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Chen Zhi Scholarship Jointly Launched by Prince Group and Ministry of Education Youth and Sport to Prepare Cambodian University Students For Post-Pandemic Future

Full tuition fees and stipends for 400 university students to advance sustainable development, financial inclusion and world-class hospitality; Awardees to get internship and employment opportunities at Prince Group

PHNOM PENH, CAMBODIA – Media OutReach – 8 September 2021 – Prince Holding Group (“Prince Group”), one of the largest conglomerates in Cambodia, has finalized a memorandum of understanding (MOU) with the Ministry of Education Youth and Sport (MoEYS) to launch a scholarship program for Cambodian university students. Prince Group will provide full tuition fees and stipends for 400 selected students to pursue their Bachelor of Science degrees at top Cambodian universities including Royal University of Phnom Penh, National University of Management, and Institute of Technology of Cambodia. In total, Prince Group will provide over US$2 million across seven years.

Chen Zhi Scholarship MOU Signing

Chen Zhi Scholarship MOU Signing

Prince Group Chairman Neak Oknha Chen Zhi in conversation with the MoEYS team

As public-private partnerships are essential, Prince Group will work with the government to achieve the goals outlined in the Education Strategic Plan (2019-2023).  Prince Group will work with MoEYS to ensure students get financial support, training, mentoring and work opportunities to bolster learning in three areas: sustainable development of the real estate sector; advancing financial inclusion and the digital economy in the banking and finance industries, and the promotion of world class hospitality standards, meeting the future human capital needs of the local economy.

Through internships, students will learn from top professionals in Cambodia – Prince Group, which oversees more than 80 businesses, possesses a diverse workforce with 20% of employees hailing from places like Singapore, Malaysia and Greater China.

His Excellency Hang Chuon Naron, Cambodia’s Minister of Education Youth and Sport, commented: “We welcome the cooperation of employers that take their role as educators seriously. Cambodia’s road to recovery will require bright young minds from all parts of the country and MoEYS, along with its partners, will remove obstacles, offer targeted guidance, ensure equitable access to education and work opportunities to ensure talented students focus on learning and acquiring skills that will be important for Cambodia’s future.”

“We are pleased to launch one of Cambodia’s largest scholarship programs sponsored by a private enterprise,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group. “Prince Group’s various units are excited to welcome Cambodian students into our family as we will create strong internship and management trainee programs to train, nurture and educate the leaders of tomorrow. The Chen Zhi Scholarship seeks to provide both academic and practical experience for the students, by providing both a first-rate education and exposure to an international working experience.”

The scholarship will be spearheaded by Neak Oknha Chen Zhi, Chairman of Prince Group, who was recently recognized as the Entrepreneur of the Year among leaders of conglomerates at the 2021 International Business Awards, due to his business and corporate social responsibility leadership over the course of the pandemic. Under Chen Zhi, Prince Group follows a holistic environment, social and governance framework (ESG) that aims to make a long-term impact in Cambodia. Prince Group has opened the Prince Horology Vocational Training Center, Cambodia’s first independent watch school. The training center gives Cambodian youths the opportunity to learn a new artisanal skill – watchmaking – and gain the necessary experience to help them in job markets in Cambodia and abroad. In August this year, Prince Group had also sponsored the Career Preparation Program run by Caring for Cambodia, a leading charity, to help high school students. Prince Group will continue to actively seek out ways to contribute to better educational outcomes for Cambodians from all walks of life.

About Prince Holding Group:

Prince Holding Group is one of the largest conglomerates in Cambodia, with its various units focusing on three core areas: real estate development, financial services and consumer services.

Prince Holding Group’s key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, Belt Road Capital Management, as well as Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 80 businesses in Cambodia operating in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors etc.

Rising foreign direct investment, free trade agreements with leading countries and future participation in the Regional Comprehensive Economic Partnership are expected to act as key drivers for the Cambodian economy, supported by pro-industry policy initiatives by the government.

