A DELEGATION of more than 40 creatives and entrepreneurs from Singapore will meet their counterparts in Melaka to brainstorm ideas for ELEMENTX, the new &ldquo phygital&rdquo (physical and digital) retail development by Hatten Land.

 

Taking place from Jun 3 to 5 at Hatten Land&rsquo s invitation, the trip is led by Singapore-based not-for-profit arts and culture organisation Global Cultural Alliance (GCA) as part of its cross-cultural exchange programme, Urban Culture Asia, which has previously gone to Jakarta, Ipoh and Manila.

 

In the Urban Culture Asia: Melaka edition, participants from Singapore and Malaysia will take part in a &ldquo design-think sprint&rdquo session, brainstorming ideas for how to position the mall as a centre of attraction, and target customers.  

 

In a joint release with GCA on Wednesday (Jun 1), the Catalist-listed Malaysian developer said the exchange would let both sides leverage ELEMENTX &ldquo as a phygital platform for the co-creation of new business opportunities&rdquo .

 

The delegation of Singapore entrepreneurs comprises representatives from sectors such as education, e-sports and fashion. They will also have opportunities to explore Melaka and its culture with a guided tour on the first day and a traditional Malay love ballad performance, dondang sayang, after the &ldquo design-think-sprint&rdquo session.

 

The visit follows a series of Singapore-Melaka webinars curated by GCA the previous year, which Hatten Land&rsquo s managing director Colin Tan saw as a demonstration of synergy between both cities.

 

&ldquo Now that borders are opened, Hatten has the pleasure of welcoming entrepreneurs from Singapore to ELEMENTX to explore how further dialogue and collaboration between Singaporeans and their Melakan counterparts can spark off new ideas and trends which will enrich the peoples of both cities and countries,&rdquo said Tan. 

 

Phan Ming Yen, director of GCA, said the programme hopes &ldquo to facilitate fruitful discussions and encourage co-creation and collaboration among delegates from both countries&rdquo . 

 

&ldquo With the reopening of Singapore&rsquo s borders with Malaysia, we hope that Urban Culture Asia: Melaka will be able to provide a pathway for Singapore-based creatives and entrepreneurs and their counterparts in Melaka to bounce back from the impact of the pandemic,&rdquo he added.

 

 

 

 

 

 

 

 

 

HATTEN Edge, a subsidiary of Malaysian property developer Hatten Land, has donated 2 hectares of land in the metaverse to The Business Times Budding Artists Fund (BT BAF).

 

The donation marked the 17th anniversary of BT BAF, which aims to empower children and youth from financially disadvantaged backgrounds to pursue their dreams and fulfil their potential and passion in the arts. BT BAF is managed by TRCL, a not-for-profit arts charity with Institute of Public Character status.

 

Wong Wei Kong, chairman of BT BAF and editor of The Business Times, said the donation opens up another dimension for the fund to engage with its supporters and vice versa. 

 

&ldquo This is timely given how digital technology is now playing a central role in the way in which we communicate and reach out to one another,&rdquo he added. 

 

In the fundraising initiative by BT BAF, donors who make a donation of S$100 towards the fund will be acknowledged by a virtual tree in the metaverse. Donors will be able to &lsquo plant&rsquo the tree themselves in the metaverse, and make a dedication to the beneficiaries.

 

&ldquo This support from Hatten is all the more important given how we have observed that as society undergoes unexpected and rapid changes, the fund has continued to play a role in providing for the underserved especially more so during this period of the pandemic when the arts have provided positive distraction as well as served as an outlet for the underserved to cope with their circumstances while at the same also discover hitherto latent talent within themselves,&rdquo Wong said. 

 

Colin Tan, managing director of Hatten Land said the company is proud to work with TRCL to support those in need through the donation to BT BAF. 

 

&ldquo Their approach toward ensuring that the youth in Singapore are equipped with skills for the future is something that Hatten strongly advocates,&rdquo Tan noted. 

 

BT BAF was launched in 2005 and has reached out to more than 20,000 beneficiaries through activities and through its training centres, 10Square Youth and The Little Arts Academy. 

 

To make a donation, visit www.giving.sg/trcl/taking_root.

 

&bull The Group&rsquo s properties are located within the prime and strategic locations in Melaka and its retail malls are expected to benefit from the pent-up demand with the progressive re-opening of the economy and social activities in Melaka as well as the resurgence of tourism activities

 

&bull According to the latest valuations conducted during the pandemic, the Group&rsquo s properties are valued at approximately RM 680.35 million (excluding the development properties of GMSB).

