Melbourne, Victoria – News Direct – 12 January 2023 –
Alderan Resources Ltd (ASX:AL8) managing director Scott Caithness joins Proactive’s Elisha Newell to introduce the company and outline its exploration plans in 2023. Alderan is out to discover, delineate and develop copper and gold deposits across Utah, with a special focus on its Detroit gold camp. The company has also inked an option agreement with Rio Tinto, setting it up to profile the Corbin Wickes Project in Montana for copper and molybdenum. Hashtag: #AlderanResources
The issuer is solely responsible for the content of this announcement.
The new office bolsters Calastone presence in Asia and provides additional local support for the funds industry in Taiwan
TAIPEI, TAIWAN – Media OutReach – 12 January 2023 – Calastone, the largest global funds network, announced the opening of its latest Asia Pacific office in Taiwan as the company extends the range of services for clients in the market. The latest expansion, together with Calastone offices in Singapore and Hong Kong, further strengthens its commitment and supports the future growth in the Asia Pacific region.
Serving clients in Taiwan since 2009, Calastone provides automated cross-border fund processing to over 80% of fund distributors in the market. Investors can also gain access to the largest range of funds in Taiwan via the firm’s collaboration with the Taiwan Depository & Clearing Corporation (TDCC), leveraging Calastone’s global network. Taiwan’s fund industry has grown steadily over the years, reaching US$177 billion in 2021 and is widely regarded as a model for digitalising fund processing.
The new office affirms Calastone’s position as the longest and leading service provider of fund processing and reporting services in Taiwan and strengthens their ability to support and enable further adoption of automation in the industry.
“Taiwan was our first key Asian market as we entered the APAC region in 2009. We are proud to have been a committed member and participant in the transformation Taiwan’s funds industry has gone through, which made the market a model for modernisation of the sector. Taiwan continues to be an important market and we see a lot of potential and opportunities to further support the industry as it continues its digital journey. We are excited to announce the opening of our office in Taipei and look forward to extending our services to our existing and prospective customers while drawing on our global expertise in helping clients operate in a fully automated, globally connected and frictionless digital environment,” said Justin Christopher, Managing Director, Head of Asia at Calastone.
Calastone’s industry-leading solutions have supported every step of the fund transaction lifecycle, benefitting the industry and its participants with enhanced operational efficiency and reduced risks across the entire process chain. Through further investment in latest technologies, including distributed ledger technology and cloud, Calastone is continuing to support clients in Taiwan and the wider APAC region to move towards an accelerated, fully digital future.
The issuer is solely responsible for the content of this announcement.
About Calastone
Calastone is the largest global funds network, connecting the world’s leading financial organisations.
Our mission is to help the funds industry transform by creating innovative new ways to automate and digitalise the global investment funds marketplace, reducing frictional costs and lowering operational risk to the benefit of all. Through this, we make investing more accessible, generating the opportunity for the industry to deliver greater value for the investor.
Over 3,500 clients in 54 countries and territories benefit from Calastone’s services, processing £250 billion of investment value each month.
Calastone is headquartered in London and has offices in Luxembourg, Hong Kong, Taipei, Singapore, New York, Milan, and Sydney.
HONG KONG SAR and BOSTON – Media OutReach – 12 January 2023 –EcoCeres, Inc. (“EcoCeres” or the “Company”), an innovative biorefinery company with leading R&D capabilities, announced that it has received a significant equity investment from the leading global investor Bain Capital Private Equity (“Bain Capital”). The transaction follows Series A investment in EcoCeres from Kerogen Capital in February 2022.
EcoCeres is an Asia-based advanced biorefinery platform with industrial-scale production capacity that converts waste-based biomass into a wide spectrum of biofuels, biochemicals and biomaterials. The Company is one of the few players in the world to produce commercialized HVO (Hydro-treated Vegetable Oil), SAF (Sustainable Aviation Fuel), and cellulosic ethanol. It has a dedicated R&D team with strong chemical engineering backgrounds, and commercially available combined capacity of 300,000 tons per annum of HVO and SAF in operation. Through the implementation of core proprietary technologies, EcoCeres is building up distinct bio-refining capabilities to deliver decarbonization solutions.
