Teads Attention Program, approaching its one-year anniversary, fostered insights that spanned 20 countries, 120 advertisers and 2.5B+ impressions measured, delivering key insights and learnings fueling the future evolution of attention Teads’ outcome-based partners in attention, including Lumen and Adelaide, extended findings across mobile, desktop and CTV screens
SINGAPORE – Media OutReach – 25 May 2023 –Teads, the global media platform, today released the findings of its recent attention meta-analysis, which has further proven the practicality of attention as a new measurement metric, and underscored actionable ways for companies to leverage attention for improved brand lift and campaign outcomes across the funnel.
A Year in Attention
Through this research, Teads was able to validate the four drivers of attention – Quality of Media, Ad Experience, Relevance, and Creative – identified through joint research with major holding companies, and provide key insights into each, as measured by Lumen and Adelaide.
Teads found that quality premium publishers, such as Condé Nast and news publishers, outperform on attention metrics, with quality Teads content driving attention levels at least three times higher than Facebook, according to multiple measurement sources. Additionally, Teads’ premium ad formats deliver attention comparable to YouTube, with a 15% higher APM (attentive seconds per 1,000 impressions) target compared to Lumen’s December 2022 benchmark, while also being better perceived and more efficient.
Moreover, Teads extended outside of digital media by measuring CTV within an omnichannel campaign across its digital and CTV inventory. Teads identified +21% lift in omnichannel attention compared to the digital-only benchmark, according to Adelaide. In one campaign, by optimizing with high attention media across all channels, a brand drove 42% stronger lifts against Teads’ in store-visitation benchmarks.
Teads’ research revealed that the four drivers of attention have a validated relationship between in-market attention measures and campaign outcomes – across different measurement partners, different verticals, and that maximizing attention can result in greater brand lift.
Jean-Paul Edwards, Managing Director, Product, OMD Worldwide said: “Attention has always been core to effective communication. At OMG, we have focused for several years on how we can effectively manage optimal delivery of the required attention for any given brief. Building on numerous attention testing programs, we have created a framework of attention parameters bespoke to each brief with tools to optimize decisions across planning, placement and creative execution. Our deep involvement with the Teads Attention Program supports that understanding, generating uplifts in attention to delivering stronger brand metrics and sales performance.”
Lastly, there is significant room for optimization on media and creative to increase attentive reach and dwell time, indicating that the adaptation of the creative to the platform and the relevance of the placement and context further enhance attention levels, with early studies showing a 20% uplift in attention across the flight of a campaign.
Srijoni Dutta Gupta, Consumer Marketing Manager, Estee Lauder EMEA said: “With the help of Teads’ team of experts, our Spring ’23 Supreme moisturizer campaign was a successful approach to strategically optimizing existing campaign assets while expressing our new consumer insights-driven storytelling in a much more impactful, measurable way. Teads understood our needs, providing valuable consumer testing data and fine-tuning turnkey deliverables for our markets.”
With increased focus on action driven by Attention Measurement, Teads is keenly focused on developing insight in three core areas: CTV and how to maximize attention on the TV screen, the intersection of context and attention as a component of measurement and planning in a cookieless world, and activation opportunities, particularly around product development to ensure highly attentive, efficient campaigns that deliver on outcomes across channels.
Liset Otten, Global Digital Activation Manager, JDE said: “The findings from our initial attention pilots with Teads conducted in the UK and Germany have inspired further roll out of attention measurement product to 10+ markets. We see significant opportunity to reduce wastage in digital buying and ensure that we are reaching people and not just devices. While we continue to move through the stages of our phased approach to testing and evaluating the attention metric, we strongly encourage markets to consider participating, as feasible.”
Caroline Hugonenc, Senior Vice President, Research & Insights, Teads adds: “What is truly unique with Teads Attention Program is that we are enabling clients to test, learn and measure outcomes related to attention on live campaigns. From these findings, we have seen clients embrace attention and build a competitive advantage as the industry aligns on a standard definition of attention as a metric. To support them in their journey, we will keep on innovating on the measurement solutions that we are proposing but also on the integration of attention metrics in the activation and planning stage.”
The issuer is solely responsible for the content of this announcement.
