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Sunlight Real Estate Investment Trust (“Sunlight REIT”) Interim Results for the Six Months Ended 31 December 2022

By
Laotian Times
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HONG KONG SAR – Media OutReach – 15 February 2023 – Henderson Sunlight Asset Management Limited (the “Manager“) announces the interim results of Sunlight REIT for the six months ended 31 December 2022 (the “Reporting Period“).

For the Reporting Period, Sunlight REIT’s revenue was HK$388.5 million, down 3.9% year on year, mainly attributable to lower passing rents and occupancy rates registered at various properties. Net property income (“NPI“) declined 4.9% year on year to HK$307.6 million, implying a cost-to-income ratio of 20.8%.

Reflecting a higher interest rate regime, distributable income for the Reporting Period was HK$198.2 million, down 8.7% from the same period last year. The Board has resolved to declare an interim distribution per unit of HK 11.0 cents, representing a payout ratio of 93.7% and an annualized distribution yield of 6.5% based on the closing price of HK$3.37 on the last trading day of the Reporting Period.

The portfolio of Sunlight REIT was appraised at HK$17,649.3 million at 31 December 2022, representing a decrease of 2.5% from 30 June 2022. Meanwhile, net assets of Sunlight REIT was HK$13,598.8 million, which translates to a net asset value of HK$8.05 per unit.

Operating Highlights

The overall occupancy rate of Sunlight REIT’s portfolio at 31 December 2022 was 92.5% (30 June 2022: 94.7%). Office occupancy rate declined to 92.2% (30 June 2022: 94.8%), while the retail portfolio also recorded a decrease in occupancy rate to 93.1% (30 June 2022: 94.5%). For the Reporting Period, the office and retail portfolios registered negative rental reversions of 4.5% and 4.8% respectively.

Despite a still challenging operating environment, the performance of Dah Sing Financial Centre was relatively resilient, as demonstrated by a slight 0.9% year-on-year drop in NPI to HK$86.9 million. Meanwhile, NPI of Sheung Shui Centre Shopping Arcade and Metro City Phase I Property (“MCPI“) were down 4.9% and 8.2% to HK$66.4 million and HK$61.8 million respectively. In the case of MCPI, the sharper drop in NPI was partially attributable to the rental shortfall caused by the ongoing renovation project.

On 11 January 2023, the Manager announced Sunlight REIT’s acquisition of West 9 Zone Kids, a three-storey commercial development located in close proximity to the Olympic station with a gross rentable area of about 58,800 sq. ft, for a total consideration of HK$748 million (subject to adjustments). Completion of the transaction is expected to take place in April 2023.

Mr. Au Siu Kee, Alexander, Chairman of the Manager said, “The disruptive forces that have undermined global macro stability are likely to remain potent, while interest rates will stay at a higher level than previous years. Gratifyingly, the gradual relaxation of cross-border traffic controls in Hong Kong should prove a boon to the tourism industry, generating more momentum to a nascent economic recovery. We will closely monitor the evolving trend and strive to maintain a prudent and agile management strategy to optimize the performance of Sunlight REIT. Notably, the well-timed acquisition of West 9 Zone Kids indicates our intention to initiate a new chapter of asset recycling, with a view to enhancing the value and quality of the overall portfolio.”

Remarks: Attached financial highlights of FY2022/23 interim results of Sunlight REIT.

Financial Highlights of FY2022/23 Interim Results:
(in HK$’ million, unless otherwise specified)

Six months ended
31 December 2022 		Six months ended
31 December 2021 		Change
(%)
Revenue 388.5 404.3 (3.9)
Net property income 307.6 323.4 (4.9)
(Loss)/profit after taxation Note (274.4) 234.2 N/A
Distributable income 198.2 217.2 (8.7)
Distribution per unit (HK cents) 11.0 12.2 (9.8)
Payout ratio (%) 93.7 94.2 N/A
At 31 December 2022 At 30 June 2022 Change
(%)
Portfolio valuation 17,649.3 18,095.2 (2.5)
Net asset value 13,598.8 14,051.4 (3.2)
Net asset value per unit (HK$) 8.05 8.36 (3.7)
Gearing ratio (%) 23.9 23.3 N/A

Note: Included a fair value decrease of investment properties of HK$448.4 million (versus a fair value increase of HK$49.7 million for the six months ended 31 December 2021).

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.

Hashtag: #SunlightREIT

The issuer is solely responsible for the content of this announcement.

About Sunlight REIT

Listed on The Stock Exchange of Hong Kong Limited since 21 December 2006, 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“). It 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 located in both core and decentralized business areas, while the retail properties are situated in regional transportation hubs, new towns and urban areas with high population density.