Philip Siu, Co-founder and CEO of EcoCeres, said, “Our partnership with a blue-chip investor like Bain Capital is yet another strong vote of confidence in our leadership in the critically important decarbonization sector. It is my heartfelt belief that both Bain Capital and Kerogen Capital have made their wise decisions to invest in EcoCeres – the innovative advanced bio-refinery platform. A good start means half success, I look forward to a strongly bonded and long-term win-win partnership to serve our common goal for a better and sustainable future.”
EcoCeres will benefit from Bain Capital’s deep industry experience and resources to further scale up international business in the global markets and advance renewable energy technologies, among other growth initiatives.
Alan Chan, Chief Investment Officer of Hong Kong & China Gas Limited (Towngas), which incubated EcoCeres and remains as a strategic shareholder in the Company, noted, “Having a world-class investor such as Bain Capital on the board will accelerate the growth trajectory of EcoCeres, especially with international expansion, by leveraging Bain Capital’s global platform and resources.”
Jonathan Zhu, a Partner and Co-Head of Bain Capital Private Equity in Asia, said, “We are highly impressed with the Company’s R&D capabilities, enabling the utilization of 100% waste-based feedstocks and the generation of significant carbon savings. We see an enormous opportunity for the Company to help clients to achieve decarbonization targets and ultimately become a key contributor in reducing greenhouse gas emissions globally. We look forward to joining hands with EcoCeres and other shareholders to bring the business to its full potential.”
James Tam, a Partner of Bain Capital Private Equity in Asia, noted, “This investment is testimony to Bain Capital’s commitment to sustainable growth and reducing climate impact. We embrace EcoCeres’ vision to build a global leader in decarbonization solutions much needed by the world to attain carbon neutrality, and believe we will form a productive partnership with EcoCeres and Towngas to achieve this goal.”
Hashtag: #EcoCeres
The issuer is solely responsible for the content of this announcement.
About EcoCeres, Inc.
EcoCeres has a strategic focus on the conversion of waste‐based biomass into a wide spectrum of biofuels, biochemicals and biomaterials. The Company is one of the few players in the world currently utilizing its own proprietary technologies to produce hydro‐treated vegetable oil (HVO) at scale to help markets in the European Union fulfil their greenhouse gas reduction targets mandated under the Renewable Energy Directive framework. EcoCeres has also successfully produced sustainable aviation fuel (SAF) and received ISCC CORSIA plus to supply global aviation industry. The Company is also expecting to produce cellulosic ethanol from agricultural waste. Achievement of these milestones will cement EcoCeres as a first mover in the industry, with the capability to decarbonize the full spectrum of transportation fuels across diesel, jet fuel and gasoline.
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media, and telecommunications. Bain Capital has 23 offices on four continents. The firm has made primary or add-on investments in more than 1,100 companies since its inception. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital, and real estate, managing approximately $160 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.
HONG KONG SAR – Media OutReach – 11 January 2023 – Henderson Sunlight Asset Management Limited (the “Manager”), as manager of Sunlight Real Estate Investment Trust (“Sunlight REIT”), is pleased to announce that a special purpose vehicle wholly-owned and controlled by Sunlight REIT entered into a sale and purchase agreement with an independent third party to acquire West 9 Zone Kids for a consideration of HK$748 million, representing a discount of approximately 11.9% to the valuation of HK$849 million as appraised by Knight Frank Petty Limited, the independent property valuer.
About West 9 Zone Kids
West 9 Zone Kids is the commercial development of “Florient Rise” located at No. 38 Cherry Street, Tai Kok Tsui, Kowloon, Hong Kong. It comprises a 3-storey shopping arcade with eight external wall advertising spaces and 17 commercial carparking spaces, with a gross rentable area of approximately 58,836 sq. ft..
Strategic location with defensive trade mix
Completed in 2008, West 9 Zone Kids is a well positioned retail property with direct covered footbridge linkage to the Olympic station of the Mass Transit Railway, and is strategically located within a strong catchment area in the West Kowloon district surrounded by both office buildings and high quality private residential developments. With a relatively defensive trade mix focusing on service trades, notably education and eateries, West 9 Zone Kids recorded an occupancy rate of 90.7% at 31 December 2022, with a monthly rental income and car park income of approximately HK$2.9 million.
