elegant resort has been thoughtfully designed to cater to avid golfers, local families, and business and leisure travellers, and meet their needs from a wellness and destination getaway perspective.

The main building, whose sleek, contemporary design includes a curvilinear roof and impressive facade of floor-to-ceiling glass windows, signals a modern new direction for Dusit’s 50-year-old Dusit Thani brand. High-tech amenities and thoughtfully curated spaces combine to offer understated luxury which subtly references the old-world opulence of Dusit’s more traditional hotel offerings.

Current dining facilities include Greenhouse all-day dining; Tee Deck alfresco pool bar and grill; Legends Bar; and Dusit Gourmet.

In line with Dusit’s focus on well-being and sustainability, the restaurants are supported by an onsite garden planted with a selection of herbs, vegetables and fruits. A series of wellness menus are also offered featuring nutritious and balanced dishes for those seeking to maintain a healthy diet.

Alongside access to Laguna National Golf & Country Club’s renowned Masters and Classic championship golf courses, guests also have access to a 24-hour gym, three tennis courts, three swimming pools, a nine-hole putting green by Nicklaus Design, Laguna Practice powered by Toptracer driving range, and Devarana Wellness.

Alongside providing traditional Thai massage and premium health and beauty therapies, the latter facility also offers a wide range of activities that promote physical and mental well-being, such as meditation, yoga, active stretching, and breath-work exercises. These activities have all been developed as part of Dusit’s new Devarana Wellness programme, which will also be rolled out to other Dusit Hotels and Resorts worldwide.

Positioned to become a leading venue for corporate functions, weddings and private social events, the resort also offers a spacious boardroom, three meeting rooms, three large event lawns, and a luxurious pillarless ballroom with capacity for 520 guests, depending on distancing requirements.

Nearby attractions for business and leisure include Changi Business Park, Singapore Expo, the Tampines business district, Marina Bay, Raffles Place, Orchard Road, and Sentosa Island. All can be reached within 20 minutes by car.

Dusit Thani Laguna Singapore’s concierge is also on hand to ensure guests can connect with the best of the destination with personalised tips on what to see and do.

Alongside showcasing Dusit’s new brand standards for the new normal, the opening of the resort demonstrates the company’s commitment to sustainable expansion by planting flags in strategic locations with strong growth potential. It is Dusit’s fifth resort to open this year, following dusitD2 Salwa Doha, Dusit Beach Resort Guam, ASAI Bangkok Chinatown, and Dusit Thani Wellness Resort Suzhou. It also comes hot on the heels of recent signings to manage upcoming hotels in India and Japan.

Dusit’s portfolio now includes 340 properties operating under six brands across 15 countries.

“Following this year’s signings and openings, the arrival of Dusit Thani Laguna Singapore marks another important milestone in our sustainable expansion, and we are delighted to make our debut in one of the world’s most respected business hubs and showcase our new brand DNA with such an exceptional property,” said Ms Suphajee Suthumpun, Group CEO, Dusit International. “The resort’s stunning design, extensive guest offerings, and prime location on the grounds of the Laguna National Golf & Country Club puts us in a unique position to offer an integrated and full suite of services to meet the needs of a wide range of consumers, from C-suite executives and local staycationers, to soon-to-wed couples and avid golfers alike. This ensures we have plenty of avenues for domestic revenue creation while we wait for the COVID-19 situation to normalise and international travel to resume.

“While this is certainly a challenging time for our industry, Singapore previously recorded four years of consecutive tourism growth, and we remain confident that the market will bounce back strong. Until then, we will do our utmost to aid in its recovery by establishing Dusit Thani Laguna Singapore as a must-visit destination that brings enduring value to all stakeholders.”

Mr Eric Piatti, General Manager, Dusit Thani Laguna Singapore, said, “We are delighted to finally open Dusit Thani Laguna Singapore and bring our personalised service and distinctive guest experiences to the destination for the first time. Opening the resort while the borders are closed may seem challenging, but demand for staycations among the domestic market is high, and we have an amazing and unique product to leverage this. Opening now will also ensure that everything is in place to help the Lion City roar back to life as soon as international travel resumes. We look forward to seeing Dusit Thani Laguna Singapore leading the pack, establishing itself as the new destination for Singaporeans.”