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.

Hang Lung Properties Achieves WELL Health-Safety Rating at 19 Properties Across Hong Kong and Mainland China

By
Laotian Times
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Covering 80% of the Gross Floor Area of Hang Lung’s Completed Investment Properties

HONG KONG SAR – Media OutReach – 15 February 2023 – Hang Lung Properties (SEHK stock code: 00101) (the “Company” or “Hang Lung”) is proud to announce that it has achieved the WELL Health-Safety Rating (WELL HSR) from the International WELL Building Institute (IWBI) for 19 properties located in Hong Kong and eight cities in mainland China. The WELL HSR covers 80% of the total gross floor area of Hang Lung’s completed investment properties.

WELL HSR was created in response to the COVID-19 pandemic and consists of operational interventions that can be made to help mitigate its spread. As the world moves beyond the pandemic, the WELL HSR seal at Hang Lung’s properties remains a visible indication of confidence and trust that the Company has achieved third-party verification for evidence-based measures and best practices for health and safety.

Hang Lung received full scores in “Cleaning and Sanitization Procedures” and “Air and Water Quality Management” for all 19 properties amid the challenges of the pandemic, demonstrating its dedication to creating a healthy and safe environment for everyone who visits its properties.

In addition to the focus on customer wellbeing through the built environment, Hang Lung aims to sustain a healthy, inclusive and safe environment for its employees, customers and communities. Wellbeing is a broad concept that includes not only health and safety but also other positive attributes such as a sense of belonging, a sense of security, peace of mind, and feeling connected to the natural world. Achieving the WELL HSR also fulfils one of Hang Lung’s 25×25 Sustainability Targets. Hang Lung will continue its efforts to promote wellbeing in all aspects of its work.

Details of the 19 properties (malls/ office towers) that achieved the WELL HSR are as follows:

Property Mall Office Tower (OT)
Standard Chartered Bank Building, Hong Kong / OT
Plaza 66, Shanghai Mall OT1, OT2
Grand Gateway 66, Shanghai Mall OT
Center 66, Wuxi Mall OT1, OT2
Palace 66, Shenyang Mall /
Forum 66, Shenyang Mall OT
Parc 66, Jinan Mall /
Riverside 66, Tianjin Mall /
Olympia 66, Dalian Mall /
Spring City 66, Kunming Mall OT
Heartland 66, Wuhan Mall OT

Hashtag: #HangLungProperties

The issuer is solely responsible for the content of this announcement.

About Hang Lung Properties

Hang Lung Properties Limited (stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.

At Hang Lung Properties – We Do It Well.

For more information, please visit .

Arta TechFin and OSL’s partnership to create an end-to-end virtual asset financial service ecosystem

By
Laotian Times
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Hong Kong S.A.R – Media OutReach – 15 February 2023 – Arta TechFin (“ARTA”, HKSE: 0279), a hybrid fintech platform in both traditional assets and virtual assets (“VA”), and OSL, the digital asset business division of BC Technology Group (HKSE: 0863), today entered into a strategic partnership (“partnership”) to create an end-to-end VA financial service ecosystem.
Subject to obtaining required regulatory approvals, the partnership intends to offer a full spectrum of regulated VA solutions, including origination of asset-backed security tokens, secondary trading of physically-settled and cash-settled VA spot and VA derivatives, and custody of OTC and exchange- traded VA. Riding on the tailwind of the Hong Kong Government’s progressive VA policies, our joint effort will continue to support Hong Kong’s development as the global VA financial center.
For primary market origination, ARTA shall use its best effort to appoint OSL as the placing agent for its security token offering in Hong Kong. ARTA’s corporate finance team shall take the lead in tokenization technology service, deal sourcing and structuring, and fund raising. This activity is subject to regulatory approval.
For secondary trading, OSL shall be appointed as ARTA’s exclusive trading partner to conduct physically-settled VA trading activities for a period of 12 months. Where OSL engages in cash-settled VA derivatives trading, ARTA shall also provide OSL with cash-settled VA derivatives trading services including but not limited to Chicago Mercantile Exchange listed VA futures and options and Hong Kong Exchange listed VA future exchange traded derivatives.
OSL, through an omnibus account model, will support ARTA’s end-clients with institutional-grade performance VA trading and safe-keeping facilities.