About Teads
Teads operates a leading, cloud-based, omnichannel platform that enables programmatic digital advertising across a global ecosystem of quality digital media. As an end-to-end solution, Teads’ modular platform allows partners to leverage buy-side, sell-side, creative, data and AI optimization technologies.
For advertisers and their agencies, Teads offers a single access point to buy the inventory of many of the world’s best publishers and content providers. Through exclusive global media partnerships, Teads enables advertisers and agencies to reach billions of unique monthly users in brand safe, responsible advertising environments, while improving the effectiveness and efficiency of digital ad transactions.
Teads partners with the leading marketers, agencies and publishers through a team of 1,200+ people in 50 offices across more than 30 countries.
Chinese tourists from Shanghai board a bus at Suvarnabhumi Airport in Bangkok, Thailand. ( Photo ; AP )
The fate of the THB 300 tourism fee scheme, which was proposed in July 2022, currently lies in the hands of the incumbent government, who is expected to iron out the details about its implementation.
Prices start from $2,300psf and S$1.11 million for a 1-bedroom apartment
Sales gallery has received about 15,500 visitors since the preview commenced on 12 May 2023
732-unit residence is part of Bukit Timah’s first mixed-use integrated development with a transport hub with direct access to Beauty World MRT Station
SINGAPORE – Media OutReach – 25 May 2023 – Far East Organization (远东机构), together with its joint venture partner Sino Group (信和集团), will launch the first phase of the highly-anticipated The Reserve Residences (青麓尚居) on 27 May 2023. With a significant number of about 15,500 visitors to the sales gallery during its preview period commencing from 12 May, 550 homes out of 732 units will be released for sale in its first phase.
The only mixed-use integrated development with a transport hub situated in the heart of Bukit Timah and the foothills of the Bukit Timah Nature Reserve. The Reserve Residences is inspired by the verdant landscape of the neighbouring nature parks.
Prices start from $2,300 psf, with 1-bedroom units commencing from $1.11 million, 2-bedroom units from $1.45 million and 3-bedroom units from $2.2 million. 4-bedroom units and above are priced starting from $3.5 million.
The Reserve Residences features 732 residences with a variety of layouts under four unique collections. Its excellent locale offers residents easy access to food, retail and community spaces, as well as outdoor activities and nature exploration.
SHAW Lay See (苏丽茜), Chief Operating Officer of the Sales & Leasing Group, Far East Organization, said, “On the back of a strong response by visitors to the sales gallery, we are excited to launch The Reserve Residences – an iconic centrepiece in the heart of Bukit Timah, featuring four unique collections to accommodate different lifestyle preferences and family needs. The feedback we have received has been very encouraging. We are pleased that its meticulous design, thoughtful and well-curated spaces, over 70 recreational and social facilities and fair market pricing, have sparked keen interest amongst our potential homebuyers. We look forward to playing a vital role in rejuvenating this precinct, and bringing this vibrant mixed-use integrated development to life.”
Beauty at Nature’s Doorstep; Prime Location and Unparalleled Convenience
Strategically located in the heart of Bukit Timah and at the foothills of the Bukit Timah Nature Reserve, The Reserve Residences is part of a mixed-use development integrated with a transport hub. Its excellent locale offers residents easy access to food, retail and community spaces, as well as outdoor activities and nature exploration.
It sits above a sizeable retail mall Bukit V with over 20,000 sqm gross floor area, and is amalgamated with the upcoming bus interchange, with direct access to Beauty World MRT Station. CS Fresh is confirmed as an anchor tenant at Bukit V, and the mall has made provisions to accommodate a childcare centre.
The mixed-use integrated development combines residential living with lifestyle and public spaces. It features a sizeable retail mall Bukit V with over 20,000 sqm in gross floor area, a bus interchange, and direct access to Beauty World MRT Station.
Goh Wee Keng (吴伟卿), Head of Real Estate Property & Projects, DFI Retail Group, said, “CS Fresh is delighted to be part of this energetic new retail space at Bukit V as an anchor tenant, supporting the integrated development’s needs and its community at large. Customers can expect to be delighted with Singapore’s largest range of certified fresh organic produce, premium meats, household essentials, an extensive selection of beers, wines, and spirits in addition to a wider and more exciting range of food-to-go options as well as new and exciting partner collaborations.”