Leveraging a network of industrial, business and financial professionals across Asia, Prince Holding Group has laid the foundation to be a vital conduit for local and international capital. The Group is firmly committed to the long-term development of Cambodia. For example, Prince Holding Group is developing Ream City, an upcoming tourism and residential project that will be one of Cambodia’s first sustainable real estate projects, aiming to secure $16 billion in total investment for the region. Located conveniently within a 10-minute drive from the Sihanoukville International Airport, the project aims to contribute to economic recovery in Sihanoukville.

Moving forward, Prince Holding Group will continue to seek out opportunities to play an important role in Cambodia, through partnerships or direct investments into key industries for the betterment of Cambodians and the local economy.

#PrinceHoldingGroup

Cognian and Avnet Enter Strategic Engagement

Avnet, a global technology distributor and solutions provider and Cognian, an Australian-headquartered global Internet of Things (IoT) connectivity provider of smart building management solutions, today announced that they will collaborate to accelerate and scale IoT deployments worldwide, and provide customers with seamless industry leading connectivity solutions being built on Avnet’s IoTConnect Platform.

 

PHOENIX AZ, U.S.A & SYDNEY, AUSTRALIA – Media OutReach – 8 September 2021 – Avnet (Nasdaq: AVT ) and Cognian have entered a strategic relationship which will significantly increase the reach and scale for global customers, by providing immediate access to Cognian’s IoT connectivity platform enabled by their cutting edge mesh network technology, Syncromesh Smart Canopy and Avnet’s IoT Connect cloud platform.

 

Avnet’s proven expertise and strong position in IoT PaaS enablement and expansive customer base and strategic focus on IoT is the perfect match to accelerate IoT deployments and enable Cognian to seamlessly connect a wide range of third-party BLE-based devices, addressing the connectivity and hardware needs of connected IoT solutions.

 

Cognian’s Syncromesh Smart Canopy wirelessly turns every building into a human-centric smart building with management of cost, carbon emissions, safety, and well-being at its core. The unified data connectivity platform enables remote and autonomous control over smart building capabilities such as access, occupant capacity, heating/cooling, air quality and lighting control.


Cognian offers proven wireless solutions to build and securely connect global Building Management Systems quickly, securely and in a cost-effective manner. In addition, by using Avnet’s Microsoft Azure-powered IoTConnect platform, Cognian can seamlessly connect multiple devices to the cloud and address the software and hardware needs of those IoT solutions. Cognian continues to win landmark commercial building projects across Australia in addition to establishing its footprint in Asia and the USA, through strategic relationships with tier one partners such as Avnet.

 

Avnet’s Partner Program enables system integrators (SIs) and original equipment manufacturers (OEMs) to build new solutions and service models for their practice on Avnet’s IoTConnect platform.  Solution developers and OEMs can create cloud-based applications that communicate with the Avnet IoTConnect API with ease, avoiding the complexity of sensor interfaces, protocols, security and device management. Connected suppliers can expand their market presence with preconnected devices that accelerate customer adoption and reach.

 

Lou Lutostanski, IoT vice president, Avnet said, “Avnet is excited to partner with Cognian in order to bring world class building connectivity at the IoT edge to our growing family of IoTConnect partners and customers.  With the IoTConnect platform and Cognian’s unique Syncromesh wireless technology, our partners are able to bring open, secure, integrated, and scalable end-to-end solutions to their end customers.”

 

Mark Blum, CEO of Cognian, said, “Our philosophy is all around openness: open standards and open partnerships with companies who are driving smart building innovation across industries from commercial real estate to retail, convenience stores, logistics and everything in-between. With the commercial IoT space going from strength-to-strength globally, our partnership with Avnet amplifies our global reach. This in turn means we can help our partners and customers access an even broader range of third party devices that can be enabled and easily connected by Syncromesh through the Avnet IoTConnect Platform.”

