CapitaLand conferred Top 10 ASEAN Enterprises Entering China Award by China-ASEAN Business Council
CapitaLand and Ascott Residence Trust Management Limited the only Singapore firms listed in the 2012 World Finance 100
Singapore, 24 January 2013 – CapitaLand Limited (CapitaLand) has been conferred the Top 10 ASEAN (Association of Southeast Asian Nations) Enterprises Entering China Award (Award) by the China-ASEAN Business Council (CABC). CABC consists of the China Council for the Promotion of International Trade; the ASEAN Chamber of Commerce and Industry; and the national business leaders, well-known enterprises and experts of members of ASEAN. The Award honours model ASEAN enterprises which have achieved business success and contributed positively to the local Chinese communities they operate in.
The award ceremony, graced by Mr Xu Ningning, Deputy Secretary General of China-ASEAN Business Council, was held at the JW Marriott Hotel Beijing this evening.
The judging panel for the Award comprised the ASEAN Secretariat; the 10 ASEAN member countries’ embassies in China; Chinese embassies in the 10 ASEAN countries; as well as other Chinese authorities in consultation with the China Council for the Promotion of International Trade. Candidates for the Award were assessed in four key areas – investment volume (trade volume) in China; rate of development in China; contribution to the economic development of the local community; and philanthropic efforts. All candidates were objectively and fairly appraised on their business performance and contribution to China.
Mr Jason Leow, CEO of CapitaLand China, who received the Award, said: “CapitaLand is honoured to be recognised as one of the Top 10 ASEAN Enterprises Entering China. As one of the first foreign real estate companies to enter China 19 years ago, we have benefitted greatly from its rapid growth. At the same time, we are also privileged to have been able to contribute towards its urbanisation. Our presence in China is boosted by strong China-ASEAN ties and our friendship with municipal governments and real estate developers in China.”
He added: “It has been over 20 years since China and ASEAN established dialogue relations. As the largest real estate developer in Southeast Asia, we are pleased to leverage our domain knowledge in real estate to further strengthen China-ASEAN exchanges and contribute towards regional cultural exchange and business collaboration.”
In January 2012, CapitaLand, together with CapitaMalls Asia Limited and Singbridge Holdings Pte. Ltd., sealed the deal with the Chongqing government to invest RMB 21.1 billion (S$4.2 billion) in the city’s biggest development project in a decade and the largest single investment made by any Singapore firm in China. Designed by renowned architect Moshe Safdie, Raffles City Chongqing will comprise a shopping mall and towers for residential, office, serviced residence and hotel use, with total floor area of about 1 million square metres. Besides Raffles City Chongqing, there are seven other Raffles Cities developments in CapitaLand China’s portfolio. Together, the eight Raffles Cities will be worth S$12 billion when completed.
At the end of September 2012, CapitaLand had a portfolio of assets worth over S$13 billion in China, comprising over 120 projects in more than 40 cities across the country, in key gateway cities such as Beijing, Shanghai and Guangzhou as well as other Chinese cities including Chengdu, Chongqing, Hangzhou, Ningbo, Shenzhen and Wuhan.
Launched in 2005, CapitaLand Hope Foundation (CHF) has donated over S$17 million to aid underprivileged children in Singapore and overseas. CapitaLand’s philanthropic arm in China, CapitaLand Hope Foundation (China), was established in November 2011 to coordinate programmes to support the shelter, education and healthcare needs of underprivileged children in China. Since 2004, CapitaLand has donated funds to build 23 Hope Schools in China to provide a conducive learning environment for underprivileged children in rural communities. CHF’s philanthropic efforts in China include organising Hand in Hand 20.10 where 2,010 underprivileged children were invited to visit The World Expo 2010 in Shanghai; supporting CapitaMalls Asia’s My Schoolbag programme where nearly 19,000 children were presented with new schoolbags and stationery; and implementing the CapitaKids programme to provide long-term financial support for promising CapitaLand Hope School students beyond their primary school education.
CapitaLand believes in promoting an understanding of the cultures between Singapore and overseas communities. For example, it is the Presenting Sponsor and Conservation Donor of the Giant Panda Collaborative Programme. The 10-year programme is symbolic of the close relationship between Singapore and China, and also serves as an excellent platform to enhance cultural exchange and understanding between the two countries. As China is one of CapitaLand’s core markets, its conservation donation is testament to CapitaLand’s long-term commitment to China.
Separately, for its commitment to business excellence, CapitaLand has been listed in the 2012 World Finance 100 for the first time. Ascott Residence Trust Management Limited, the manager of Ascott Residence Trust and an indirect wholly-owned subsidiary of CapitaLand, has also been listed. In Singapore, only CapitaLand and Ascott Residence Trust Management Limited made it to the listing. The annual World Finance 100 recognises the best global performers on a wide range of criteria including profitability, sustainability, social responsibility, market share, perceived client satisfaction and attitudes to shifting market parameters.