The Reserve Residences is also well within the vicinity of renowned schools and tertiary institutions, including Methodist Girls’ School and Pei Hwa Presbyterian Primary School which are within 1km from the development.
With direct access to Beauty World MRT Station with its seamless connection to the extensive downtown MRT network and the Integrated Bus Interchange, The Reserve Residences is one MRT stop away from the future Cross Island Line. In addition, it is close to major expressways such as the PIE, BKE, and KJE. It is also just minutes’ walk away from Bukit Timah Market and Food Centre and restaurants at the Cheong Chin Nam Road area, and is close to nearby destinations such as The Rail Mall, Adam Food Centre, Holland Village, The Star Vista, and Orchard Road Shopping Belt.
Variety of Layouts Within Four Distinct Collections
In conceptualising The Reserve Residences, acclaimed architectural practice WOHA crafted an environment to harmonise people with nature, including showcasing naturally-lit open living spaces that are ventilated amid lush greenery. With people’s affinity to nature as a central element binding the live, work and play spaces throughout the development, thoughtful layouts within each unit allow for maximum spatial flexibility and connection to the outdoors. This connection to natural elements, nature and tranquillity flows through to the geometric lattice façade of The Reserve Residences, which serves dual purposes of shading the living spaces from direct sunlight while unifying the appearance of the development.
The Reserve Residences features 732 residential units with a wide array of layouts and unit types under four collections; The Reserve Residences collection with 502 units of 1- to 3-bedroom units, Horizon (绿野) collection with 167 units of 3- and 4-bedroom units, Creekside (映溪) collection with 48 units of 3- and 4- bedroom units, as well as 15 exclusive Treetops (蔚冠) premium units of 4- to 5-bedroom units, duplexes and penthouses. The five sizeable penthouses are located on level 32, with sizes ranging from 231 to 261 sqm.
Its apartments range from 41 sqm for a 1-bedroom to penthouse units sized from 231 to 261 sqm. Buyers vying for the 3-, 4-, or 5-bedroom units will also have the option of private lift access at their doorstep. (For more information on these four distinct collections, please refer to Annex A.)
There will also be approximately 160 units of serviced apartments within its premise.
A Plethora of Over 70 Facilities
Designed with residents’ well-being in mind, The Reserve Residences encompass extensive facilities to support personal fulfilment. With over 70 lifestyle facilities, residents can seamlessly transition from work to relaxation, enjoying a fulfilling lifestyle within the comfort of their own homes. Residents can indulge in wellness activities at the activity decks, 600m jogging trail, and sky-gym, while being enveloped in the unblocked panoramic view of the Bukit Timah Nature Reserve, providing a serene environment for relaxation and rejuvenation.
All units come equipped with the convenience of technology, which includes smart home features such as a Smart Gateway and e-Concierge to provide accessibility and peace of mind at any time.
With its strategic location, seamless integration of retail and residential spaces, and numerous lifestyle facilities, The Reserve Residences sets the stage for a future-ready home that empowers residents to maintain a balanced and fulfilling lifestyle personally and with the family.