About Cognian

Cognian Technologies is a fast-growing Australian company whose mission it is to make existing buildings smart buildings, and smart buildings smarter. Headquartered in Sydney, Australia, the company was founded in July 2016. Its flagship product Syncromesh is a wireless Internet of Things (IoT) data connectivity platform – the ‘Central Nervous System’ for the building that empowers building owners and operators to simply add a range of building management solutions to lower a building’s carbon footprint, reduce energy costs, and increase tenant satisfaction, regardless of the buildings size, location or age. In November 2020 Cognian’s Syncromesh was named PropTech of the Year at the Urban Developer Awards. Learn more about Cognian at www.Cognian.com

About Avnet

As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for an entire century. We support customers at each stage of a product’s lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com. More information on the Avnet Partner Program can be found here.

#Avnet

GBG Partners SEON to Enhance Online Fraud Prevention for Fintechs and Digital Banks in APAC

SINGAPORE – Media OutReach – 8 September 2021 – GBG (AIM:GBG), the global expert in digital identity, helping businesses prevent fraud and meet complex compliance requirements, has announced a partnership with SEON. With this partnership, GBG strengthens online fraud prevention for banks, fintechs, and digital banks by using email, IP, phone and social media as alternative data for fraud detection, while meeting compliance and data privacy needs. SEON’s technology is fully integrated into the GBG Intelligence Center.

 

Digitilisation is accelerated by the COVID-19 pandemic, where digital banks in Asia Pacific reported a threefold increase in their customer bases in 2020 as compared to traditional banks. Mature economies like Singapore and Hong Kong have established high fintech adoption rates, and developing countries like Vietnam, Cambodia and the Philippines are gearing to achieve financial inclusion with 70% of Filipino adults by 2023 to provide financial access to low-income households, gig economy, small businesses, and new-to-bank GenZ.

 

As Financial Crime 4.0 continues to exacerbate, the partnership with SEON enables GBG to increase effectiveness in combatting modern day fraud by validating the most active and present-day e-lifestyle based consumer touchpoints such as email addresses, IP location, social media, phone and SIM data to detect fraudulent anomalies in account application and loan origination, as well as to onboard new-to-bank population. Financial institutions (FIs) can look to reducing fake and malicious email address usage to as low as 0% and increase detection of suspicious IP-related applications and transactions by up to 80%.

 

Remote Fraud Management with Accuracy and Automation

 

FIs utilising the GBG Intelligence Center, a key module in GBG’s flagship end-to-end financial crime management solution – Digital Risk Management and Intelligence platform, benefit from enriched data intelligence to augment fraud detection and prevention accuracy by reducing manual work for FIs, false positive and false negative rates.

 

SEON adds to the performance of the Intelligence Center with its track record of zero false positives for email, phone and IP. Especially as fraud costs increasingly outweigh fraud management spend, this partnership helps risk management teams to increase efficiency by reducing time spent on manual tasks (eg checking of email, phone and IP data) by up to 50%. Furthermore, as remote working arrangements continue, the ability to automate fraud detection and prevention with a high degree of accuracy remains crucial. This partnership will further strengthen GBG’s capabilities to support enterprises with agility and flexibility.

 

Dev Dhiman, Managing Director of GBG, APAC, says, “To effectively address the rise in digital financial crime simply means that fraud detection and prevention measures need to be constantly modernised. This partnership with SEON continues to expand GBG’s datasets to better combat against identity crime, in particular synthetic ID, impersonation, identity theft, account takeover, money muling, and SIM swap fraud typologies.”

 

“Close to half of GBG’s customers are in financial services, it’s a top priority for us to build a watertight environment to avert any data point from being used by bad actors to commit fraud. By constantly enhancing how our platform performs, we can better protect our customers and build digital trust between financial institutions and their consumers. As the digital economy continues to evolve, the GBG Intelligence Center will continue to grow its strong network of partners to equip all FIs with the best-of-breed data and technology to fight fraud,” continues Dhiman.

Double Down on Fraud with AI & Machine Learning

 

Complementing GBG’s artificial intelligence (AI)-driven approach to detect fraud, SEON uses open data and whitebox machine learning, giving businesses complete visibility and total control of how the AI decisions are made.