Complementary benefits to Sunlight REIT’s retail portfolio
The acquisition is consistent with the investment objective of Sunlight REIT of acquiring quality commercial property assets to strengthen its existing portfolio. Further, the Manager believes that the acquisition will improve the geographic footprint of Sunlight REIT’s portfolio, initiate its presence in a key residential hub of Kowloon while providing complementary benefits to its retail portfolio.
Financial effect of the acquisition
Had the acquisition been completed on 30 June 2022, it is estimated that the gearing ratio of Sunlight REIT at 30 June 2022 would have increased from approximately 23.3% to approximately 25.7%, while its net asset value per unit of HK$8.36 at 30 June 2022 would have been largely unchanged. Accordingly, the acquisition is not expected to have any material adverse impact on the financial position of Sunlight REIT as compared to that at 30 June 2022 (as disclosed in the 2021/22 annual report of Sunlight REIT).
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.
National Gallery Singapore stages Singapore’s largest retrospective on the artist in a public museum, spotlighting key periods of his groundbreaking artistic practice across 70 years
SINGAPORE – Media OutReach – 11 January 2023 – A pioneering figure in modern Chinese ink practices around the world; an artist who went beyond conventional painting techniques to push boundaries in textures and materials. Liu Kuo-sung is a world-renowned modern ink master who reconstructed traditions with modernity to create unique ink paintings and transformed the art practice.
Installation view, Liu Kuo-sung: Experimentation as Method. National Gallery Singapore 2022. Image credit: Joseph Nair, Memphis West Pictures
Liu Kuo-sung: Experimentation as Method is Singapore’s largest exhibition in a public museum dedicated to the artist. The show, whichopens on 13 January, is a retrospective spanningseven decades of Liu’s artistic career, spotlighting his trailblazing experimentation and sophisticated integration of traditional Chinese and Western art philosophies,which resulted in significant contributions to modern Chinese ink.
Liu Kuo-sung (b. 1932) is lauded for his contributions to the global development of modern and contemporary ink art. Through his career, the 91-year-old artist has devoted his energies to exploring and advocating for the modernisation of Chinese painting. He was a key founding member of the Fifth Moon Group – a group of artists which initiated a modern art movement in Taiwan between the 1950s and 1970s – and exemplified his modern approaches through his own ink practice and art writings by boldly abandoning Chinese painting conventions.
Liu Kuo-sung at Liu Kuo-sung: Experimentation as Method, National Gallery Singapore 2022. Image credit: Joseph Nair, Memphis West Pictures
His spirit of experimentation extends beyond just brush painting techniques – he explored the use of materials to create textural effects in his paintings for enhanced visual impact. This led to the development of a new material – Liu Kuo-sung Paper. His leading role in the modernisation of the art form elevated Liu onto the global stage, where he extensively exhibited across the world in Asia, Europe and America.
Liu Kuo-sung: Experimentation as Method presents over 60 breathtaking ink works and 150 archival materials from Liu’s personal collection, which trace his breakthrough artistic practice across seven decades. This exhibition features works generously donated to the Gallery from Liu, with future additional donations being explored.
Liu’s donation expands and elevates the Gallery’s collection of ink paintings, which includes works by Singaporean ink artists, as well as Chinese ink master Wu Guanzhong. Through this collection, the Gallery has continuously made efforts to deepen the art historical understanding of ink art, as the perspectives of Singapore and Southeast Asia provide a uniquely rich vantage point to examine the regional and global transformation of the ink practice. The Gallery’s spotlight and research on Liu Kuo-sung’s innovations in ink will further the mission to examine the lesser known narratives from the global history of modern ink, advancing the museum’s position as a leading institution for modern ink art in the region.
Dr Eugene Tan, Director, National Gallery Singapore, says, “Liu’s groundbreaking approaches through his painting techniques and use of materials advance new perspectives on the traditional medium. His works showcase the exceptional results of his innovative artistic spirit. National Gallery Singapore is honoured to receive the generous donation of artworks from Liu Kuo-sung and recognition for the Gallery’s efforts in growing awareness and appreciation of Chinese ink. We believe that the depth and breadth of our collections of Chinese ink will appeal to a global audience and support our intention to create dialogue between the art of Singapore, Southeast Asia and the world.”