Launching on 27 May 2023, The Reserve Residences sales gallery will open to members of the public from 28 May 2023. The sales gallery, located at 100A Upper Bukit Timah Road opens daily from 10am to 7pm. Interested buyers may contact Far East Organization or its marketing agents which include ERA, Huttons, OrangeTee & Tie, PropNex and Singapore Realtors Inc (SRI). For enquiries or to make a viewing appointment, please call the Far East Organization hotline: +65 6534 8000 or visit the official project website thereserveresidences.com.sg. FACT SHEET: THE RESERVE RESIDENCES
Plot 2 – Underground pedestrian link to Beauty World MRT Station
No. of Storeys
Low-Rise block (4 towers): 6 to 11 Storeys with roof terrace on Level 12
Mid-Rise block (2 towers): 4 to 16 Storeys with sky terrace on Level 17
High-Rise block (2 towers): 4 to 32 Storeys with roof terrace on Level 33
Carpark Facility
L1 Carpark – Mall and Serviced Residences
L3, L4, L5 Carpark – Residential (No dedicated carpark lots)
Tenure
99 years leasehold wef 29 November 2021
Estimated TOP Date
Q1 2028
Expected Legal Completion
31 Dec 2031
Consultants
Architect
WOHA Architects
Landscape Architect
ICN Design International
M&E Engineer
Bescon Consulting Engineers
C&S Engineer
KTP Consultants
Facilities
Level 4
Foliage Garden
Palm Grove
Hammock Garden
600m Jogging Trail
Outdoor Fitness 1
The Perch Living Room
Petunia Pavilion
Paloma Pavilion
Angelica Dining Pavilion with BBQ
Anise Dining Pavilion with BBQ
Level 5
Grand Lawn
Dog Run
Play Lawn
Water Cascade
Garden Decks 1
Terrace Deck
Terrace Steps
Commune Deck
50m Lap Pool
Aqua Gym with Spa
Changing Room with Sauna
Outdoor Fitness 2
Aqua Cove
Family Pool
Kids’ Pool
Play Pool
Spa Pool
Adventure Playground
The Perch Reading Room
The Raintree Function Room
The Alstonia Function Room
Casuarina Entertainment Rooms
The Willow Function Room
Pool Cabanas
Shorea Cabanas
Lovage Dining Pavilion
Lemongrass Dining Pavilion
Linden Dining Pavilion
Level 6
Zen Decks 1
Garden Deck 2
Tennis Court
Recreational Court
Outdoor Fitness 3
Kids’ Play Corner
Swing Garden
Retreat Cabanas
Level 12
Community Garden 1
Succulent Garden
Creekside Cabanas
Tarragon Dining Pavilion
Thyme Dining Pavilion
Tansy Dining Pavilion
Level 17
Community Garden 2
Meadow Garden
Vista Glades
Zen Decks 2
Vista Gym
The Tembusu Living Room
The Nest Work Pods
Cinnamon Dining Pavilion
Cayenne Dining Pavilion
Cumin Dining Pavilion
Chicory Dining Pavilion
Cassia Dining Pavilion
Level 32
Canopy Deck
Level 33
Sky Lawns
Sky Decks
Sage Dining Pavilion
Saffron Dining Pavilion
Savory Dining Pavilion
Sorrel Dining Pavilion
Safflower Dining Pavilion
The Reserve Residences Perspectives – Hi-res images can be downloaded from this link.
The only mixed-use integrated development with a transport hub situated in the heart of Bukit Timah and the foothills of the Bukit Timah Nature Reserve. The Reserve Residences is inspired by the verdant landscape of the neighbouring nature parks.
The Reserve Residences features 732 residences with a variety of layouts under four unique collections. Its excellent locale offers residents easy access to food, retail and community spaces, as well as outdoor activities and nature exploration.
The mixed-use integrated development combines residential living with lifestyle and public spaces. It features a sizeable retail mall Bukit V with over 20,000 sqm in gross floor area, a bus interchange, and direct access to Beauty World MRT Station.
Annex A
Collections
Description
The Reserve Residences
502 units
1- to 3-Bedrooms
[41 sqm to 113 sqm]
The residential towers of The Reserve Residences collection soar above its lush landscaping and calming pools. Choose from a range of comfortably-sized 1-bedroom to 3-bedroom homes that best suit your lifestyle needs.
Each home embodies the essence of a tropical residence, with an open flow of natural light and where space is optimised for contemporary living and designed with thoughtful storage solutions.
Horizon
167 units
3- to 4-Bedrooms
[122 sqm to 151 sqm]
Selected Horizon units offer exceptional, tranquil views of the neighbouring Bukit Timah Nature Reserve and Rifle Range Nature Park. This collection comprises 3- and 4-bedroom homes ideal for families and multi-generation living.
Designed with full-height windows, stunning vistas of the sky and nature frame your home. Living and dining areas are generously sized to create the perfect place for social gatherings.
Creekside
48 units
3- to 4-Bedrooms
[104 sqm to 203 sqm]
The limited edition 3- to 4-bedroom Creekside homes come complete with balconies overlooking rejuvenating views of the pool or verdant greens. These exclusive homes are situated within a low-rise block, away from the main residential towers.
For added privacy, selected homes in this collection have a private lift.