 

With SEON’s expertise and access to data, the integration with GBG Intelligence Center will provide enterprises with an even more thorough and unified fraud detection process:

  • Achieve up to 60% reduction in fraud volume in enterprises
  • Wide data coverage in APAC
  • 100% GDPR and ISO 27001 compliant to meet data and privacy standards
  • Leverages only on proprietary email, IP and phone data going back a decade
  • Connected to over 30 social media platforms to uniquely see a comprehensive view of a person’s social network footprint with their digital footprint

SEON’s APAC customers include Grab, Danabijak, ATM Online, HomeCredit, 10Bet, and Robocash.

Jimmy Fong, Chief Commercial Officer at SEON, added, “The ability to identify fraudulent behavioral patterns also means businesses can discover hidden revenue opportunities. SEON’s AI adapts to any business model, learning how it operates to create fully transparent and visible rules. This creates a scalable fraud prevention solution for all online business types, whether as a payment service provider, payment gateway, neobank, Buy Now Pay Later (BNPL), gaming, anti-money laundering and more. The combination of GBG and SEON is a modernised solution for a fast-moving digital age, set to create greater agility to mitigate growing risks of fraud brought on by the pandemic, while smoothening and automating financial crime management processes without compromising user experience.”

This partnership forms part of GBG’s commitment to protect and provide FIs with end-to-end digital fraud and compliance solutions. The GBG Intelligence Center, with SEON incorporated, will be available to FIs across APAC, including Vietnam, Cambodia, the Philippines, Malaysia, and Thailand.

 

About GBG:

GBG offers a range of solutions that help organisations quickly validate and verify the identity and location of their customers. Our market-leading technology, data and expertise help our customers improve digital access, deliver a seamless experience and establish trust so that they can transact quickly, safely and securely with their customers online.

Headquartered in the UK and with over 1,000 team members across 16 countries, we work with 20,000 customers in over 70 countries. Some of the world’s best-known businesses rely on GBG to provide digital services and keep the economy moving, from US e-commerce giants to Asia’s biggest banks and European household brands.

To find out more about how we help our clients establish trust with their customers, visit www.gbgplc.com/apac, follow us on Twitter @gbgplc or LinkedIn.

#GBG

About SEON:

SEON is founded in 2017 by Tamas Kadar and Bence Jendruszak, with head offices in Budapest and London. Backed by financial leaders such as founders of Tide, Revolut, SumUp, N26 and investors in Spotify and Klarna, SEON is on a winning mission to fight fraud on a global scale. SEON is partnered with Patreon, Air France, Grab, Afterpay, and albo Bank, to add new capabilities to their fraud prevention solution. SEON also has offices in Austin and Jakarta to support international clients.

To find out more about SEON, visit www.seon.io or follow us on LinkedIn.

Vang Vieng To Receive New Roads, Infrastructure Upgrade

Vang Vieng

Vang Vieng is to receive a USD 8 million upgrade to improve its infrastructure, according to the Vientiane Times.

Bangalore International Airport Limited Appoints Plaza Premium Group to Reinvent Passenger Services

Enhancing 22 services from customer experience to technology innovation

HONG KONG SAR – Media OutReach – 7 September 2021 – Plaza Premium Group (PPG), the global award-winning airport hospitality services provider, has been appointed by Bangalore International Airport Limited (BIAL) to manage Passenger Services at the Kempegowda International Airport, Bengaluru (KIAB/BLR Airport). This is in line with BIAL’s vision to provide delightful travel experiences at BLR Airport.

 

Bangalore International Airport

 

Create “One Team, One Airport, One Experience, One Platform” Service Model

The 10-year full-service management appointment covers the entire portfolio of BLR Airport’s 22 services.

