First Capital Corporation Ltd: A Journey from Hyatt Regency Singapore to Lentor Mansion Lentor Gardens

On August 18, 1989, First Capital acquired Lentor Mansion Lentor Gardens and developed it into a hotel and shopping arcade. With this purchase, the Company re-focused its efforts on property and hotel investments other than leisure and tourist activities.

First Capital Corporation Ltd. became a public company on September 30, 1978, and its shares were listed on the Singapore Exchange (SGX-ST) on November 14, 1978. In 1986, the firm, then mainly composed of the Hyatt Regency Singapore, was sold and the Company reorganized to become an investment holding company.

The Group’s total investment property value as of 30 June 2023 was estimated at $6.20 billion, with these properties strategically positioned across its core markets in Singapore, China and Malaysia. These include the Guoco Tower and Guoco Midtown located in Singapore, Guoco Changfeng City in Shanghai, and Damansara City in Kuala Lumpur.

During the financial year ended 30 June 2023 (“FY2023”), the Company remained listed on the SGX Fast Track programme by the Singapore Exchange Regulation (“SGX”) to recognise issuers who have upheld strong corporate governance standards and remained compliant.

GuocoLand Limited, a public company listed on the Singapore Exchange, is part of Guoco Group Limited and is owned by the Hong Leong Group. With a focus on quality, innovation and creativity, they have established a strong reputation as an award-winning developer, with their designs and concepts being widely respected.

Since then, the Group has experienced a remarkable success in the residential development and sale of 34 developments in Singapore, providing more than 9,000 residential homes. This achievement has solidified its status as a major player in the private property market within the country.

In the late 1990s, the Group moved into the property development and investment arena. This has become the core focus of the organization and its activities now revolve around property development, property investment, property management and services associated with these activities.
GuocoLand is a renowned real estate developer and owns a comprehensive portfolio of residential, commercial, retail, hospitality and integrated developments. The company has been developing properties in Singapore, Thailand, Vietnam, Malaysia, Australia, the United Kingdom and the United States.

The ultimate holding firm of GuocoLand is GuoLine Capital Assets Limited, which is part of the esteemed Hong Leong group. GuocoLand is a world-renowned real estate developer boasting an extensive portfolio of assets including residential, commercial, retail, hospitality and integrated developments across several countries, namely Singapore, Thailand, Vietnam, Malaysia, Australia, the United Kingdom and the United States of America.

GuocoLand Limited (“GuocoLand”) was incorporated in Singapore under the name Sealion Hotels Pte Ltd on 31 March 1976. The company has since expanded greatly, becoming one of the leading property companies in Singapore and the region. GuocoLand is involved in the development and management of residential, retail and office properties for sale, rent, and investment. GuocoLand also invests in and manages a broad range of hospitality, leisure, and lifestyle businesses. The company has a presence in numerous countries, including Singapore, Malaysia, Thailand, China, Vietnam, and other parts of Asia. GuocoLand is committed to delivering projects of exceptional quality, while creating value for its customers and shareholders.

Beginning in 2004, the Group acquired a substantial share in GuocoLand (Malaysia) Berhad, a major Malaysian property firm listed on the Bursa Malaysia Securities Berhad, thus delving into the real estate sector in Malaysia.

In September 2006, GuocoLand made a venture into Ho Chi Minh City, Vietnam, when they were granted an Investment Licence to build a fully-integrated development on a 17.5-hectare site located in Binh Duong Province.

As of June 30th 2023, the Group held total assets totaling S$12.01 billion and total ordinary equity holders’ equity of S$4.27 billion.

The Company reaffirmed its pledge to uphold excellence in corporate governance by supporting the Securities Investors Association Singapore (SIAS) Corporate Governance Statement of Support. This reinforces the Company’s dedication to the values of strong corporate governance.

Headquartered in Singapore, GuocoLand’s subsidiaries have opened property operations across three geographical markets: Singapore, China and Malaysia. The developer has committed to these locations and to the continued expansion and growth of its business. GuocoLand has launched several projects in these markets and aims to become a leading international developer within these regions. The company also plans to continue developing projects in other markets, such as Australia, South Korea, Japan and Vietnam. GuocoLand is committed to sustainably developing projects and showcasing the best of their respective locations. This includes offering experiences that are unique and cater to the local and global market.