Treetops
15 units
4- to 5-Bedroom Apartments, Duplexes and Penthouses
[145 sqm to 261 sqm]
At Treetops, scenic views are perfectly complemented by the elegant interiors, accented with choice marble finishings. Enjoy the grandeur of the space with a generous ceiling height of up to 3.2m.
Each unit in this collection has either a private lift or direct car park access.
The issuer is solely responsible for the content of this announcement.
About Sino Group
Established in 1971, Sino Group has grown with the communities it serves into one of Hong Kong’s leading property developers. With the mission of Creating Better Lifescapes, Sino Group seeks to build a better community together.
Its core business of developing properties for sale and investment is complemented by a full range of property services. It is also a major player in hotel investment and management to ensure a holistic Sino Experience. In addition to a diversified portfolio of residential, office, industrial, retail and hospitality properties in Hong Kong, the Group has footprint in mainland China, Singapore and Australia. It has been involved in 250 projects spanning 130 million sq ft as well as a team that counts more than 11,000 across the Asia Pacific.
Far East Organization is a Christian Enterprise, which develops real estate and operates businesses by serving with grace, love, integrity and honesty. Together with its Hong Kong-based sister company Sino Group, they are one of Asia’s largest real estate groups, with operations in Singapore, Malaysia, Australia, Japan, China (Mainland and Hong Kong) and USA. Far East Organization is the largest private property developer in Singapore, having developed over 780 developments across all segments of real estate including 55,000 private homes in Singapore since its establishment in 1960. Far East Organization includes three listed entities: Far East Orchard Limited, Far East Hospitality Trust and Yeo Hiap Seng Limited. Far East Organization is the winner of 13 FIABCI World Prix d’Excellence awards, the highest honour in international real estate.
Malaysia, aspiring to be the main cancer treatment hub in Asia, sets out to provide excellent cancer care services with advanced cancer screening innovations.
KUALA LUMPUR, MALAYSIA – Media OutReach – 25 May 2023 – Cancer is a leading cause of death globally. Nevertheless, early identification of the disease has been linked to lower mortality rates, with the survival rate at one and five years for most cancers being higher if the cancer is detected at the first stageand treated early.
Malaysia, as a Cancer Care Centre of Excellence in the region, is a top-of-mind destination among healthcare travellers. This is due, in part, to the country’s commitment to cutting-edge cancer screening and treatment capabilities as well as its quality patient care and service.
According to Dr. Aqilah Othman, Consultant Clinical Oncologist at Sunway Medical Centre, cancer screening allows doctors to detect any abnormal growth or lumps in the body. “These may be benign or at a precancerous stage. The removal of these lesions can reduce the risk of them transforming into cancer,” she added.
Alongside a better prognosis, early cancer detection may reduce the need for more intrusive and aggressive therapies. For instance, a tiny and localised tumour may require less invasive treatments or less extensive surgeries, leading to a lower risk of complications and faster recovery. Early detection of the disease could also lessen the need for systemic treatments with possibly more harmful side effects or for prolonged radiation therapy.
Malaysia stands at the forefront in implementing advanced and modern cancer screening tools in order to optimise the treatment quality and patient care. Sunway Medical Centre is equipped with a Digital Positron Emission Tomography/Computed Tomography (PET/CT) scanner, for one.
“A Digital PET/CT scanner can support higher quality imaging, which helps nuclear medicine physicians to detect even the tiniest lesions in a patient’s body. On top of that, we also use the M2PK Stool test, which is a visual immunochromatographic rapid test that is used to detect the M2-pyruvate kinase (M2-PK) enzyme in stool samples for colorectal cancer screening,” shared Dr. Heng Siew Peng, General Manager of the Cancer Centre at Sunway Medical Centre.
Malaysia is also home to a first-in-Asia Mediso AnyScan hybrid imaging system. Located in Thomson Hospital Kota Damansara, this hybrid imaging system is capable of carrying out all contemporary nuclear medicine operations, including both PET and single-photon emission computed tomography (SPECT) imaging. The machine integrates the characteristics of these two imaging modalities into a single device, providing for a wide range of diagnostic capabilities. This gives medical practitioners extensive information on their patients’ functional and anatomical characteristics as well as assisting in diagnosis and therapy planning.