The 360-degree airport service delivery scope includes: Service Delivery, Control Center, Training Center, Customer Engagement, Marketing Communications, Sales & Distribution as well as Technology. The agreement covers a wide range of services, including Meet and Assist, Porter Services, Luggage Storage and Flower Booking, PRM (Persons with Reduced Mobility) Services, Limo Services, Concierge Services, Valet Parking, Car Spa, Travel Concierge, Pet Care Service, Personal Shopper, Robotic Assistance etc. and more services will be introduced to enable an end-to-end and globally connected passenger journey.

 

The appointment of PPG signifies a timely and significant step in transforming airport experiences, under the concept of “The Power of One” to deliver “One Brand, One Experience, One Service Standards through One Platform under One Team”. BIAL and PPG will collaborate in addressing the desires of “New Travel” – with seamless service delivery, world-class standards and quality, technology and innovation, as well as commercialisation optimisation.

 

“We are optimistic that our timely partnership with Plaza Premium Group (PPG) will bolster our mission to transform passenger experience at BLR Airport. The Power of One concept will ensure optimal service and safety standards, along with seamless airport experience. This partnership is a positive step towards restoring passenger confidence in air travel,” said Hari Marar, Managing Director & CEO, Bangalore International Airport Limited.

 

Taking Airport Service Innovation To The Next Level

As part of the mission and strategy to deliver seamless, optimal and data-driven operation excellence, Plaza Premium Group has teamed up with global IT services leader Tata Consultancy Services (TCS) to develop an end-to-end passenger services technology platform to connect the complexity of reservation, sales & marketing, customer engagement, back-of-house command and control, manpower management, training center and the entire operation information management. The newly developed PPG Passenger Services Technology Platform will be built based on the existing PPG operating platform with tailored architecture that suits BIAL’s passengers needs. The platform will include an Omni-channel Booking Engine which enables worldwide sales & distribution, a Customer Engagement Center with customer profiling & personlisation capabilities, a Service Delivery Platform for dispatch and real-time incident management, and a Back Office System which powers HR, administration, asset and information management.

 

PPG is also partnered with one-stop customer engagement technology service provider oneDirect to ensure passenger interactions are managed through one-single platform via various touchpoints.  Through the “Power of One” concept, Plaza Premium Group will coordinate the standards, data & insights, methodology & efforts, with consultation and input from BIAL’s management and operation teams to further optimize and commercialize customer experience and achieve the vision for unmatched, memorable, world-class passenger journey.

 

“We are beyond grateful to be trusted by BIAL to jointly create world-class airport experience and very importantly, to serve millions of domestic and international travellers in the new era of travel. India is one of the fasting growing air travel markets with Bangalore as the key driving force. PPG is no stranger to the Indian travel market and we see huge potential in the travel market, therefore we have strategized to invest over USD15 million and will deploy a workforce of over 800 staff over the 10 years, supported by our Hong Kong-based headquarter with the hope to grow with BIAL in the years to come. With a strong local alliance with TCS and oneDirect, we are confident that we will be able to take BLR’s passengers service to the next level with data-driven decision-making, advanced technology and very importantly, the PPG team’s love and passion for quality customer service.” shares Song-Hoi-see, Founder & CEO of Plaza Premium Group.

 

Plaza Premium Group has vast experience in the India market in the past decade, delivering airport hospitality services including lounges, transit hotels and meet and greet services across key airports including Indira Gandhi International Airport (DEL), Rajiv Gandhi International Airport (HYD), Chandigarh International Airport (IXC) and Visakhapatnam Airport (VTZ). The Group will also support in enable delightful journeys and experiences of BLR as the “Gateway to a New India”, across its global sales & distribution network leveraging on its presence in over 70 international airports from China, Southeast Asia, the Middle East and the Americas.

About Bangalore International Airport Limited

Bangalore International Airport Limited (BIAL) is a public limited company – formed under The Companies Act – to build, own and operate the Greenfield Kempegowda International Airport, Bengaluru (BLR Airport) for a 60-year concession period. BLR Airport is the first Greenfield airport in India to be built as a private-public partnership. Private promoters hold 74% (Fairfax 54% and Siemens Projects Ventures 20%) stake in BIAL, while the government holds the remaining 26% (Karnataka State Industrial & Infrastructure Development Corporation Limited – 13%, Airport Authority of India – 13%).