Lin-Hwei Lee from The Liu Kuo-sung Foundation says, “Over the years, we have seen National Gallery Singapore’s reputable efforts to raise awareness and foster deeper appreciation for Chinese ink. We hope that this donation enables the Gallery to further expand its exhibitions and programmes on Chinese ink to showcase the diversity and beauty of Chinese ink practice for its visitors.”
Experimentation as a method to traditional Chinese ink practice: Exhibition highlights The exhibition traces notable and distinct periods in his career with a selection of artworks and archival materials, providing visitors with an extended reading of his art that places his works in broader historical contexts and highlight the relevance and significance of his innovations.
Installation view, Liu Kuo-sung: Experimentation as Method. National Gallery Singapore 2022. Image credit: Joseph Nair, Memphis West Pictures
In the early phases of his artistic career in the 1960s, Liu already began making innovations in ink. Focusing on the use of materials, he invented his own paper, aptly named Liu Kuo-sung Paper, a coarse textured thick cotton paper with fibres “glued” to the surface of the paper. After applying ink, the fibres are removed to create a special effect of white lines and textures in the painting. Visitors will have the opportunity to see the texture of this paper and the applications of it in the first exhibition section, Dance of Ink.
Liu also often contemplated marrying brushwork with other art concepts inspired by Western practices. For example, he reinvented the concept of abstraction in the practice of Chinese ink. His propensity to push the frontiers of Chinese ink created a new visual language which reflected nature’s spirit and vitality while echoing the aesthetic forms of classical Chinese landscape paintings.
During the 1960s, Liu had the opportunity to travel to the United States. The 60s also coincided with the buzz of the 1969 Apollo 11 moon landing. This significant global event was captured in one of Liu’s important collage pieces, titled Moon Walk (1969) which he created by attaching an image torn out from LIFE magazine and blended it into his unique ink painting style.
He also encountered practices such as pop art and hard-edge painting, an approach to abstract painting characterised by areas of flat colour with sharp or hard edges. This influenced him to use bright and bold colours in his works. He created an intriguing visual contrast and resonance, contrasting expressive strokes with varied and rich textures of ink and paper in the composition. In the section titled Which is Earth?,view howLiu extended the natural imagery of Chinese landscape painting to the eternal and infinite cosmic landscape of the universe.
In the 2000s, Liu revisited the cosmic views that were first captured in his works from the 1960s, which were inspired by iconic Earth photographs captured by the Apollo 8 space mission, and anchored by celestial bodies hung above landscapes of the Earth. Coming (2014), which measures over three metres long, captures the movement of celestial objects across time and space.
In 1972, Liu became the Chairman of the Department of Fine Arts at the Chinese University of Hong Kong, thus shifting his energies and efforts to art education. At the University, he established a modern ink curriculum which expounded his belief in the application of experimentations, challenging the conventional teaching methods of learning by copying from old masters.
Throughout his career, Liu never ceased to apply this same philosophy to his own practice, refining and redefining Chinese ink through his innovative use of materials and polishing of his techniques, such as water rubbing, paper rubbing, paper tearing and steeped-ink painting – present in the artworks displayed in Searching for Paradise. Despite this desire to expand the practice of the medium, his inspiration from nature remained consistent.
From the 1980s onwards, Liu travelled extensively through China. The works in the last exhibition section Lying Down on Water, Mountains Rising and Falling takes inspiration from the lakes of Jiuzhaigou and the snow-capped mountains of Tibet. He created several series of large, captivating landscape paintings throughout the 2000s.
Installation view, Liu Kuo-sung: Experimentation as Method. National Gallery Singapore 2022. Image credit: Joseph Nair, Memphis West Pictures
In these large-scale series, Liu continued to experiment with the use of materials, such as architecture paper, as seen in the artwork In the Midst of a Beautiful Spring (2008). The less absorbent material enabled Liu to push the boundaries of his steeped-ink technique. The culmination of the novel art-making techniques that Liu developed and refined over time, coupled with his return to a semi-abstract approach to Chinese ink are fervently showcased through these evocative masterpieces created in the later part of his career.
Exhibition tours, activities and dining
Visitors can look forward to docent-led tours, activities for the family and children to learn more about ink paintings, a multi-programme response to the exhibition by Siong Leng Musical Association as well as a special dish at The Great Mischief inspired by one of Liu Kuo-sung’s artworks. Talks and panel discussions will also engage audiences in the artistic practices of the master artist.
