SINGAPORE, Oct 7, 2021 - (ACN Newswire) - Hatten Land Limited (SGX: PH0) said today that subsidiary Hatten Technology (S) Pte Ltd has signed an agreement with Prakal Pte Ltd (EnjinStarter) to develop a dedicated token system and create digital assets, including non-fungible tokens (NFTs), to promote the development of a digital economy in Melaka where Hatten Group has substantial hospitality and retail assets. The Exclusive Framework Agreement is part of a strategic shift by SGX Catalist-listed Hatten Land, which is re-purposing its extensive mall footprint in Melaka and pivoting towards digital and blockchain activities as the pace of digitalisation in the world accelerates. EnjinStarter (Enginstarter.com) will develop a token strategy (tokenomics) that will allow tokens and NFTs to be exchanged or connected with the current loyalty point system of the Hatten Group as well as other participating hotels, attractions, malls and shops, starting with Melaka. EnjinStarter will also provide maintenance and support services for the Token System and Metaverse to be developed. This project with EnjinStarter will start mid-October 2021 with delivery of the Token System and the crypto-related elements and/or components connected to the Token System and Metaverse due by end- March 2022. The initial term of the Exclusive Framework Agreement is two years and can be automatically renewed every two years unless the Agreement is terminated. EnjinStarter has entered into an agreement with Enjin Pte Ltd (Enjin.io), that EnjinStarter is a Special Purposes Vehicle (SPV) set up to serve as a launchpad for the ecosystem development within the Enjin platform which powers many pioneering blockchain games, applications, and projects. Also a marketplace for NFTs, Enjin has over 20 million users spanning more than 250,000 gaming communities. Enjin has backed over US$1.14 billion blockchain assets, which collectively contain 12.5 million worth of ENJ coins. With substantial hospitality and tourism footprint in Melaka, Hatten Land and its parent company, the Hatten Group conglomerate, are the leading developers in this strategic historical city located along the Straits of Melaka that dates to the 15th century. The Group owns and operates retail malls with a combined built-up area of over six million square feet within Melaka, where it also owns or operates four hotels. Under the Agreement, both Hatten Technology and EnjinStarter will collaborate to develop a Metaverse, starting with a digital 'twin city' for Melaka - 'Digital Melaka' - which aims to promote physical and digital tourism in Melaka and accelerate the growth of the city's digital economy. Mirroring the physical world, Digital Melaka will feature the rich heritage, activities and key attractions in Melaka as well as Hatten Group properties in digital format. This will allow digital assets, including tokens and NFTs, to be created and monetised. In addition, EnjinStarter will establish its regional headquarters in Melaka, both physically and digitally, to jointly operate a virtual game development incubator, a blockchain gaming showcase and arcade. EnjinStarter will also cultivate and promote Melaka artistic activities such as partnering with local artists for NFT creations, marketing and sales within Digital Melaka. The EnjinStarter collaboration follows recent agreements signed by Hatten Land under which at least two parties will install and operate up to 3,000 cryptocurrency mining (cryptomining) rigs within its properties in Melaka. Hatten Land will leverage its existing infrastructure and lower energy costs in Malaysia. Such costs may be lowered further as Hatten Land installs solar panels on the rooftops of the malls to enable energy-efficient or 'green' cryptomining, accelerating its initiatives to create sustainable digital assets. Hatten Land's digital strategies include enabling tokens and NFTs as well as online-to-offline ('phygital') commerce and gaming. Digital assets that emerge from these initiatives can achieve tangible and tradable value over time as creative activities are enhanced and built around a dedicated blockchain platform. Dato' Colin Tan, Executive Chairman and Managing Director of Hatten Land, said: "The Digital Melaka project is intended to be a major catalyst for our strategic shift to become a hub for blockchain and digital initiatives as we re-purpose our existing mall footprint in Melaka. "We are partnering with EnjinStarter, which has a proven track record including a recent successful token listing. Together, we will build a dedicated Metaverse which will usher in a new era of blockchain, e-commerce and creative activities and