Grundfos, a provider of advanced pump solutions and water technology, announced recently that it has achieved a Platinum medal rating from EcoVadis. This recognition places Grundfos in the top 1 percent of companies rated worldwide, showcasing its unwavering commitment to sustainable business practices.
EcoVadis is one of the world’s largest and most trusted providers of business sustainability ratings, assessing more than 130,000 companies’ actions and practices on their corporate and social responsibility. Using its international standards, EcoVadis has evaluated Grundfos across four key areas: Environment, Labour & Human Rights, Ethics, and Sustainable Procurement to award the business a Platinum medal rating.
Since the last assessment (Gold medal rating), Grundfos has implemented additional measures and policies to strengthen social and environmental responsibility across the value chain. At the same time, the company has made significant progress towards both water and climate ambitions, reflecting the company’s ongoing commitment to sustainability and continuous improvement.
“We are very proud of the Platinum rating, which I would like to dedicate to our hardworking and dedicated colleagues worldwide. It encourages us to keep pushing ourselves to enhance our ESG (Environmental, Social, and Governance) practices that include progressing towards net zero by 2050, fostering a fair, inclusive, and safe working environment, enforcing strong ethical business standards, and ensuring sustainable procurement across our entire value chain,” said Louise Koch, Senior Director, Group Head of Sustainability, Grundfos.
Silvio Vanzo, Group Senior Vice President, Purchasing, Grundfos added, “Achieving Platinum certification highlights Grundfos’ commitment to conduct business in a responsible way, but it also highlights the close collaboration and trust between us and our loyal suppliers and customers. Their cooperation and input have been instrumental in strengthening and enhancing our ESG practices throughout the entire value chain.”
Grundfos sustainability highlights include:
Environment: SBTi validated 2050 net-zero target
Climate: Since 2020, Grundfos has reduced its CO2 emissions by 11.7 percent (2023). Through a new Power Purchase Agreement, the company is set to meet its target of a 50 percent reduction in operational carbon emissions in 2025 – five years ahead of the company’s original 2030 goal.
Water: In 2023, Grundfos solutions enabled customers and end users to save an estimated 1.6bn m³ of water and reduced water withdrawal in their own operations by 48 percent since 2020.
Labour & Human Rights: To foster a fair, inclusive, and safe working environment, Grundfos has robust labour policies and practices across its value chain.
Ethics: Grundfos has implemented rigorous anti-corruption measures, conducts regular audits, and provides extensive training to ensure ethical practices are maintained throughout its operations.
Hong Kong and Macau are Asia’s most expensive construction markets to build in this year at $4,500 and $4,269 per square metre respectively – and the ninth and 12th most expensive cities globally. The economic slowdown in China and the rise in nearshoring activities worldwide are opening up new construction opportunities for key emerging markets in Asia with Malaysia, Indonesia and India all benefitting.
The international trend of nearshoring, friend-shoring and reshoring is stimulating construction demand for local manufacturing bases in Asia to reduce reliance on cross-border trade. Meanwhile, as developed markets in the region adjust to both macroeconomic and domestic challenges, Hong Kong re-enters the top 10 list of most expensive markets to build in globally, in ninth place, with an average cost of US$4,500 per square metre, followed closely by Macau in 12th with an average cost of US$4,269 per square metre
The International Construction Market Survey (ICMS) 2024 report, from global professional services company Turner & Townsend, shows that while construction still faces challenges, inflationary pressure is softening, and stabilising costs are allowing investment flow in key global growth sectors such as data centres, healthcare and manufacturing.
From a survey of 91 global cities, except Hong Kong and Macau, all Chinese markets languish near the bottom of the overall cost table. China’s GDP growth is forecast to slow to 4.6 percent in 2024 from 5.2 percent last year1 as the country’s abundant labour force continues to keep costs low across its mainland markets.
Japanese cities, stalwarts in the top ten most expensive cities to build in globally for the past two years, have slipped out of the top rankings this year. Tokyo, ranked fifth, and Osaka, sixth, in 2023 are now the 13th and 17th most expensive markets to build in worldwide at US$ 4,127 per square metre and US$3,985 per square metre, respectively. Strong global inflation, moderate post-pandemic economic growth, and a significant devaluation of the Yen to a 34-year low, are key factors behind Japan’s lower overall construction costs this year. The weakened Yen, however, has spurred foreign investment into sectors such as data centres, advanced manufacturing and urban developments, all of which are experiencing high growth. Osaka, in particular, is seeing a major development boom as it prepares for World Expo 2025.