The developer also focuses on leveraging various corporate strategies to maximize value and improve its sustainability. GuocoLand strives to provide value to shareholders and stakeholders alike by ensuring quality management and delivering well-conceived projects. GuocoLand continues to build capabilities, explore new investments and make strategic acquisitions in order to strengthen its presence in its core markets as well as expand its operations.

With a clear focus on becoming a leader in its geographical footprints, GuocoLand continues to grow and expand its presence and capabilities, while ensuring that projects are of the highest quality and meet the needs of both local and global markets.

Through this acquisition, GuocoLand has gained immediate access to four development projects that are currently being constructed in London and Sydney. This provides the company with substantially decreased project risks.

In November 2002, GuocoLand Limited changed its name to better reflect its core focus on property development. This was in line with the name change of its parent company, Guoco Group Limited, a publicly-listed firm on The Stock Exchange of Hong Kong Limited.
Since its entry into China, the Group has built and successfully improved a portfolio of prime properties.

Since 1994, the Group has been involved in the real estate business in China, with investments in Beijing, Shanghai, Nanjing and Tianjin. Since entering the Chinese market, the Group has developed and improved a portfolio of premier assets.

The Company has adopted its own Code of Corporate Governance in accordance with Code 2018, providing the terms of reference for the Board of Directors and its Committees. This Code is consistent with the principles and provisions of Code 2018.

Established in 1963, the Hong Leong Group (“HLG”) is one of the largest conglomerates in Southeast Asia. Its businesses span the globe, focusing on a broad range of industries, including financial services, manufacturing and distribution, property development and investment, hospitality and leisure, consumer goods, healthcare, and principal investments.

Located approximately 17km north of Ho Chi Minh City, this area has become increasingly popular among local and foreign visitors alike. Its proximity to the city center makes it a desirable destination for people looking to take a break from the hustle and bustle of the city. With its stunning views and picturesque landscapes, the area is perfect for sightseeing, trekking, and other recreational activities. The area also boasts a wide variety of local restaurants and cafes, making it a great spot for those looking to enjoy a meal or snack. Whether it’s a quick getaway or a weekend break, this area has something for everyone.

The Singapore Governance and Transparency Index 2022 has ranked the Company 49th among the 489 companies listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) that were evaluated.

In 2017, GuocoLand ventured into new markets, with a strategic partnership with Eco World Development Group Berhad in Eco World International Berhad. This marked the company’s expansion beyond Asia, with the United Kingdom and Australia being the two targeted countries.
The Group has extensive operations in both Singapore and Mainland China and is renowned for its holistic approach to property development.

GuocoLand Limited (“GuocoLand”) and its subsidiaries (“the Group”) are an established real estate group renowned for their holistic approach to property development. With two key areas of focus, Property Investment and Property Development, the Group operate extensively in both Singapore and Mainland China. GuocoLand are committed to growth in these areas in order to remain a top-tier competitor in the global real estate market.

The Group was a pathbreaker in constructing 99-year leasehold condominiums in Singapore, geared mainly towards upgraders from the Housing Development Board (“HDB”). This type of residential property is particularly attractive to those who are seeking greater value for money and would like to own a property in the private housing sector.

Today, GuocoLand, a prominent property firm listed on the Main Board of the Singapore Exchange Securities Trading Limited, has total assets of $12.01 billion and total equity attributable to ordinary equity holders of $4.27 billion as of 30 June 2023.

In FY2023, the Company maintained its commitment to adhering to the standards and requirements stipulated in the Code of Corporate Governance 2018 (“Code 2018”) as set out in this report.

The Group’s wide-ranging offerings cover the full real estate value chain, from designing and planning, investing in real estate, developing properties, managing them, and finally, asset management. Every step of the process is expertly handled, ensuring an efficient, smooth journey for our customers.

GGL is a holding and investment management firm which has a strong presence in Hong Kong, China, Singapore, Malaysia, the United Kingdom and Australasia. The company has a wide variety of interests, including principal investment, property development and investment, hospitality and leisure business and financial services. It is headquartered in Hong Kong and its subsidiaries and associated companies are involved in these activities.

