GuocoLand Limited

by | May 9, 2022

GuocoLand Limited

GuocoLand Limited Review

Corporate Profile of GuocoLand Limited

GuocoLand Limited (“GuocoLand”), a major regional property firm with activities in the geographical markets of Singapore, China, and Malaysia, has been listed on the Singapore Exchange Securities Trading Limited since 1978. GuocoLand acknowledged its development outside Asia in 2017 by forming a strategic collaboration with Eco World Development Group Berhad in Eco World International Berhad to enter new markets in the United Kingdom and Australia.

GuocoLand and its subsidiaries (“the Group”), based in Singapore, are primarily engaged in property development, property investment, hotel operations, and property management, with a focus on attaining scalability, sustainability, and growth in its key markets. Residential, hotel, commercial, retail, and integrated projects make up the Group’s portfolio, which spans the area. The Group’s total assets were roughly $11.3 billion as of December 31, 2021.

The Group has completed 36 residential projects in Singapore, totaling roughly 11,000 units and residences. Guoco Tower, GuocoLand’s flagship mixed-use building, combines premium Grade A offices, a vibrant lifestyle and F&B retail area, elegant residences at Wallich Residence, the 5-star business hotel Sofitel Singapore City Centre, and a landscaped urban park. It has also amassed a sizable property portfolio that includes assets in Beijing, Shanghai, Nanjing, and Tianjin. GuocoLand (Malaysia) Berhad (listed on Bursa Malaysia), the Group’s 68 percent-owned subsidiary, is a well-established property developer of community-centric residential townships as well as innovative commercial and integrated development projects in Malaysia.

A Multi-Award-Winning Programmer

GuocoLand has received several honors and accolades both domestically and globally in appreciation of its high-quality development portfolio and dedication to business excellence. The Building and Construction Authority (BCA) Green Mark Awards and Leadership in Energy and Environmental Design (LEED) Pre-Certification are examples of environmental sustainability awards, as are real estate awards honoring the best property companies, such as the International Property Awards, FIABCI Property Awards, BCI Asia Awards, and South East Asia Property Awards.

Governance of Corporations

To guarantee the Company’s long-term success, GuocoLand Limited (the “Company”) is dedicated to maintaining high standards of corporate governance as well as a robust and healthy corporate culture. The Company remained on the SGX Fast Track programme list for the financial year ended 30 June 2021 (“FY2021”), which was launched by the Singapore Exchange Regulation to recognize the efforts and achievements of listed issuers who have upheld high corporate governance standards and maintained a good compliance track record. In the Singapore Governance and Transparency Index 2020, the Company was placed 21st out of 577 businesses listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”).

The Company followed the principles and regulations of the Code of Corporate Governance 2018 (“Code 2018”) as outlined in this report during FY2021. The Company’s own Code of Corporate Governance (“Company Code”), which includes the terms of reference for the Board of Directors and its Committees, is compliant with Code 2018.

Expansion into Real Estate

The Group began developing and investing in real estate in the late 1990s. The Group’s primary business is presently property development, property investment, property management, and property-related operations.

The Group was a pioneer in Singapore’s production of 99-year leasehold condos, which were largely aimed towards local HDB upgraders. Since then, the Group has constructed and sold 34 residential complexes in Singapore, totaling over 9,000 houses, establishing itself as a key developer in Singapore’s private residential property market.

A New Persona

The firm changed its name to GuocoLand Limited on November 18, 2002, to better represent its concentration as a property developer. Its parent firm, Guoco Group Limited, a public corporation listed on The Stock Exchange of Hong Kong Limited, has likewise changed its name.

GuocoLand is now one of the biggest property businesses listed on the Singapore Exchange Securities Trading Limited’s Main Board. The Group has total equity of $4.4 billion and total assets of $11.3 billion as of June 30, 2021. The Group’s revenue for the 12 months ending 30 June 2021 was $843.7 million.

Overseas Activities are activities that take place outside of the United States.

Apart from Singapore, the Group has been investing in China’s real estate market since 1994, with interests in Beijing, Shanghai, Nanjing, and Tianjin.

The Group entered the Malaysian real estate market in 2004 when it bought a majority position in GuocoLand (Malaysia) Berhad, a significant Malaysian property developer listed on the Bursa Malaysia Securities Berhad.

GuocoLand also made an investment in Ho Chi Minh City, Vietnam, in September 2006, when it was granted an Investment Licence to create a fully integrated development on a 17.5-hectare property in Binh Duong Province. It is located 17 kilometers north of Ho Chi Minh City.

GuocoLand reached a critical milestone in its growth outside Asia in April 2017, when it formed a strategic collaboration with Eco World Development Group Berhad in Eco World International Berhad to penetrate new markets in the United Kingdom and Australia. GuocoLand gained instant access to four development projects now under construction in London and Sydney, with significantly reduced project risks.

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