Keppel Land China was conferred the Top 10 ASEAN Companies in China award by the China-ASEAN Business Council (CABC) in a ceremony held on 5 February 2015 in Beijing.
This is the third consecutive year that Keppel Land China has been recognised for its economic and social contributions to local Chinese communities.
The award ceremony took place in the presence of Mr Liu Guchang, former Chinese Vice Foreign Minister and Chairman of China Foundation for International Studies, Mr Ge Zhirong, Counsellor of State Council and President of the China Entry-Exit Inspection and Quarantine Association, Mr Xu Ningning, Executive Secretary-General of China-ASEAN Business Council, and ambassadors to China from all 10 ASEAN countries.
Receiving the award on behalf of Keppel Land China was its President, Mr Ho Cheok Kong, who said, “Keppel Land was one of the first foreign property developers to enter China in the early ‘90s. Over the years, we have been privileged to play a part in China’s urbanisation. Today, China is one of Keppel Land’s core markets and our portfolio of award-winning residential, commercial, waterfront and lifestyle developments across 10 Chinese cities is distinguished for its quality and thoughtful innovations.
“We are confident that Keppel Land is well-poised to continue to grow with China as we deepen our presence in our five focus cities of Shanghai, Beijing, Tianjin, Chengdu and Wuxi, where we have built our presence and strong local teams.
“Beyond sustaining growth in our businesses, Keppel Land China is also committed to engage and nurture communities wherever we operate.”
The judging panel for the award comprised members of the CABC, relevant government authorities and Economic and Commercial Offices of the 10 ASEAN embassies in China, as well as representatives from relevant business councils of China and ASEAN. Selection was based on scale of investments of the companies, their development progress in China and contributions to the Chinese economy and society.
Separately, Keppel Land China has signed a Memorandum of Understanding with Shanghai Pudong Development Bank for a RMB 3 billion credit line.
This is one of the largest credit facilities ever granted by Shanghai Pudong Development Bank to a foreign property developer and its first to a Singaporean company. The agreement demonstrates Keppel Land’s long-term commitment and confidence in growing with China into the future.
As at end-2014, Keppel Land has about $6.3 billion worth of assets in China, comprising more than 20 projects in 10 cities. China remains the largest overseas market for Keppel Land, accounting for about 44% of total assets. The Company completed a record 5,100 units in the country in 2014.