With top-notch cancer screening tools, Malaysia is able to provide patients with more accurate and precise cancer diagnoses. The location, size and metabolic activity of tumours can all be precisely determined with advanced and modern imaging technologies. This aids medical professionals in developing action plans that can precisely target cancerous cells or particular molecular networks that drive the development and spread of cancer. Understanding a tumour’s molecular profile allows medical professionals to choose the most targeted therapy, improving the likelihood of successful treatment while minimising harm to healthy tissues.
The majority of private hospitals in Malaysia are set up to provide screening, diagnosis, treatment and follow-up care for all cancer-related treatments in one convenient location. Therefore, those who travel for healthcare and need cancer treatment have a lot of discretion in selecting the facility that best suits their needs. Additionally, they are also assured of prompt care and treatment because there is typically little to no waiting time for an appointment.
The issuer is solely responsible for the content of this announcement.
About The Malaysia Healthcare Travel Council
The Malaysia Healthcare Travel Council (MHTC) is a government agency under the Ministry of Health Malaysia that has been entrusted with the responsibility of curating the country’s healthcare travel scene. Founded in 2009, MHTC works to streamline industry players and service providers in facilitating and growing Malaysia’s healthcare travel industry under the brand “Malaysia Healthcare” with the intended goal of making Malaysia the leading global healthcare destination. MHTC works closely with over 80 private healthcare facilities in Malaysia, who are registered members of MHTC.
KUALA LUMPUR, MALAYSIA – Media OutReach – 25 May 2023 – Youvit, formulated in the United States, has become Indonesia’s number-one vitamin gummy brand since 2017 and is now expanding its business to Malaysia. Youvit product range is a complete “one-a-day vitamin gummy” for immunity, hair fall, glowing skin, and active kids that contains natural ingredients without artificial sweetener, coloring, and flavoring. Not only it offers delightful ways to take our daily nutrient needs, Youvit is also easy to consume.
With its beauty supplements, Youvit aims to make more people aware that healthy skin and hair start from the inside and help them fulfill their beauty goals from within, whether it’s hair fall or wishing to obtain brighter skin. Instead of offering a quick fix, Youvit’s two beauty product lines are helping people maintain their wellness over time: Biotin, which contains 7 vitamins and 2 minerals such as Biotin, Inositol & Zinc + Ginseng for stronger hair roots and anti-hair fall; Collagen, which contains 1000mg Collagen and Vitamin C for anti-aging and glowing skin.
Continuously innovating and knowing that according to study, up to 90% of kids do not get enough in their regular diet, Youvit has multivitamin for kids and DHA products which has fast become “The Kids’ Favourite Vitamin & DHA Gummy”. The multivitamin for kids contains 10 vitamins and 3 minerals with 12 vegetables, fruits, and Curcuma for children’s growth and development, while the DHA Kids gummy contains DHA, EPA, ALA for brain development and eye health.
In Malaysia, Youvit is already available in more than 1,500 retailers, such as Guardian, Watson, MyNews, AEON Wellness, AEON Supermarket, Jaya Grocer, and online at its official store in Shopee. Youvit beauty products can be found exclusively in Watsons and Youvit Kids DHA products are exclusively sold in Guardian. Head to www.youvit.com.my for further details about the products. Hashtag: #YouvitMalaysia #VitaminGummy #TheOneaDayVitaminGummy
The issuer is solely responsible for the content of this announcement.
YOU Malaysia Sdn. Bhd.
YOU aims to lead in health and lifestyle functional food in Emerging Asia, focusing on millennials. We build consumer health ventures for densely populated economies, offering affordable premium products with sustainability and consumer focus. Through retail, direct sales, and subscription offerings,we ensure consistent intake and repeat purchases. YOU’s first product, multivitamin gummy, quickly became the best-selling vitamin product selling over 1,400,000 sachets in the first 18 months across 15,000 retail locations.
Proposed final dividend of HK$0.87 cents per share
HONG KONG SAR – Media OutReach – 24 May 2023 – The board of directors of Oi Wah Pawnshop Credit Holdings Limited (HKEx stock code: 1319.HK, the “Group” or “Oi Wah”) announced its annual results and its financial position. For the year ended 28 February 2023 (“FY2023”), the Group recorded revenue of approximately HK$165.8 million and profit attributable to shareholders of the Company of approximately HK$86.1 million. During the year, net interest margin improved by 0.6 percentage point to 15.6%.