India has seen strong industrial investment as it strengthens its economic drivers – particularly in advanced manufacturing – as it looks to overtake China. This is seen in Bangalore, where advanced manufacturing construction costs are now US$1,861 per square metre, compared with US$568 per square metre in Shenzhen. Malaysia and Indonesia are also seeing high growth in manufacturing as part of this shift, and in Jakarta, the cost of advanced manufacturing construction has sharply risen.
A significant factor driving inflation worldwide is a scarcity of skilled labour. A staggering 79.1 percent of markets, representing 72 individual markets, reported skill shortages. This stands in stark contrast to just 9.9 percent, or 9 markets, with a labour surplus. The remaining 11 percent, or 10 markets, indicated a balanced labour market. This imbalance between supply and demand for skilled workers is putting continued upward pressure on construction costs globally.
Overall, the data points to lowering construction price inflationary pressure globally. Turner & Townsend has modestly reduced its 2024 construction cost inflation forecasts compared to last year. Construction cost inflation in most markets is driven by a backlog of projects, which are gradually moving forward as construction costs stabilise.
Sumit Mukherjee, head of real estate, Asia, at Turner & Townsend, said “In 2024 we’re seeing consistent trends across Asia in response to the impact of China’s economic slowdown. The shift to nearshore manufacturing, to neutralise the impact of China’s slowdown, is creating significant growth and opportunities as other Asian markets invest in sectors like advanced manufacturing. Other growth areas are being fuelled by Asia’s increasing population and wealth – with much greater demand for leisure and hospitality construction as well as investment in new education and healthcare facilities.
“In the context of this growth and opportunity – clients need to keep an eye on labour. Traditionally Asian labour markets are known for high availability and low wages – but as demand grows for specialist construction such as advanced manufacture and data centres, there may be bottlenecks of high-skilled workers in these sectors. Keeping close to supply chains and regularly assessing local development pipelines is essential to avoid potential issues.”
Phuket is booming. Thailand’s leading resort island has long been a dream destination for the world’s travellers, 8.4 million of whom flocked to its shores last year. Now, this idyllic destination’s popularity is also driving rising interest from affluent investors seeking new lifestyles in paradise, with a surge in demand for internationally-branded luxury residences in the island’s idyllic locations, especially along the stunning sunset coast.
According to a recent report by C9 Hotelworks, the total value of new branded residence supply in Phuket has now reached THB 80 billion (approx. USD 2.3 billion) – a historical high. In one of the island’s most eye-catching projects, Mishari Group Ltd, the prestigious international property developer, has partnered with Meliá Hotels International, the highly acclaimed European hotel group, to create Meliá Phuket Karon Residences, a breath-taking new hillside project which comprises 68 elegantly-appointed residences and shares the five-star facilities of the neighbouring 138-key Meliá Phuket Karon Hotel. The total value is THB 4.5 billion.
Nestled in 6.4 hectares of lush jungle, overlooking Karon Beach – Phuket’s longest stretch of golden sand – and the turquoise waters of the Andaman Sea, with a protected nature reserve covering 50% of the total area, Meliá Phuket Karon Residences is perfectly suited to the emerging lifestyle trends of the post-pandemic era. Empowered by a rise in global and digital connectivity and the “work-from-anywhere” movement, many urbanites are now seeking new lives away from the city, so this low-density, sustainable design will attract a new generation of eco-conscious professionals. C9 Hotelworks notes that the Phuket branded residences market has experienced a significant uptick in construction since the end of the pandemic. A total of 2,102 new units were added to the market from 2021 to 2023 – a 179 percent jump compared to the previous three-year period.
Strategic Blend of Premium Condos and Ultra-Luxury Pool Villas
Another factor that puts Meliá Phuket Karon Residences at the forefront of Phuket’s real estate boom is the project’s strategic combination of high-end accommodation types. The development features a total of 52 one- and two-bedroom condominium-style Ocean View Residences (56 to 88.5 square metres) and 16 three- and four-bedroom Ocean View Pool Villas (320 to 490 square metres), each of which features an elevated 9.5-metre-long outdoor infinity pool.