The Airport began operations in May 2008 and plays a key role in driving the economy of the region – offering connectivity to key destinations in India and across the globe. It is currently the busiest airport in South India and the third in the Country, having welcomed 33.65 million passengers in CY 2019.

BLR Airport was recognised as the Best Regional Airport in India & Central Asia at the 2020 SKYTRAX World Airport Awards, for the fifth time in 11 years. It’s the only Airport in the World to win the ACI-ASQ awards for three consecutive years. For more information log on to www.bengaluruairport.com.

About Plaza Premium Group

With a mission to Make Travel Better, Plaza Premium Group is the pioneer and industry leader in innovating global airport hospitality services and facilities in over 250 locations of more than 70 international airports across the world. Established in 1998 and headquartered in Hong Kong, the group comprises four core business segments – airport lounges Plaza Premium First and Plaza Premium Lounge; airport terminal hotels Aerotel; airport meet & greet services ALLWAYS and a range of Airport Dining concepts. The Group has also developed Smart Traveller, a mobile-app based global airport membership programme that is designed for air travellers, offering uniquely-curated perks, benefits and rewards experience through points earning and redemption. In addition to its own brands, Plaza Premium Group provides airport hospitality solutions to leading airlines, alliances and corporates around the world, including but not limited to Cathay Pacific Airways, Singapore Airlines, China Southern Airlines, Virgin Atlantic, Air France, Star Alliance, SkyTeam, American Express, Capital One and many more.

The Group has won more than 60 accolades in the last five years, including “World’s Best Independent Airport Lounge” for four consecutive years from 2016 to 2019 at the Skytrax World Airline Awards, the global benchmark of aviation excellence, and “Best Airport Lounge Operator” for 2018 & 2019 by TTG Asia magazine. In 2020, the Group has successfully been awarded ISO 9001:2015 for Hong Kong Headquarters, proving the quality management in providing airport lounge services. In addition, the group’s Founder and CEO Mr. Song Hoi-see was named Ernst & Young Entrepreneur of The Year and Master Entrepreneur of The Year 2018 Malaysia. Plaza Premium Group currently employs over 5,000 staff and serves more than 20 million global passengers annually. By continuously innovating and striving to surpass travellers’ expectations of airport experiences, the group is growing exponentially across major international airports globally.

To learn more: www.plazapremiumgroup.com

Connect with us: LinkedIn @plazapremiumgroup, Twitter @PPG_worldleader and WeChat @PlazaPremiumGroup

#PlazaPremiumGroup

Sunlight Real Estate Investment Trust (“Sunlight REIT”) Final Results for the Year Ended 30 June 2021

Advancing Sustainability

HONG KONG SAR – Media OutReach – 7 September 2021 – Henderson Sunlight Asset Management Limited (the “Manager“) announces the final results of Sunlight REIT for the year ended 30 June 2021 (the “Year“).

 

While the global economy staged a strong recovery in the first half of 2021 as a result of extraordinary monetary and fiscal stimulus packages launched to relieve the ravages of COVID-19, protracted travelling and social distancing restrictions continued to take their tolls on the commercial real estate sector. Accordingly, net property income (“NPI“) of Sunlight REIT for the Year registered a decline of 6.6% to HK$639.7 million, while annual distributable income was down 6.1% from the preceding year to HK$438.3 million.

 

The Board has resolved to declare a final distribution of HK 13.1 cents per unit. Together with an interim distribution of HK 12.5 cents per unit, the total distribution per unit for the Year would amount to HK 25.6 cents, implying a payout ratio of 97.5% (FY2019/20: 95.2%).

 

The appraised value of Sunlight REIT’s property portfolio was HK$18,341.7 million at 30 June 2021, representing a decrease of 3.0% compared with a year ago. Consequently, its net asset value dropped 4.4% to HK$14,124.3 million, or HK$8.45 per unit.