Liu Kuo-sung: Experimentation as Method will run from 13 January to 26 November 2023 at National Gallery Singapore, Level 4 Gallery and Wu Guanzhong Gallery.
General Admission (free for Singapore Citizens and Permanent Residents) applies.
Hashtag: #ChineseInkArt
The issuer is solely responsible for the content of this announcement.
About National Gallery Singapore
National Gallery Singapore is a leading visual arts institution which oversees the world’s largest public collection of Singapore and Southeast Asian modern art. Situated at the birthplace of modern Singapore, in the heart of the Civic District, the Gallery is housed in two national monuments – City Hall and former Supreme Court – that have been beautifully restored and transformed into this exciting 64,000 square metre venue. Reflecting Singapore’s unique heritage and geographical location, the Gallery aims to be a progressive museum that creates dialogues between the art of Singapore, Southeast Asia and the world to foster and inspire a creative and inclusive society. This is reflected in our collaborative research, education, long-term and special exhibitions, and innovative programming. The Gallery also works with international museums such as Centre Pompidou, Musée d’Orsay, Tate Britain, National Museum of Modern Art, Tokyo (MOMAT) and National Museum of Modern and Contemporary Art, Korea (MMCA), to jointly present Southeast Asian art in the global context, positioning Singapore as a key node in the global visual arts scene.
In 2020, the Gallery was the only museum in Southeast Asia that received a ranking in The Art Newspaper’s annual global survey of attendance at art museums, taking 20th place. It was the first museum in Asia to receive the Children in Museums Award by the European Museum Academy and Hands On! International Association of Children in Museums in 2018. The Gallery also won the awards for “Best Theme Attraction” at TTG Travel Awards 2017, “Best Attraction Experience”, “Breakthrough Contribution to Tourism” and “Best Customer Service (Attractions)” at the prestigious Singapore Tourism Awards in 2016 for its role in adding to the vibrancy of Singapore’s tourism landscape.
New economy assets such as prime industrial parks, logistics facilities and medical centres remain attractive
The overall Greater Bay Area (GBA) primary residential market sales performance dropped noticeably in 2022. Secondary market home prices remained under pressure, although primary home prices in some cities were lifted due to a focus on high-end projects. Recovery is expected in the GBA housing market along with the mainland-Hong Kong border reopening.
Total GBA CRE investment volume recorded RMB64.9 billion in 2022, taking an approximately 29% share of the large-size deals (>RMB 100 million) in China, with Shenzhen surpassing Beijing as the second-highest ranked city by investment volume.
Investment interest in new economy assets such as industrial and logistics facilities and data centres has picked up noticeably, with the rise of China’s Real Estate Investment Trusts (C-REITs) also propelling greater investment appetite for industrial parks, biomedical facilities, and logistics assets.
HONG KONG SAR and BOSTON – Media OutReach – 11 January 2023 –Global real estate services firm Cushman & Wakefield today published its Greater Bay Area Residential and Investment Market 2022 Review and 2023 Outlook. The GBA’s residential market slowed noticeably in 2022 in the wake of the pandemic, with overall transaction numbers and secondary home prices both dropping. In contrast, transactions in the CRE market held up well. The relaxation of quarantine measures in the mainland, coupled with the border reopening, should bring greater positivity to overall market sentiment in 2023, and support a pick-up in transactions in both residential and CRE investment markets.
GBA Residential Sales Volume and Price
Impacted by the pandemic and dampened economic growth, GBA residential transactions dropped noticeably in 2022, with primary market sales recorded at around 400,000 units, down by approximately 35% y-o-y (Chart 1). Among the city markets, Zhuhai, one of the most popular locations for Hong Kong buyers, saw the most notable drop, partially due to the travel restrictions that have slowed potential purchases from across the border.
Alva To, Cushman & Wakefield’s Vice President, Greater China & Head of Consulting, Greater China said, “Despite the overall slowdown of GBA residential transactions in 2022, the central government has recently relaxed national pandemic policies and border restrictions with Hong Kong, which will likely help drive residential purchases in 2023. Initially, Hong Kong buyers may go over the border to finalize their previously on-hold transactions, which may not trigger an immediate V-shape recovery, yet we believe market momentum will pick up towards 2H 2023, with transaction volume expected to rise by 20-25% in 2023.”