Condominiums, which form 59% of the total Phuket market, have recorded an average unit price point of THB 11.7 million, while the median price for villas is THB 120 million. Despite villas representing only 6 percent of the available supply, they account for 41 percent of the total value, according to C9 Hotelworks. Meliá Phuket Karon Residences spans both of these important segments, allowing it to cater to the needs of premium and ultra-premium investors alike.
Five-Star Services Attract Strong Interest from Savvy Investors
All owners at Meliá Phuket Karon Residences will enjoy a wealth of five-star services managed by Meliá Hotels International, including an 800-square metre forest spa, bars and restaurants, a beach club, and a nature park. Karon Beach is just five minutes away by a dedicated shuttle service, and residents are offered the use of a 70-foot, four-bed Sunseeker boat with a capacity for 20 to 30 people.
With such strong demand for branded residences in Phuket, it is little surprise that international interest in Meliá Phuket Karon Residences has been high. As of May 2024, 60 percent of the condos and pool villas have already been pre-sold. A Meliá-managed rental pool will be available for residence owners. Development is already well underway; all units are expected to be fully completed by March 2025. Prices at Meliá Phuket Karon Residences start from THB 8.5 million (S$316,266).
In the fourth annual competition of Otis’ Made to Move Communities Challenge, students developed innovative mobility solutions aimed at expanding access to green space in urban communities to advance residents’ well-being. Otis is an elevator and escalator manufacturing, installation and service company.
The global student challenge for 2023-24 included more than 240 students across 15 countries and territories. With the guidance of Otis volunteer mentors, students used design thinking to develop mobility solutions that would use cutting-edge technologies to help increase access to parks for people living with disabilities or from underserved areas of cities – improving residents’ well-being and shaping the future of urban communities. Teams then presented their STEM-based proposals to a panel of Otis judges who selected the winners and awarded financial grants to their respective schools to advance STEM programming and benefit even more students.
“Indonesia’s rapid urbanisation underscores the urgent need to prioritise the development of green spaces for residents’ well-being and environmental sustainability,” said Joseph Hasnan, Managing Director of Otis Indonesia. “Otis volunteer mentors are delighted to have collaborated with students from Mentari Intercultural School (MIS) Grand Surya on proposing solutions to enhance the accessibility of public green spaces and transform their urban environment.”
The students from MIS Grand Surya who received an Honorable Mention for the competition, conceptualised a green space app, which is an integrated solution for helping community members identify nearby greenspaces based on their needs and preferences. In addition, they also proposed autonomous and environmentally friendly transport systems that enable residents to reach green spaces more quickly and efficiently.
“At Mentari, our mission is to cultivate lifelong learners with a growth mindset and a positive attitude to contribute meaningfully to society,” said Yudi Kristianto, Vice Principal of Mentari Intercultural School Grand Surya. “Through Otis’ Made to Move Communities challenge, our students not only deepened their understanding of Science, Technology, Engineering and Mathematical (STEM) concepts but also had the chance to play a pivotal role as architects of their urban spaces.”
Since 2020, this annual global student competition has engaged hundreds of Otis colleagues as mentors to over 750 students, developing and presenting mobility solutions to some of society’s most critical mobility challenges. The program is also driving progress toward three of Otis’ published ESG goals: impacting 15,000 students globally through STEM and vocational training, directing 50% of giving to STEM programs and dedicating 500,000 colleague volunteer hours by 2030.
Johnson Controls recently announced a partnership with Ngee Ann Polytechnic (NP) to establish the NP Built Environment Ecosystem (BEE) initiative, together with other industry partners. Through this programme, Johnson Controls will equip NP students with practical learning and experience in smart facilities management.
The partnership comes at a critical time when jobs in the ESG sector have surged by 257% in the last three years. With the partnership, Johnson Controls and other industry leaders will provide students access to invaluable training and insights. Under the BEE initiative, NP aims to upskill up to 1,000 professionals in the industry over three years, underscoring the importance of public-private partnerships in elevating industry standards and equipping future talent with the necessary skills.
“Through this collaboration, we aim to upskill professionals and nurture a future generation who can lead the change toward a more sustainable built environment,” said Peter Ferguson, General Manager, Southeast Asia, Johnson Controls. “Our collaboration takes on even greater significance, in today’s landscape where sustainability-related roles are increasingly in demand and sustainable practices have become top priority for businesses. We’re committed to advancing both innovation and education within the industry in Singapore and Southeast Asia, empowering students to excel in facilities management to drive smart cities in the region.”