 

Operating Highlights

 

The entire portfolio of Sunlight REIT recorded an average occupancy rate of 93.7% at 30 June 2021 (30 June 2020: 95.7%). Occupancy rate of the office portfolio was 92.4% (30 June 2020: 95.6%), while the corresponding figure of the retail portfolio was 96.5% (30 June 2020: 95.8%). Average passing rent of the office portfolio was HK$36.7 per sq. ft. at 30 June 2021, up 0.5% from a year ago, while that of the retail portfolio was HK$70.4 per sq. ft., down 5.9% year on year. Average negative rental reversion of the portfolio for the Year was 6.2%.

 

Amidst a challenging operating environment, the Manager is delighted to announce the addition of Dah Sing Bank, Limited as a major tenant of (the renamed) Dah Sing Financial Centre during the Year, which contributed to the 7.8% improvement in passing rent despite a decline in NPI of 9.9%. Meanwhile, NPI of Strand 50 increased by 9.8%, reflecting the property being successfully transformed into an appealing modern workplace in the core of the Sheung Wan district. On the retail front, the performance of Sheung Shui Centre Shopping Arcade was hampered by social distancing restrictions and border controls, causing an 11.8% decrease in its NPI. Gratifyingly, Metro City Phase I Property continued to demonstrate its resilience as a community shopping mall mostly catered to non-discretionary consumption, recording a mild retreat in NPI of 3.8%.

During the Year, Sunlight REIT made initial foray into sustainable finance and medium term notes, successfully raising a total of over HK$1,800 million. This demonstrates the credit quality of Sunlight REIT and its firm commitment to sustainability.

Mr. Wu Shiu Kee, Keith, Chief Executive Officer of the Manager said, “We are cautious but hopeful about the prospects for the macro environment ahead. Both the office and retail markets appear to have seen the bottom, although the extent of recovery critically depends on the pace at which COVID-19 recedes and the effectiveness of the measures implemented by various governments to restore economic vigour. Despite a transitory setback in income performance, the fundamentals of Sunlight REIT remain sturdy.  With a firm foundation established over the course of 15 years, it is well-positioned to ride out the storm and to prudently expand its business, assuring unitholders with a sustainable growth in distributions over the long term.”

 

Remarks: Attached financial highlights of FY2020/21 Final Results of Sunlight REIT.

                 

Financial Highlights of FY2020/21 Final Results:

(in HK$’ million, unless otherwise specified)

 

2021

2020

Change

                                           (%)

For the year ended 30 June:

Revenue

799.3

854.6

(6.5)

Net property income

639.7

684.7

(6.6)

Loss after taxation

(233.7)

(751.4)

           68.9

Annual distributable income

438.3

467.0

(6.1)

Distribution per unit (HK cents)

25.6

26.8

(4.5)

Payout ratio (%)

97.5

95.2

                N/A

 

At 30 June:

Portfolio valuation

18,341.7

   18,918.0

(3.0)

Net asset value

14,124.3

 14,771.2

(4.4)

Net asset value per unit (HK$)

8.45

 8.89

(4.9)

Gearing ratio (%)

23.0

21.6

                    N/A

Disclaimer: The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Sunlight REIT in Hong Kong or any other jurisdiction. 

About Sunlight REIT

Sunlight REIT (Stock code: 435) is a real estate investment trust authorized by the Securities and Futures Commission, and constituted by the amended and restated trust deed dated 10 May 2021 (the “Trust Deed“), and has been listed on The Stock Exchange of Hong Kong Limited on 21 December 2006. Sunlight REIT offers investors the opportunity to invest in a diversified portfolio of 11 office and five retail properties in Hong Kong with a total gross rentable area of over 1.2 million sq. ft.. The office properties are primarily located in core business areas, including Wan Chai and Sheung Wan, as well as in decentralized business areas such as Mong Kok and North Point. The key retail properties are situated in regional transportation hubs and new towns including Sheung Shui, Tseung Kwan O and Yuen Long.