 

&bull The Group&rsquo s net assets stood at RM 250 million on a RNAV basis as at 31 March 2022

 

&bull Testament to the Group&rsquo s continued efforts and commitment to implement its announced business strategy towards the growth trends of the digital economy, the Group has gained momentum in its digital ventures

 

&bull With the various digital and renewable initiatives announced by the Group, tapping on resources from established partners, there are opportunities for the Group to enter into new markets offering new business opportunities which would potentially provide additional and recurrent revenue streams and assist in continual growth of the Group

 

SINGAPORE, MELAKA, MALAYSIA, 13 May 2022 &ndash Hatten Land Limited (惠 胜 置 地 有 限 公 司 ) (&ldquo Hatten Land&rdquo , &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) is pleased to share key corporate updates for the 3rd quarter ended on 31 March 2022 (&ldquo 3Q2022&rdquo ).

 

Robust Demand Expected from its Portfolio of Prime Property Assets in Melaka

 

Located within the prime and strategic locations in Melaka, Malaysia, the Group&rsquo s properties current development portfolio comprises five integrated mixed-use development projects

and retail mall.

 

In April 2022, the Malacca government, through Tourism Melaka, has introduced the &lsquo Melaka For Malaysian 1.0&rsquo campaign to further revive the tourism sector and attract more tourists to the state with plans to organise 61 tourism events this year, of which 12 of them are major events. More recently, it was reported that the Melaka police expected a 50% increase from the average of 45,000 vehicles entering the state at three toll plazas ahead of the Aidilfitri celebration.

 

Dataran Pahlawan Melaka Megamall, located within 2km radius of most of the Group&rsquo s retail   malls, has seen an increased occupancy of over 87% since the reopening of land borders for fully vaccinated travelers between Singapore and Malaysia

 

Hence, the Group&rsquo s retail malls and other properties are expected to benefit from the pentup demand with the progressive re-opening of the economy and social activities in Melaka as well as the resurgence of tourism activities from Malaysia&rsquo s full reopening of international borders from 1 April 2022 for fully-vaccinated travelers.

 

Following its strategic review, a key element of the Group&rsquo s business strategy is to re-purpose its physical assets, in particular its malls, by identifying new uses, including but not limited to cosharing office spaces, talent innovation hub, education-related activities, cinema operations, blockchain and renewable energy activities.

 

Gaining Momentum in the Group&rsquo s Digital Ventures

 

Since its strategic pivot towards the digital economy in late 2021, the Group has commenced crypto mining operations in January 2022. In addition, the Group has gained momentum in partnering with established crypto mining operators, who are attracted by the Group&rsquo s largescale, high-quality mining facilities and collaborative business model.

 

Since April 2022, the Group has entered into a phase of expansion and aims to target new opportunities with existing and new business partners in the region. These partners will provide top-end bitcoin mining rigs and expertise whereas the group will provide our existing real estate resources in a scalable and collaborative business model as we foray into the

exciting world of blockchain and the possibilities that this technology will bring.

 

On 13 April 2022, the Group announced the rebranding of Element Mall to ELEMENT X, which will positioned as Southeast Asia&rsquo s first large-scale integrated Esports experiential hub,

 

Metaverse gateway and themed award-winning hotel accommodation. Accelerating its digital roadmap with Esports foray, the Group announced two separate collaborations with leading Esports organisations, with Kitamen Holdings Sdn. Bhd. (&ldquo KITAMEN&rdquo ) and MELAKA ESPORTS ASSOCIATION (&ldquo MEA&rdquo ) in Malaysia. There are plans for

MEA and KITAMEN to organise various Esports events and official Esports tournaments at ELEMENT X throughout the year.

 

In addition, the Group entered into a 10-year Collaboration Agreement with Focus Media Sports (Shanghai) Co., Ltd, a subsidiary of China&rsquo s largest commercial media group to build an Immersive Esports Hub that offers first-of-its-kind immersive, Esport and phygital intelligent sporting experience in Southeast Asia. As one of the anchor tenants at ELEMENT X that occupies more than 90,000 square feet of retail space, the Group is expected to generate long term rental income and operating income, such as entry ticket sales and other relevant income, from Immersive Esports Hub.

 

Barring unforeseen circumstances, the Group&rsquo s performance in the financial year ending 30 June 2022 is expected to benefit as a result of the above-mentioned initiatives.