In addition to updated education courses, the initiative will provide NP students with practice-based training and internship opportunities across Project Delivery and Services teams. These roles offer real-world experience in various aspects of the built environment sector, aligning with the broader goals of sustainability in the industry.
“At Ngee Ann Polytechnic, we are committed to forging strategic partnerships with industry leaders like Johnson Controls to drive sustainability innovation and talent development for the built environment sector. We believe that the synergy through this partnership will benefit the industry. The alliance also reflects our shared aspiration to play an instrumental role in Singapore’s vision for a more sustainable future,” said Mr Lim Kok Kiang, Principal and CEO of Ngee Ann Polytechnic.
Transforming Campus Development with Integrated Buildings Technology
Johnson Controls has been helping Singapore’s educational sector accelerate its built environment transformation. It recently completed a project for a technical institution in Singapore that integrates facility management and security systems into an innovative command platform. This integration optimises manpower resources, enhances task assignments, and streamlines operations, setting a benchmark for efficiency and effectiveness.
Another local university is partnering with Johnson Controls to establish an Integrated Operations Centre (IOC) for its campus. The IOC elevates campus management by seamlessly integrating all technologies into OpenBlue Enterprise Manager, the unified platform enabling proactive event alarms, precise energy consumption analysis, and accurate maintenance predictions. This has significantly improved operational efficiency and guarantees an optimized system performance for a safer, greener campus environment.
Commitment to Education and Enabling Future Talents in the Built Environment Sector
As part of its dedication to developing a skilled workforce in the built environment sector, Johnson Controls was awarded the SkillsFuture Employer Award (Gold) in 2023. As a SkillsFuture Queen Bee in Built Environment Facilities Management, Johnson Controls empowers small and medium-sized enterprises (SMEs) through digital literacy workshops, aiding their decarbonisation efforts and energy efficiency solutions in building management. This support is crucial for SMEs starting their sustainability journeys, addressing the lack of knowledge and awareness amidst growing sustainability concerns.
The 2024 Asia Pacific Home Attainability Index by the Urban Land Institute (ULI) offers a comprehensive overview of housing attainability across the Asia Pacific region. In this third edition, the report includes data from three additional cities – Bangkok, Kuala Lumpur, and Perth, expanding its coverage to 48 cities in 11 countries, namely, Australia, China (including Hong Kong SAR), India, Indonesia, Japan, Malaysia, Singapore, South Korea, the Philippines, Thailand, and Vietnam.
Alan Beebe, CEO, ULI Asia Pacific, said: “In addition to measuring home attainability for both home ownership and rentals in relation to median household income across 48 cities, the report has also identified key trends and factors affecting home attainability in Asia Pacific region, which represents 60 percent of the world with a population of 4.3 billion people. By identifying key factors impacting housing supply and demand, we can work towards advancing best practices in residential development and to support ULI members and local communities in creating more equitable housing opportunities for all, aligned with our goal at the ULI Asia Pacific Centre for Housing.”
Figure 1: Median/average home price to median annual household income
Figure 2: Median/average monthly rent to median monthly household income
2024 ULI Asia Pacific Home Attainability Index Key Trends:
1) In cities experiencing significant immigration inflows, home prices and rent have risen materially.
Popular gateway cities for overseas immigration and studies, such as Singapore, Sydney, and Tokyo, have recorded steep hikes in home prices due to a large influx of immigrants, while key Australian cities including Sydney and Melbourne saw increases in rental rates due to falling vacancy rates of 0.9 percent and 2.2 percent, respectively.
Tokyo’s urban core area consisting of 23 wards has seen its new condominium prices rise by nearly 40 percent, caused by an increase in foreign buyers, primarily from mainland China and the relatively inexpensive prices for a global gateway city. For comparison, even after the price increase, the median price of a new condominium in Tokyo is US$800,000, considerably lower than the median price of over US$1 million for new units in similar urban cores of Tier 1 cities in China such as Shenzhen, Shanghai, and Beijing.
As a result, Tokyo has emerged as an attractive choice for mainland Chinese looking to buy a property outside of China. To curb private home prices, Singapore introduced a 60 percent stamp duty on foreign buyers of private homes, contributing to a 20 percent drop in total home sales.