where everyone can trade and live in." Mr. Prakash Somosundram, CEO and Co-founder of EnjinStarter, said: "We are really excited to partner Hatten Land. The Metaverse project brings a new dimension that allows us truly to explore 'phygital' opportunities. Hatten Land is a forward-looking partner that is also committed to assembling key stakeholders to work together and deliver this ground-breaking project. And beyond, sky's the limit. Together we are bringing Digital Melaka to the Metaverse and seeking to change the way people create, live, work and play." About Hatten Land Limited Hatten Land Limited is one of the leading property developers in Malaysia specialising in integrated residential, hotel and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a leading brand in Malaysia with core businesses in property development, property investment, hospitality, retail and education. For more information, please visit: www.hattenland.com.sg. Hatten Land Limited began trading on the SGX Catalist board on 28 February 2017 following a reverse takeover of VGO Corporation Limited. For share information, please see SGX: PH0; RIC: HATT:SI; Bloomberg: HATT:SP. Release: https://hattenland.listedcompany.com/newsroom/Press_release_-_EnjinStarter.pdf Issued on behalf of Hatten Land Limited by WeR1 Consultants Pte Ltd. Media & Investor Contacts:Mr Isaac TangMobile: +65 9178 0269Email: hatten@wer1.net
MELAKA, Mar 18, 2021 - (ACN Newswire via SEAPRWire.com) - Award-winning property company, Sheng Tai International Sdn Bhd (Sheng Tai International), continues to catalyse Malaysia's, particularly Melaka, economic growth by signing a landmark agreement with the world's largest global workspace provider, International Workplace Group plc (IWG) with brands including Regus and Spaces.The franchise agreement includes Sheng Tai International and IWG collaborating to open flexible workspace in Malaysia. With the agreement, Sheng Tai International becomes IWG's first partner since it opened up franchise opportunities in 2019 in the country.Sheng Tai International has invested approximately RM8 million to begin this partnership with three centres in the company's commercial properties in Melaka. The first centre, which will be developed under Regus, will open in Metrasquare, Melaka, by the end of the second quarter (Q2) 2021. While the second centre, under Spaces, will open at The Sail in 2025.Tuan Yang Terutama Tun Seri Setia Dr Hj Mohd Ali Bin Mohd Rustam, Yang di-Pertua Negeri Melaka, was present to witness the signing ceremony. Representing Sheng Tai International in the signing event and exchange of documents was Dato' Leong Sir Ley, Founder and Chairman of Sheng Tai International and Collin Tan, Director. While IWG was represented by Vijayakumar Tangarasan, Country Head for Malaysia, Indonesia and Brunei as well as Premita Dhaliwal, Head of Partnership Growth - Malaysia.Dato' Leong Sir Ley, Founder and Chairman of Sheng Tai International, said, "We are delighted to work with IWG to expand Malaysia's flexible workspace industry.""We believe this is the right time to invest in the flexible workspace industry in Malaysia, especially in Melaka, in line with the optimistic outlook post-COVID-19 for the state and country. The pandemic has provided Melaka as well as flexible workspace industry an additional edge.""More and more people and global brands are looking at strategic locations that are beyond the city centre. In addition, the pandemic has accelerated the growth of flexible workspace trends around the world.""With our unique establishments in Malaysia coupled with IWG's modern and world-class amenities, we are poised to appeal to discerning entrepreneurs, SMEs and multinational corporations, re-energising the economy in and around Melaka," added Dato' Leong."We also look forward to opening more flexible workspaces throughout Malaysia in the next five years."Gareth Haver, Regional Chief Executive Officer of IWG, said, "When we decided to open up franchising opportunities, we knew we needed strong partners, but more importantly, people who share our vision and values.""So we are thrilled to open a new chapter with Sheng Tai International. They have ambition and a solid track record that goes beyond the property. I believe their ability to draw global brands here during the pandemic is a testament to this," Premita Dhaliwal from IWG Malaysia added.Melaka Trade Square (Metrasquare) is a 6-acre commercial development comprising a residential component called the Metrasquare Serviced Suites, a three-star premium hotel called Hotel Metrasquare, a five-star hotel called Ames Hotel as well as retail lots, meeting and