As for residential prices, first-hand market home values picked up in some GBA cities as most purchases were concentrated on high-end properties, despite limited transaction activities. However, in terms of secondary market homes, prices have fallen by more than 5% from the 2021 peak, even in leading cities such as Shenzhen, according to Cushman & Wakefield research data (Chart 2). Looking into 2023, residential prices are expected to regain stability as price corrections should further narrow amid the relaxation of pandemic rules.
GBA CRE Investment Transaction Number and Value
Despite the impact of the pandemic, CRE investment in the GBA was relatively active in 2022, with more large-sized deals (>RMB 100 million) taking place in 2H 2022, bringing the full year record to RMB64.9 billion. This volume accounted for around 29% of the nation’s total transactions, the highest proportion since 2018 (Chart 3). Shenzhen and Guangzhou were most active among all GBA cities, with Shenzhen recording 40 CRE investment deals totalling RMB44.2 billion in 2022, surpassing Beijing and becoming the second-highest ranked city by CRE investment consideration in mainland China. Meanwhile, Guangzhou also recorded 19 deals, totalling RMB19.9 billion.
By Transaction Value and Capital Source
The full-year of 2022 recorded 24 CRE investment transactions at over RMB1 billion, accounting for approximately 40% by market share in the GBA, significantly higher than that in 2020 and 2021. The balance of 37 transactions were at less than RMB1 billion (Chart 4). As for the investor origin, transaction volume by domestic investors jumped by more than 50% y-o-y to reach RMB55.9 billion, accounting for an 86% share of the market. This reflects the fact that local capital has been largely supporting market activity, with some deals also involving receivership transactions. In contrast, foreign capital was relatively muted, accounting for merely 14% of the market. We believe the foreign investment market share in 2023 could potentially rebound to around 35% and return to the 2021 level, as the mainland fully opens up to the rest of the world.
GBA CRE Investment by Asset Types
Office and R&D office properties remain the most popular sector and dominated the GBA investment market in 2022, accounting for more than half of the total CRE investment volume in the year.Charli Chan, Cushman & Wakefield’s Executive Director, Capital Markets, China shared, “Office assets in the GBA are still sought after by the market, although in 2022 buyers largely acquired for self-use purposes, accounting for 70% of office transactions. With the relaxation of the mainland’s border and pandemic policies, traditional sectors such as office and retail are expected to pick up in 2H 2023. In addition, investment in new economy assets, such as industrial parks, logistics, and data centres, also grew in 2022 to reach RMB15.4 billion, accounting for 24% of the total volume.”
Charli Chan concluded, “Since June 2021, the central government has been actively promoting the development of C-REITs, aiming to stimulate foreign investment while providing real estate firms with more financing channels. The market has recorded at least 13 deals related to C-REITs in 2022. The rapid development of C-REITs, coupled with policy support, has prompted interest in industrial parks, biomedical facilities, logistics, and rental apartments. We expect these property types to stay attractive in 2023, bringing a more fruitful year for transactions, while real estate funds are expected to renew their activity levels.”
Photo caption: Charli Chan, Cushman & Wakefield’s Executive Director, Capital Markets, China (Left) and Alva To, Cushman & Wakefield’s Vice President, Greater China & Head of Consulting, Greater China shared Greater Bay Area Residential and Investment Market 2022 Review and 2023 Outlook in today’s press conference.
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. Across Greater China, 23 offices are servicing the local market. The company won four of the top awards in the Euromoney Survey 2017, 2018 and 2020 in the categories of Overall, Agency Letting/Sales, Valuation and Research in China. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, valuation, and other services. To learn more, visit www.cushmanwakefield.com.hk or follow us on LinkedIn ( https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
Foreign tourists in Vietnam (photo: vietnaminsider)
Vietnam Prime Minister Mr. Pham Minh Chinh directed relevant authorities on Monday to revise the country’s current visa policy to facilitate the entry of international tourists and simplify administrative processes for granting e-visas.
The Digital Note, backed by a deed of undertaking by Straits Developments, allows for investors to gain up to 10% additional interest at redemption
As risk-free rates rise, investment providers in the market are bringing more innovative investment products to compete for investor dollars in the market.