During the year, earnings per share was HK 4.5 cents. The Board of Directors recommends a final dividend of HK 0.87 cents.
Business Review
Mortgage loan business
In FY2023, the Group recorded interest income of the mortgage loan business of approximately HK$91.5 million, which accounted for approximately 55.2% of the Group’s total revenue. The gross mortgage loan receivables was approximately HK$754.5 million as at 28 February 2023 with the total new mortgage loans granted amounted to approximately HK$596.5 million in FY2023. During the year, there were 101 new cases of mortgage loan transactions, with average loan size of approximately HK$5.9 million.
During FY2023, the Group has continued to maintain a prudent approach when granting loans, underpinned by a focus on building a resilient loan portfolio amid the uncertain environment brought about by the pandemic. We are of the view that maintaining a cautious underwriting stance and healthy loan portfolio will position the Group well for the economic recovery and eventual normalization ahead. During FY2023, the loan-to-value ratio for the first mortgage is approximately 55.2%, while overall loan-to-value ratio for subordinary mortgage was approximately 56.2%, of which, loan-to-value ratio of subordinary mortgage that the Group participate in was approximately 9.8%.
Pawn Loan Business
During FY2023, the revenue from the pawn loan business increased by 7.2% to approximately HK$74.3 million and the aggregate pawn loan amount granted increased by approximately 22.1% to approximately HK$966.3 million, thanks to an active second-hand luxury market, especially for watches, which has driven relevant refinancing demand. During FY2023, the Group continued to channel resources to advertising and promotion to enhance the Group’s brand exposure. Such effort has generated demand for one-to-one pawn loan appointment services for pawn loans exceeding HK$0.1 million. The number of pawn loan transactions granted of such amount increased to 725 transactions in FY2023. The average loan amount also increased to approximately HK$13,600 per transaction.
Prospects
Looking ahead, the lifting of COVID-19 restrictions and the launch of the “Hello Hong Kong” campaign by the HKSAR government to welcome global visitors mean the economy is poised for recovery. The Group plans to leverage the economic upswing by opening a new premium service center at MTR station in the first half of the next fiscal year. It will provide customers with a private and streamlined alternative financing solution that differentiates us from traditional banks and money lenders. The Group plans to integrate with fintech developments of a pawn loan app, acting as a pick-up point for customers. The entire application process will be digitized and made convenient through the app where customers can book appointments, get initial collateral evaluations, loan quotes and apply for loans. Our Group believes that by offering a simple, quick and efficient one-stop loan solution catering to the needs of high net worth individuals, MTR travelers and SMEs, we will gain a core competitive advantage and driver of future growth.
As Hong Kong reconnects with the world, the Group is excited to seek overseas expansion opportunities, including partnering with reputable foreign funds to grow our syndicated loan businesses. With over 45 years of industry experience in pawn loans and alternative financing as well the first large-scale listed pawnbroker in Hong Kong, the Group has built a strong reputation and expertise in this segment. The Group believes that it can leverage this competitive edge to further expand its loan portfolio internationally, diversify geographically beyond Hong Kong and drive business momentum. With Hong Kong’s role as a global financial hub and connectivity to Mainland China and the rest of Asia, the Group is well positioned to serve as a financing partner for foreign funds and institutions.
Mr. Edward Chan, Chairman and CEO of the Company, said, “With the recession of the pandemic and the gradual recovery of the economy, pawn loan business and mortgage loan business of the Group has maintained steady growth during the year. Looking ahead, we will strive to capture the opportunity to expand our market share when the business activities pick up, and to create greater returns to our shareholders.”
Hashtag: #OiWah
The issuer is solely responsible for the content of this announcement.
Oi Wah Pawnshop Credit Holdings Limited
Oi Wah is a financing service provider in Hong Kong, mainly providing short-term secured financing, including pawn loans and mortgage loans. The Group established its first pawnshop in 1975 and currently owns 10 pawnshops in various locations in Hong Kong. Oi Wah diversified into mortgage loan business in 2009. The Group is the first local pawn shop which successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 12 March 2013.