Global Reach, Local Touch

ARTA and OSL, both headquartered in HK, are jointly developing ecosystems bring global VA access to institutional and retail clients. Investors can benefit from the full protection of the Hong Kong regulatory regime, including client assets segregation, financial transparency, and stability. Regulated traditional financial and VA services are seamlessly integrated to create the next generation ecosystem for better liquidity, product variety, and security.
“This game-changing partnership gives birth to an institutional-class total VA solution that serves global institutional and individual clients. Hong Kong’s progressive VA policies lay a strong foundation for us to take advantage of this unique opportunity. We are committed to supporting the development of a vibrant VA ecosystem in Hong Kong,” said Eddie Lau, ARTA’s Chief Executive Officer.
“We are thrilled to enter into this strategic partnership with ARTA. We look forward to servicing the digital asset trading and fundraising needs of ARTA and its clients. This partnership will allow us to leverage our expertise in the digital asset space to drive growth in the fintech industry,” said Hugh Madden, Chief Executive Officer of BC Group and OSL.

Hashtag: #ArtaTechFin

The issuer is solely responsible for the content of this announcement.

About Arta TechFin Corporation Limited

Arta TechFin is a hybrid financial (HyFi) platform bridging traditional finance with blockchain-based financial system via technology innovations. Our regulated one-stop solution enables corporates, financial institutions, and family offices to access traditional assets and virtual assets.

ARTA, through its various subsidiaries, are licensed under Hong Kong Securities and Futures Commission. Other licenses include Hong Kong Stock Exchange participant, insurance brokerage license, trustee license and money lending license in Hong Kong as well as Eurex participant in Germany.

For further enquiries, please contact .

About OSL and BC Technology Group

Backed by Asia’s leading public fintech and digital asset company, BC Technology Group (863.HK), OSL is the world’s first insured and SFC-licensed digital asset platform. Founded in 2018, the company has a long history in the sector and is recognized by many as the leader in providing comprehensive regulated and licensed digital asset solutions.

We offer Markets services (brokerage, exchange, and custody) and SaaS technology solutions, which deliver institutional clients and professional investors access to the best-in-class virtual asset platform, as well as the world’s deepest liquidity pools. Our secure and insured hot and cold wallet infrastructure also ensures the safekeeping of digital assets with timely transaction settlements.

As the digital asset industry continues to evolve, so do we. Our simple and tailored approach compliantly navigates international clients through the evolving digital assets environment.

For more information, visit: osl.com and bc.group Press contact – OSL .

Jardine Engineering Corporation Commemorates 100th Anniversary with Noonday Gun Ceremony

By
Laotian Times
-
HONG KONG SAR – Media OutReach – 15 February 2023 – To celebrate the 100th anniversary of the establishment of Jardine Engineering Corporation (“JEC”), a kick-off ceremony of Noonday Gun firing was held at Causeway Bay, Hong Kong, on 15 February. The company’s Chief Executive Noky Wong and longest-serving employee, Mr. Kim Wai Pang have joined forces to officiate at the opening ceremony. Mr. Pang has worked in JEC for over 50 years in Maintenance and Renovation team.

Chief Executive Noky Wong remarks, ‘This is a proud moment for JEC. My heartfelt appreciation goes to our staff, customers, business partners and stakeholders for their unswerving support that enables JEC to grow along with Hong Kong over the past Century. Looking ahead, we will manifest upon our motto “Engineering a Century, Leading the Future” for another brilliant chapter.’

First founded in Shanghai in 1923, JEC has since called Hong Kong home with operations in Macau, The Philippines, Singapore, Thailand and Myanmar. The slogan of the centennial celebration is “Engineering a Century, Leading the Future”. Through a deep commitment to innovation and on-the-ground expertise, JEC strives to continue to explore new ventures and assist partners to achieve engineering breakthroughs in ever more efficient and sustainable ways.

Hashtag: #JEC #JEC100Anniversary #Engineering #sustainability #ESG #SmartEnergy

The issuer is solely responsible for the content of this announcement.

About Jardine Engineering Corporation

Jardine Engineering Corporation (JEC) is a leading provider of products and services that engineer a better Asia. The group provides products & sourcing, engineering contracting, and technical services for buildings, the energy and transport sectors, and environmental infrastructure.

JEC specialises in the provision of electrical, mechanical, and building technologies. The group provides contracting expertise to deliver large-scale installations and ongoing operation and maintenance services which help our customers to operate their facilities to a world-class standard.

Established in Shanghai in 1923, JEC is now headquartered in Hong Kong and operates throughout Asia. JEC is a member of the Jardine Matheson Group.

Company website:

Digital Protection Measures Welcomed in Laos and Other Asia-Pacific Nations

By
Jonathan Meadley
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Digital Protection Embraced in Laos and Other Asia-Pacific Nations
Data protected with a lock in the foreground, world map all connected in the background. ( Photo : boldonjames )

As concern for the distribution of customers’ data starts to rise, Laos amongst other nations in the Asia-Pacific region embraces data protection laws, clamping down on the spread of companies’ customer and manufacturing data beyond their borders.