To ensure guest safety at Dusit Thani Laguna Singapore, the resort strictly adheres to Dusit’s group-wide ‘Dusit Care – Stay with Confidence’ programme. Heightened cleaning protocols, contactless registration, anytime breakfast, digital in-room menus, and mobile payment methods are just some of the services and facilities implemented to protect the health and well-being of guests and employees.

For more information about the resort and its opening room rates, please visit dusit.com/dusitthani-laguna-singapore.

Dusit Thani Laguna Singapore

Dusit Thani Laguna Singapore – Lobby

Dusit Thani Laguna Singapore – Suite Room

Dusit Thani Laguna Singapore – Greenhouse Restaurant

Ms Suphajee Suthumpun, Group CEO, Dusit International

About Dusit International

Established in 1948, Dusit International is a leading hospitality group listed on the Stock Exchange of Thailand. Building on its two core areas of business – Hotels & Resorts and Hospitality Education – the company has expanded its operations over the past four years to comprise five business units. The additional units include Foods, Property Development, and Hospitality-Related Services. Today, the company’s property portfolio comprises more than 300 distinctive hotels, resorts and luxury villas operating under six brands across 15 countries worldwide, as well as two leading hospitality colleges with campuses in Thailand and the Philippines. Following a three-pronged strategy for sustainable growth, including balance, expansion and diversification, the company has recently expanded into food production, on-demand hospitality services, and property development to reach new markets and add further recurring streams of revenue to the company. For more information, please visit www.dusit-international.com

Official photos of Dusit Hotels & Resorts can be downloaded at medialib.dusit.com

About Dusit Thani Laguna Singapore

Dusit Thani Laguna Singapore is located within the grounds of the acclaimed Laguna National Golf & Country Club, 10 minutes by car from Changi International Airport and 15 minutes from Downtown.

Comprising 198 tastefully-decorated rooms and suites showcasing the best of contemporary Asian design, this resort is equipped for business and leisure with a wealth of experiences for guests to enjoy.

Facilities include Greenhouse, an all-day dining multi-ethnic restaurant with show kitchens; Tee Deck – alfresco bar and grill; Legends Bar & Lounge; Dusit Gourmet; The Nest restaurant; Club Lounge; DFiT – a fully-equipped gym; three swimming pools; three tennis courts; Laguna Putting powered by Nicklaus Design; Laguna Practice powered by Toptracer, and Dusit’s signature Devarana Wellness.

The resort also offers a boardroom, two meeting rooms, three event lawns, eight pavilions, a terrace for private functions, and a large pillarless ballroom (seats up to 520 guests) with a pre-function area overlooking the golf course.

Guests will enjoy privileged access to the driving range and Laguna National’s championship Classic and Masters golf courses. For more information, please visit dusitthanilagunasingapore.com

About Laguna National Golf & Country Club

A prominent club in the local and regional golf scene since its inauguration in 1993, Laguna National is one of Singapore’s premier golf and country clubs. Laguna National boasts two 18-hole championship courses that have won prestigious accolades and hosted international championships, including the European Tour’s Singapore Masters, the Korean LPGA Tour’s ADT Caps Tour Championship, and European and Asian Tour co-sanctioned event, The Championship at Laguna National.

Following a multi-million-dollar facelift, Laguna National has developed a state-of-the-art union of a world-class golf club and a 198-room and suites plus eight pavilions Dusit Thani resort with full facilities including a spa, a learning and practice facility, a fitness centre, as well as Member-exclusive areas with private locker rooms, Golfers’ lounge and country club facilities.

In close proximity to the airport, beach, malls and with a private clubhouse and resort, golfers will find the world at their fingertips at Laguna National Golf & Country Club. For more information, please visit lagunanational.com and facebook.com/lagunagolf

Media Contact:

Sureerat Sudpairak | Director of Marketing Communications – Hotel Business | Dusit International
Tel: +66 (0) 2200 9999 ext. 3321 | Mobile: +66 89 0068 697 | Email: sureerat.sp@dusit.com

Sue Gan | Director of Sales & Marketing | Dusit Thani Laguna Singapore
Tel: +65 6248 1725 | Mobile: +65 9646 4352 | Email: sue.gan@dusit.com