About the Manager

The Manager of Sunlight REIT is an indirect wholly-owned subsidiary of Henderson Land Development Company Limited. Its main responsibility is to manage Sunlight REIT and all of its assets in accordance with the Trust Deed in the sole interest of its unitholders.

#SunlightREIT

Make the Most of iShopChangi’s 9.9 Promotions and Best Priced Deals this September!

With two exclusive deals on offer at iShopChangi, there has never been a better time for you to go on a shopping spree. From today till the end of September, make the best of your online shopping experience with attractive prices on the latest electronic gadgets, jewellery and more!

SINGAPORE – Media OutReach – 7 September 2021 – Snap up a brand new gadget or stock up your home bar with the incredible 9.9 promotion on iShopChangi. Together with the Best Priced Deals promotion for the month of September, now is the best time to go all out on a shopping spree!

 


Enjoy Up To 10% When You Check Out With ’99SPECIALS’

From 9 to 11 September, get up to 10% off on iShopChangi! With no minimum spend, simply apply the code ’99SPECIALS’ and receive a discount of up to $50. Whether it’s the latest electronics, luxury fashion or branded beauty products you’re after, now is the perfect time to seal the deal and take your order to the checkout!

 

Never Miss Out On The Best Priced Deals

If you’ve already exhausted your redemptions for the 9.9 promo, there’s more with iShopChangi’s Best Priced Deals this September! Enjoy attractive discounts on wine and spirits, food, beauty, electronics, and health and wellness products for a limited time only.

Till 30 September, get up to 30% off on select Moscatos, such as the T’Gallant Pink Moscato Non Vintage, Angas Premium Moscato and Bottego Il Vino Dell Amore. If gin’s your thing, check out Four Pillars for a host of discounted gins from Australia. Meanwhile, those with a hankering for sake can enjoy a tipple of Dassai Junmai Daiginjo 45, with premium bottles of 39 and 23 also available.

Beauty fanatics, fear not: there are fantastic deals for you, too! Till 19 September, get your hands on rejuvenating, beauty-enhancing, pick-me-up tonics by Kinohimitsu. At more than 50% off, you can snap up the Kinohimitsu Bird Nest with Red Dates and Wolfberries at just $35! Alternatively, order an IDS Skincare Skin Rebalance Set complete with C-Plus and Pore Formula before 15 September for just $210, reduced from $300 — a staggering $90 off.

While the 9.9 promo cannot be applied on products with Best Priced Deals, you can still take advantage of these promos by carting out separately!

 

Free Delivery Islandwide!

On all orders over $59, you can enjoy free delivery to Singaporean addresses direct from iShopChangi. These offers won’t last forever, so head on over to the checkout and see what you can take home while stocks last. For those hungry for more savings, explore the Changi Rewards programme, where you can access the exclusive privileges available to all to loyal customers. Sign up for free today and receive 10% off your first purchase! 

About iShopChangi

iShopChangi was launched in 2013 as an extension of Changi Airport’s promise to deliver greater comfort and convenience to travellers in its suite of airport retail offerings. Passengers can browse and purchase tax- and duty-free products across all terminals between 30 days to 12 hours pre-flight on the e-store – and choose to collect their items at Collection Centres within departure, upon arrival or have them delivered free in Singapore. Providing easy access to over 30,000 products across 900 brands and exclusives such as Changi First product launches, the site has since received global recognition with its award for Best Website – Retail Customer Facing at The Moodies: the Airport and Travel Retail Digital Media Awards 2018. In early 2020, the e-commerce store started to retail a selection tax- and duty-absorbed products to Singapore-based residents without the need to fly.

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Harnessing Technology to Manage Flood, Drought Risks in Lower Mekong Basin

Mekong River in Kratie, Cambodia (Photo - MRC)
Mekong River in Kratie, Cambodia (Photo: MRC)

The Lower Mekong region remains highly vulnerable to increased flood and drought.