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Like Korean Food? The Ultimate Food Festival Awaits You This Weekend!

By
Advertorial Desk
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Meet Korea Food Event in This Weekend

Have you ever been to the Korean food festival in Vientiane? Every year this Food Festival is organized, attracting many guests to taste and enjoy Korean products and dishes.

Continue

Gunung Raja Paksi rolls out new Net Zero Roadmap, targeting to be a Carbon Neutral Business by 2050

By
Laotian Times
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Alongside its Net Zero Roadmap, GRP places more emphasis on one of its five core pillars, Nurturing Talents, through the launch of its sport centre

JAKARTA, INDONESIA – Media OutReach – 15 February 2023 – PT Gunung Raja Paksi Tbk (GRP), a member of Gunung Steel Group and one of the largest private steelmakers in Indonesia, announced the launch of its Net Zero Roadmap today, which outlines its action plan for achieving carbon neutrality by 2050. In line with Indonesia’s Enhanced Nationally Determined Contribution (ENDC) to reduce its emissions by approximately 31.9% unconditionally and a net zero target of 2060 or sooner, GRP has taken steps to bolster their Environmental, Social and Governance (ESG) strategy and reduce primary sources of emissions from the use of grid electricity and fuel (natural gas and coal) combustion, via clean energy alternatives.

The steelmaker has set out a plan to engage stakeholders across the supply chain in minimising the environmental and social impact from steel. GRP has built its ESG strategy around five core pillars:

  • Responsible Procurement
  • Environmental and Social Compliance
  • Energy Transition and Low Carbon Solutions
  • Contributing to Responsible Environmental Management
  • Nurturing Talent

In accordance with these pillars, the Net Zero Roadmap outlines the GRP’s decarbonisation goals, which builds upon the Energy Transition and Low Carbon Solutions pillar, whereas the new sports centre builds on the themes of Nurturing Talent.

To date, steel production accounts for almost 8% of global carbon emissions and this figure is expected to rise, as the global appetite for steel consumption increases. Against this backdrop, government and industry leaders alike, are making commitments to reduce their carbon footprint and GRP is determined to support these national and global agendas.

Upon evaluating its emissions based on the Greenhouse Gas (GHG)Protocol and identifying its primary sources of emissions, GRP has identified 5 main pillars of emissions reduction measures and initiatives to achieve carbon neutrality:

  • Fuel Switching: transitioning from coal to cleaner sources of energy such as natural gas
  • Production improvements and resource efficiency improvements: Balancing between meeting current steel demand whilst decarbonising production processes
  • Green Power Sourcing: Sourcing green energy from the grid or producing it in-house
  • Carbon offsetting: Investing in carbon offset projects that benefit the environment
  • Collaboration and Partnership: Working with public and private sector stakeholders to implement solutions to reach Net Zero i.e. the Indonesian Iron & Steel Industry Association (IISIA) and participating in the Net Zero Hub by Indonesian Chamber of Commerce (KADIN).

GRP’s Net Zero roadmap also includes its disclosure for 2021 GHG Inventory, which is currently at 0.86 Tonne CO2/ Tonne of Crude Steel production. As an electric arc furnace (EAF) operated mill, GRP has the advantage in decarbonising its manufacturing plant compared to other global steel players who run by Blast Furnace Operated mills. This inventory data serves as a baseline for GRP’s decarbonisation journey.

“In the past year, we are hearing more conversations from the industry around decarbonisation and transitioning to cleaner energy sources. As much as there is increasing attention towards ESG, we believe that action speaks louder than words. Mapping out these actionable steps is the right way forward in our ESG strategy. With our Net Zero Roadmap, we are determined to shift the business towards a carbon neutral one and collaborate with stakeholders within our supply chain to achieve this mission,” said Sheren Omega, Head of Sustainability at GRP.

In addition, GRP also announced the launch of its new sports centre, which focuses on one of the five core pillars – Nurturing Talents. The World Steel Association showed that steel workers suffer long-term health effects such as cancers, respiratory diseases and stress related disorders as a result of prolonged exposure to hazards on the job. GRP believes that improving the mental and physical wellbeing of their employees is essential for them to excel at work. The new sport centre will provide employees an outlet to destress and recharge for work in light of building career longevity.

“Our employees are crucial assets to the company. Some of them have been with us for decades and it is only right that we as a company safeguard their wellbeing and provide them with a healthy working environment. We believe that initiatives like this sports centre will go a long way in setting our employees up for success at work,” said Tony Taniwan, Executive Committee at GRP.

