Singapore, Mar 31, 2022 – (ACN Newswire) – SGX mainboard-listed company, The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), is pleased to announce that it has entered into a non-binding Memorandum of Understanding ("MOU") with Stellar Lifestyle Pte. Ltd. ("Stellar Lifestyle"), a business arm of SMRT Corporation Ltd., to jointly collaborate to shape the future of digital media and tap new opportunities in the digital economy.
Creating vibrant transit destinations through continuous innovation and a desire to make our everyday touchpoints better, Stellar Lifestyle is the largest managing agent of retail and advertising spaces in Singapore's rail network.
Notably, both The Place Holdings and Stellar Lifestyle aim to build Singapore's first Sky Screen, a suspended video screen that will be an enhanced version of Beijing's iconic attraction, ("Shimao Tianjie Sky Screen").
As a high-tech visual extravaganza, the Sky Screen is envisaged as a new attraction in Singapore that will be integrated with smart digital technology system and immersive media, boosting new business vibrancy and creating new possibilities in digital media solutions.
Shimao Tianjie Sky Screen is located at No. 9 Guanghua Road, Chaoyang District, Beijing, the heart of Beijing's Central Business District (CBD) and it is one of the largest sky screens in Asia with 7,500 sqm of LED lights across a space of 250m long and 30m wide, offering a spectacular light show experience with high-resolution imagery and state-of-the-art, immersive sound systems as well as technological features that enable interactivity.
Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen has established a strong brand and continues to be a popular venue and platform for various events, advertisements and media.
The Group recently announced a separate MOU to undertake two acquisitions that includes the licensing of the Intellectual Property Rights for the use in the operation and management of Shimao Tianjie Sky Screen and the acquisition of certain assets and businesses relating to Shimao Tianjie Sky Screen. More information on Shimao Tianjie Sky Screen can be accessed at www.theplacebeijing.com.
Mr. Seah Moon Ming, Chairman of SMRT Corporation Ltd, said, "The Place Holdings has an impressive business track record of more than 30 years in developing market-leading media, tourism, and real estate businesses.
As a financial, aviation and technology hub, Singapore is one of the most connected countries in the world. It is a good springboard for The Place Holdings and Stellar Lifestyle to showcase the convergence of 5G, new technologies and media concepts to bring greater value to businesses and consumers.
This MOU signifies our desire to jointly develop experiential solutions through leading-edge technology for smart commuter-station connections. We are confident that this would pave the way for greater business success together."
Mr. Ji Zenghe, Executive Chairman of The Place Holdings, said, "Innovative visual experiences and new digital media technology continue to play a pivotal role in boosting mindshare among consumers as our physical and digital worlds come closer together.
As Singapore's largest managing agent of retail and advertising spaces in Singapore's rail network, Stellar Lifestyle has created a thriving ecosystem that includes F&B, shopping and digital solutions.
Through this strategic collaboration, we aim to combine our unique complementary strengths in enhancing smart commuting and creating innovative digital media solutions within this ecosystem.
This is an important milestone for the Group as we deepen our business roots in Singapore and create new value propositions with our capabilities in immersive media and digital technologies."
Mr. Ji added, "With the Sky Screen's visual extravaganza and technology features, we aim to contribute to the vibrancy and diversity of Singapore's retail and tourism landscape by creating unique and engaging experiences.
Together with Stellar Lifestyle's extensive touchpoints across Singapore, there are significant opportunities to continuously improve our service offerings and experience to targeted audiences and to redefine the future of digital media solutions."
This document is to be read in conjunction with The Place Holdings' exchange filings on 31 March 2022, which can be downloaded via www.sgx.com.
About The Place Holdings Limited
(SGX Code: E27)
Listed on the Mainboard of the Singapore Exchange, The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), focuses on integrating traditional businesses with omni-channel strategies and digital solutions (such as "new-retail" solutions, last mile logistics, immersive virtual reality technology, enterprise intelligent connectivity) to harness new growth opportunities in the digital economy.
The Group has established a strong business platform to create new value propositions within its 3 core business pillars:
1. Property development and property management activities
2. Cultural tourism and related "new retail" businesses
3. Integrated media-related businesses with management & operation rights
The Group is backed by the key management team of The Place Investment Group, a multi-billion PRC conglomerate that has a strong track record for its extensive business portfolio in tourism, media, property management, biomedical technology investments and international trade.
Embolden with a new business approach and forward-looking corporate culture, The Place Holdings is expanding our business presence of profitable businesses with high growth potential in Singapore and China through organic and inorganic initiatives.
For additional information, please visit www.theplaceholdings.com
About Stellar Lifestyle
Transit Retail & Advertising Solutions
Stellar Lifestyle, a business arm of SMRT Corporation Limited, has expertise in property and retail management, media and digital advertising solutions. We create vibrant transit destinations and lifestyle experiences to make our everyday touchpoints better. Our growing portfolio includes mall management and outdoor media & digital engagement platforms. We are also the largest managing agent of retail and advertising spaces in Singapore's rail network.
Issued on behalf of The Place Holdings Limited and Stellar Lifestyle by 8PR Asia Pte Ltd.
For further information, please contact the following:
Mr. Zhang Wei
Chief Strategy Officer
The Place Holdings Limited
Tel: (65) 6781 8156
Fax: (65) 6781 8159
SMRT Corporate Communications
Tel: (65) 9822 0902
Mr. Alex TAN
Mobile: +65 9451 5252
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe Place Holdings Limited, is pleased to announce that it has entered into a non-binding Memorandum of Understanding with Stellar Lifestyle Pte. Ltd., a business arm of SMRT Corporation Ltd., to jointly collaborate to shape the future of digital media and tap new opportunities in the digital economy.