One such new innovation is being brought to the market by Straits Trading through SDAX – a tokenised corporate bond that is backed by real estate which allows for additional special interest earned at maturity.
SINGAPORE – Media Outreach – 11 January 2023 – SDAX, a regulated investment and trading platform providing multi asset securities and fund units, has listed a tokenised note from Straits Trading GG Pte Ltd (STGG) in its exchange. The Digital Note functions as a note, with a deed of undertaking by Straits Developments Pte Ltd, provides an option for investors to earn stable interest income, while being able to participate in the appreciation of the underlying real estate asset – a freehold Gallop Green townhouse at Woollerton Park.
The investment deal with Straits Trading Company, a conglomerate-investment company incorporated since 1887 with diversified international operations and financial interests, is its first tokenised real estate-linked tradeable asset that utilises the blockchain for listing on SDAX’s exchange. The successful listing highlights the strategic partnership that Straits Trading Company has with SDAX as a supportive shareholder, and showcases an investment offering fractionalised real assets for investors.
The Digital Note offers investors the opportunity to invest in a note with property-like returns at a fraction of the cost. Investors will receive 3% annual interest payment and up to 10% special interest at redemption of the note which is subject to the sale price of the underlying property or valuation of the property. The previous instance when Straits Trading made available fractionalised real estate to investors was in May 2022 through its Straits Trading Shareholders’ Club where investments were in the minimum of S$200,000 to S$500,000.
“Fractional assets present a great opportunity for more investors to be involved in the various investment options that we have. As we look for strategic opportunities for new growth engines in digital assets, we are glad to be working with a technology platform like SDAX and bring more unique investment opportunities to a wider base of investors,” said Eric Teng, Chief Executive Officer of Straits Developments Pte Ltd.
SDAX works with companies and institutions to list investment deals in a fast, secure and cost-effective way through blockchain technology, in the process making these private market real estate investment opportunities accessible to investors via digital securities, in fractionalised amounts. Licensed by the Monetary Authority of Singapore, SDAX focuses on institutional-grade real estate, corporate finance and ESG (Environmental, Social and Governance) investments. SDAX is backed by strategic shareholders such as ESR (APAC’s largest real asset manager), PSA International – a Temasek Company, Straits Trading and RHT Group.
“In the current inflationary environment, people should be looking for ways to make idle funds in the bank more productive. Through our curation process, we collaborated with STC to bring this unique Digital Note that allows for interest income and participation in capital gains from real estate to more investors. With technology opening up more investment options, investors are getting better access to opportunities that generate more returns at the same or lower risk level. The Digital Note with STGG signals a start of more of such investments to come,” said Raymond Poh, Chief Executive Officer of SDAX.
SDAX’s exchange provides secondary market liquidity and enables its investors to participate in trading their digital securities. The blockchain allows for an immutable ledger in which the ownership of the assets is recorded and transferable efficiently on the exchange. The exchange will provide a channel for investors in this deal to trade their digital securities should they wish to exit the investment earlier than maturity – opening up possibilities for investors and providing price discovery for the issuer.
Raymond adds, “We continue to forge ahead with our institutional partners, strategic shareholders and the wider ecosystem to bring more of these curated opportunities for our investors.” Hashtag: #realestate #tokenisation #investment
The issuer is solely responsible for the content of this announcement.
SDAX
SDAX is a MAS-regulated investment and trading platform serving institutional, accredited and retail investors. We provide access to uniquely curated assets that were once only available to institutions or ultra-high net worth individuals, through asset tokenisation. Our strength lies in real estate, corporate finance and ESG opportunities. SDAX partners with corporate and institutions to raise capital more efficiently to support their growth and expansion.
SDAX represents the merged entities of digital asset exchange Digiassets Exchange Singapore (SDAX) and fintech company Minterest Holdings. The merger and rebranding bring synergy for SDAX by combining capabilities to offer a Digital Asset Exchange.
Incorporated in 1887, The Straits Trading Company Limited is a conglomerate-investment company with operations and financial interests in resources, property, and hospitality. These include strategic stakes in one of the world’s leading tin producer, Malaysia Smelting Corporation Berhad, which is dual listed on Bursa Malaysia and the Singapore Exchange Securities Trading Limited, ESR Group Limited and Far East Hospitality Holdings as well as a diversified property portfolio that is wholly owned by the Group.