Embarking into a new year, GRP is determined to support construction projects for eco-friendly infrastructure such as the building of the New Capital City (IKN), Solar Panel and Electric Vehicle Plants. The company also seeks to actively engage the government and industry leaders in identifying solutions to help the industry transition to a cleaner future.

GRP is currently a full member of the ResponsibleSteel™ and has certified products and operation sites which meets the pre-requisite 13 principles, and the 370 associate requirements, highlighted in the ResponsibleSteel™ International Standard V2.0.

Hashtag: #GunungRajaPaksi #NetZero #Sustainability #Steel #ResponsibleSteel #Decarbonisation #ESG


The issuer is solely responsible for the content of this announcement.

About Gunung Raja Paksi

PT Gunung Raja Paksi Tbk (GRP) is part of the Gunung Steel Group, which is one of Indonesia’s major private steel businesses. Our company began its operations in 1970 in Medan, North Sumatra, by producing hot steel, then progressed to manufacture steel beams and sheets.

With over 50 years of steel industry experience, GRP has a production capacity of 2,200,000 tons of high-quality steel annually approved by local and international certifying company.

Today, our company has become one of the largest private steel companies in Indonesia. Gunung Raja Paksi, “Shaping Tomorrow”. Together we develop a better future.

For more information, please visit:

Comba Telecom Unveils Helifeed™ Green Antenna to Support Operators Achieve Carbon Neutrality Targets Worldwide

By
Laotian Times
-
HONG KONG SAR – Media OutReach – 15 February 2023 – Comba Telecom Systems Holdings Limited (“Comba Telecom” or “the Group”, SEHK stock code: 2342 and SGX stock code: STC), a global leading wireless solutions provider, today unveiled its Green Base Station Antenna product series powered by the new and innovative Helifeed™ Platform, achieving leap-forward antenna energy efficiency, and optimizing antenna energy consumption. With green and low-carbon design concepts incorporated throughout the entire product life cycle, Comba Telecom offers forward-thinking Helifeed™ Green Antennas to support operators in achieving carbon neutrality targets worldwide.

The new Helifeed™ Platform laid a solid foundation by adopting multiple innovative technologies related to phase shifters and feeding network to create a path to a carbon-neutral radio network. On top of pursuing the design criteria for modern product architecture on compact size, lightweight, and reliability, the engineering team successfully made an energy efficiency breakthrough by reducing the insertion loss and improving the radiation characteristics of the antenna design. The platform also strikes technical gains in PIM handling with a design that enhances PIM stability. Comba Telecom has developed and implemented a holistic approach to facilitate a sustainable industry supply chain that covers the whole product life cycle stages, from green design, environmentally friendly and recyclable materials, pollution-free manufacturing process, to transportation and disposable packaging.

Featuring the industry-leading low-loss, high-efficiency, and low-carbon Green Antenna, the Helifeed™ Green Antenna product series can extend the mobile coverage or as a one-to-one replacement with the same mobile site coverage, to reduce the energy consumption and carbon footprint of the networks. By the end of 2022, over 50,000 pieces of the Heilifeed™ Green Antennas have been deployed by major APAC operators, and the new innovative technology platform has been verified in multiple tier-1 operators’ trial networks. The results are convincing in terms of creating additional antenna gains over traditional antennas to cut the site energy consumption effectively.

Ms. Annabel Huo, Executive Director, Senior Vice President of the Group and President of Comba Telecom International said, “With the mission to support net-zero goals, Comba Telecom will continue to work with global leading operators to build high-quality, high-efficient, green, and low-carbon new network infrastructure, speeding up the path to carbon-neutral Radio Access Networks, and driving the future of sustainable Green 5G networks. ”

Hashtag: #CombaTelecom

The issuer is solely responsible for the content of this announcement.

About Comba Telecom Systems Holdings Limited

Comba Telecom is a global leading wireless solutions provider with its own R&D facilities, manufacturing base, and sales and service teams. The Group offers a comprehensive suite of products and services including base station antennas and subsystems, wireless access, wireless enhancement, and wireless transmission to its global customers. Headquartered in Hong Kong, with advanced manufacturing and R&D capabilities, Comba Telecom provides wireless communication solutions and information application services to customers in more than 100 countries and regions around the world. The Group has been included in the Hang Seng Composite SmallCap Index and Hang Seng Composite Industry Index – Information Technology. In January 2023, Comba Telecom successfully listed on the Mainboard of the Singapore Exchange Securities Trading Limited by way of an introduction under the stock code “STC”. For further information, please visit: .

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