conference facilities, F&B amenities, as well as an upcoming Melaka historical gallery and art social space.Located just five minutes drive away from the Ayer Keroh toll off the North-South Expressway, Metrasquare is also close to the Melaka International Trade Centre (MITC), government offices, hypermarkets and a host of tourist attractions such as Melaka Zoo and Night Safari; Melaka Bird Park; Wonderland Theme Park; Melaka Planetarium, World's Bees Museum and Melaka International Trade Centre.Flexible workspaces are due to grow exponentially in Malaysia as companies of all sizes adopt progressive hybrid work patterns. Businesses have realised that a hybrid model not only means happier and more engaged employees, but also a significant saving for the bottom line. A study reported by EY shows that companies can save about $11,000 for each employee that works in a hybrid manner.Earlier this month, IWG announced a record start to 2021, adding half a million users to its network so far this year as well as penning its largest ever deal with NTT, Nippon Telegraph and Telephone Corporation. The deal will provide NTT's 300,000 employees across its portfolio of companies and global network with access to IWG's more than 3,500 workspaces globally.For more information about Regus in Melaka, kindly contact Sheng Tai International at +6011 3737 3399.About Sheng Tai International Sdn BhdSheng Tai International Sdn. Bhd., formerly known as Sheng Tai Realty Sdn Bhd., is a diversified property development, real estate, investment management and hospitality company with specialised expertise in the area of property tourism. The company was founded by Dato' Leong Sir Ley ("Dato SL Leong"), one of Malaysia's very first businesswomen who single-handedly venture out of the country by setting up a significant network of real estate investment platform overseas. The company offers various categories of quality investment grade products with professional services and a warm, humanistic attitude. We welcome productive collaboration and corporate partnerships with the focal point of providing our foreign and local guests with comprehensive solutions and tailored experience.Established in 2012 amid the storm of global economic turbulence, our continuing success owes to our ability to swim against the tide and see opportunity in every challenge. Our commitment to growth and quality excellence is an approach that has changed little since our emergence as a budding enterprise.Locally, Sheng Tai International Sdn. Bhd. is well known in the industry through its subsidiaries such as Plentifield Marketing Sdn. Bhd., and Sheng Tai Impression Sdn. Bhd. At the international front, our presence is currently marked through our overseas arm called Sheng Tai International (HK) Limited, which has been operating since 2012 and served as an important gateway to the Hong Kong and Chinese markets. The company also recently opened its China's flagship branch in Shanghai in September 2019; Tokyo in May 2020 and Beijing in October 2020. Today, Sheng Tai International is an award-winning developer who has branched out across various parts of Asia, offering an extensive range of real property products, services and brands that cater to the luxury, upscale, and economy markets.Sheng Tai International now has more than 500 personnel who are highly passionate and energetic, ensuring top quality services to our customers. The team is driven by strong corporate values that emphasise on integrity, professionalism and trustworthiness. Continuing our ethos of passionate expansion and conscientious innovation, Sheng Tai International aims to set a benchmark as the curator of contemporary living and the leading influence in inventive real estate business models. For more information about Sheng Tai International, please visit http://shengtaiinternational.com. About IWG PlcIWG is the world's largest provider of flexible workspaces and has remained at the forefront of enabling and providing flexible workspaces. It offers a wide variety of flexible office options around the world, including Regus, Spaces, HQ, and Signature. IWG helps millions of people and their businesses to work more productively by providing a choice of professional, inspiring and collaborative workspaces, communities and services. IWG operates in over 1,100 towns and cities in more than 120 countries. For more information about becoming an IWG franchise partner visit: https://franchise.iwgplc.comThis press release is issued on behalf of: Sheng Tai International Sdn BhdFor further enquiries, please contact:I-Mae LiewTel: +6012 383 5688 Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)