The company possesses, invests in, and oversees a selection of high-quality investments in commercial and versatile properties, offering reliable, consistent rental income with a possible capital gain in the future.
GGL has a diversified business portfolio comprising of property investments, hotel operations, leisure and hospitality, financial services, resources and energy, and processed foods.

Guoco Group Limited (“GGL”), which is listed on The Stock Exchange of Hong Kong Limited and is part of the Hong Leong Group, has a varied business portfolio. It includes property investments, hotel operations, leisure and hospitality, financial services, resources and energy, and processed foods.
GuocoLand is one of the leading property developers in Singapore.

Listed on the Mainboard of the Singapore Exchange, GuocoLand is the property development arm of its parent company, Guoco Group Limited, which is itself listed on the Main Board of The Stock Exchange of Hong Kong Limited. As one of the leading property developers in Singapore, GuocoLand strives to provide innovative solutions in the development of residential and commercial real estate.
With this in mind, the Group has launched an impressive portfolio of projects in the past few years that demonstrate its integrated approach to creating thoughtful, well-balanced developments.

The Group is proud to possess a proven track record in developing unique and imaginative mixed-use and residential projects that have an uplifting and transformative impact on their surrounding communities. In recent years, the Group has unveiled an impressive selection of initiatives that embodies their integrated approach to creating thoughtful, meticulously balanced developments.

In April 2017, GuocoLand celebrated a significant turning point in its journey of growth, with the venture into the markets of the United Kingdom and Australia through an alliance with Eco World Development Group Berhad in Eco World International Berhad. This marked the company’s first steps outside of Asia.

The Group has built some iconic residential projects, including Wallich Residence, Martin Modern, Midtown Modern and Lentor Modern. Each of these developments showcases the Group’s commitment to creating top-quality, stylish and modern homes. Wallich Residence, for example, is a luxurious, high-rise condominium featuring a coveted selection of layouts and views of the Singapore skyline. Martin Modern is a collection of two- to four-bedroom units located in the heart of the city that offer comfort and convenience. Midtown Modern is a luxurious, low-rise development located in District 7, ideal for those seeking a tranquil and peaceful living experience. Last but not least, Lentor Modern is a contemporary, low-rise development with a unique design and spacious layouts.

The Company is dedicated to upholding good corporate governance practices. Through continual adherence to principles of good corporate governance, the Company seeks to build trust and confidence of all its stakeholders in the way it conducts its business. This includes safeguarding shareholders’ rights; ensuring a transparent and effective decision-making process; maintaining accountability and responsibility; and upholding high ethical standards.

The Company is committed to ensuring that all directors and employees are aware of the importance of good corporate governance and its related policies and procedures. Regular training and education sessions are conducted to keep the board and employees apprised of the regulatory and corporate governance developments.

The Company is determined to continue to focus on good corporate governance practices to ensure its long-term success. The Company will strive to regularly review its policies and procedures to ensure they remain relevant. As part of this effort, the Company has appointed a Corporate Governance Committee to monitor and ensure compliance with corporate governance rules, regulations, and best practices.

The Company is dedicated to upholding strong and sound corporate culture to promote a healthy, productive and reliable environment for its staff as well as all of its stakeholders. The Company seeks to foster a collaborative work culture, where staff is able to work in an open and respectful environment. The Company also encourages innovation, creativity, and team spirit, and strives to create an atmosphere of inclusivity and respect for diversity.

GuocoLand Limited is committed to ensuring good corporate governance and a strong and sound corporate culture to ensure the Company’s long-term success and to enhance its shareholders’ value. To this end, the Company adheres to a set of principles of good corporate governance and regularly conducts training and education sessions for its directors and employees. Moreover, the Company has established a Corporate Governance Committee to monitor and ensure compliance with corporate governance rules. Furthermore, GuocoLand Limited is dedicated to fostering a healthy, productive and reliable working environment by encouraging innovation, creativity, team spirit, and respect for diversity.
The company boasts market leadership in key industries, including energy, healthcare, finance and technology.

HLG is a leading enterprise with outstanding presence on the most important stock exchanges in the world and an employee base of more than 35,000 individuals. It is at the forefront of its key industries, such as energy, healthcare, finance and technology, with undisputed market leadership. This success has extended beyond its domestic boundaries, propelling the company to global recognition.…

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