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| Proposed Acquisitions Expected to Strengthen the Group's Financial Performance |
Singapore, Mar 7, 2022 - (JCN Newswire) - SGX mainboard-listed company, The Place Holdings Limited ("The Place Hldg"; SGX: E27), is pleased to announce that it has entered into a non-binding MOU to acquire a 51% stake in two entities which hold the IP Rights of design patent and certain trademarks that are related to property landmark, THE PLACE, in Beijing as well as certain assets and businesses relating to the iconic attraction, Shimao Tianjie Sky Screen, in Beijing.
Highlights:
* The first acquisition relates to the Intellectual Property Rights ("IP Rights") of design patent and certain trademarks that are used for the operations and management of the Sky Screen and real estate properties associated with the property landmark, THE PLACE ("THE PLACE"), in Beijing
* The recurring royalty income of the IP Rights are derived from the operation and management of the Shimao Tianjie Sky Screen and the usage of IP Rights in relation to the real estate properties associated with THE PLACE mall
* The second acquisition relates to the acquisition of certain assets and businesses relating to the Shimao Tianjie Sky Screen that are expected to generate operating revenue
* Shimao Tianjie Sky Screen ("Shimao Tianjie Sky Screen") is one of the largest sky screens in Asia, comprising 7,500 sqm of LED lights that is located next to THE PLACE
* Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen continues to be a popular venue and platform for various events, advertisements and media
* Both the IP Rights and Shimao Tianjie Sky Screen are income-generative businesses and they are expected to strengthen the financial performance of the Group
* There are also various opportunities to leverage on the IP Rights and technological features of Shimao Tianjie Sky Screen to develop new business propositions related to the digital economy (such as gamification, NFTs, Metaverse) and create new revenue streams
More information on THE PLACE and Shimao Tianjie Sky Screen can be accessed at www.theplacebeijing.com.
After the completion of the Proposed Acquisitions, the Group is expected to receive recurring royalty income from the licensing of the IP Rights for the use in the operation and management of Shimao Tianjie Sky Screen and the real estate properties associated with THE PLACE, which is a mixed-use development built in 2006, comprising two top-tier office buildings and a high-end shopping retail mall, located at No. 9 Guanghua Road, Chaoyang District, Beijing, the heart of Beijing's Central Business District (CBD). In addition, the Group will also generate operating revenue from the operation of the Shimao Tianjie Sky Screen.
Shimao Tianjie Sky Screen is one of the largest sky screens in Asia with 7,500 sqm of LED lights across a space of 250m long and 30m wide, offering a spectacular light show experience with high-resolution imagery and state-of-the-art, immersive sound systems as well as technological features that enable interactivity.
Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen has established a strong brand and continues to be a popular venue and platform for various events, advertisements and media.
Developed by Beijing Aozhong Xingye Real Estate Development Co., Ltd, THE PLACE and Shimao Tianjie Sky Screen have quickly become a property landmark and iconic attraction in Beijing since it was unveiled to the public in September 2007.
Both the IP Rights and Shimao Tianjie Sky Screen are income-generative businesses and the proposed acquisitions are expected to strengthen the Group's cash flow and financial performance.
With a scalable asset-light model that can be replicated across various countries, there are also various opportunities to utilise the IP Rights and technological features of Shimao Tianjie Sky Screen to potentially develop new business propositions related to the digital economy (such as gamification, NFTs, Metaverse) and create new revenue streams.
Mr Ji Zenghe, Executive Chairman of The Place Holdings, said, "With THE PLACE and Shimao Tianjie Sky Screen having been in operations for more than 15 years, the proposed acquisitions represent direct access to a well-known property landmark and iconic attraction that are both cash-flow generative and profitable.
The revenue streams from both acquisitions can strengthen our financial performance and enhance our business agility to pursue new growth initiatives. Based on the proven operating models of the underlying assets, the Group can adopt an asset- light business approach to pursue various collaborations and opportunities across various countries in Asia.
In addition, with evolving consumer behaviors in lifestyle and business activities, we believe that there are various opportunities to leverage on the IP Rights and technological features of Shimao Tianjie Sky Screen to push the boundaries of digital innovation and develop new business propositions related to the digital economy."
The Place Holdings Limited: [SGX: E27] [RIC: THEP.SI] [BB: THEPLACE:SP]
Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com
Topic: Press release summary
Source: The Place Holdings Limited
Sectors: Real Estate & REIT
https://www.acnnewswire.com
From the Asia Corporate News Network
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