2) High home prices and rent levels have negatively impacted home attainability for young people in their 20s and 30s. To alleviate the housing shortage and improve home attainability, some national governments are promoting for-rent developments.
At the current price levels, young people in their twenties and thirties living in leading economic centres, especially first-generation young migrants, have little hope of being able to afford a home. This is unless they come from generational wealth or belong to a small minority of otherwise wealthy individuals.
As an example, Bangkok’s median condo price of around US$224,000 is 21 times the median annual household income, while the median monthly rent of US$1,150 represents 129 percent of the median monthly income. In Bengaluru, the return of IT professionals into India’s IT hub following the end of COVID-19 drove the ratio of median home price to median annual household income to 16.4 from 11.1 in the previous year.
To alleviate the housing shortage and improve home attainability, countries and investors are pivoting towards promoting for-rent projects to increase the supply of affordable homes. Australia’s new Labour Party government adopted a housing policy that includes an AU$10 billion (approx. US$6.5 billion) Housing Australia Fund to fund 30,000 new social and affordable rental homes in five years, as well as tax incentives for the development of build-to-rent homes in the private market.
In Singapore, where housing policy is centred on home ownership, the government has recently sold a plot of land with a requirement for large-scale, long-term rental units. This unusual move was made after the Urban Redevelopment Authority (URA) determined that there is sufficient demand for long-term rental housing, especially among young professionals, students, and families in transition, following consultations with the industry.
3) Home buyers and renters are forced to take on financial risks, such as loss of deposits or not receiving their completed homes on time, as home builders and landlords get into financial distress which impacts project completions.
In mainland China, sluggish sales and escalating costs in the past two years have caused many leading home developers to incur unprecedented losses and default on loans. Given that pre-sale of homes before construction is customary in mainland China, buyers of such homes still under construction are placed in a precarious position where they run the risk of not receiving their completed homes on time.
In Australia, in the past two years, over 2,000 home builders went out of business largely due to rising interest rates, building materials and labour costs. Homeowners face substantial financial risks such as not being able to recover deposits or not having the home constructed as agreed.
In Vietnam, many developments have come to a standstill as developers failed to meet interest payments, a situation further exacerbated by the credit crunch spurred by declining bond issuance and a general market turmoil that impacted developers’ liquidity. While the Vietnamese government has implemented countermeasures such as reducing mortgage rates, a new Land Law that emphasises market-driven land valuation could significantly increase the costs of acquiring projects.
Beebe added: “The housing market has been significantly affected by heightened interest rates and rising costs. Homeownership represents the most valuable asset for most households, and the housing sector is a key part of the overall economy. Moving forward, we expect to see governments in the region introduce more countermeasures to rein in rising home prices.”
Other key findings and metrics from the report include:
In terms of home ownership, public housing in Singapore continues to be the most attainable, while homes in Shenzhen are the least attainable. The median price of Housing Development Board (HDB) units, representing 90 percent of the total housing stock in the city-state, is less than 5 times that of the median annual household income, while Shenzhen has the highest ratio of median home prices relative to median annual household income at 32 times, followed by Beijing at 28, and Metro Manila, Ho Chi Minh City, and Hong Kong SAR at around 25.
As for home rental, cities in Japan and South Korea, excluding capitals Tokyo and Seoul, are the most affordable with the lowest ratio of monthly rent to income. Rent in South Korean cities (outside of Seoul) ranges from 18 percent to 25 percent of monthly income, while rent in Japanese cities (outside of Tokyo) ranges from 14 percent to 16 percent of the median monthly household income. Conversely, rent in cities in the Philippines are least affordable, with median monthly rent to median monthly household income near or above 100 percent.
Among the region’s gateway cities, Hong Kong SAR has the lowest home attainability with a median home price of over $1.1 million, which is 25 times the median household income, in contrast to Tokyo and Seoul with home price-to-income ratios of around 15.
It is estimated that Jakarta, Indonesia needs 800,000 additional homes to accommodate new migrants moving to the capital of the world’s fourth most populous country. Of the 2.8 million existing homes, 63 percent are deemed substandard with many without access to the public water system.
Leading cities in developing countries such as India, the Philippines, and Vietnam have been heavily investing in mass transportation infrastructure like new metro lines, which is expected to increase mobility and connectivity between suburbs to city centres. This will expand the area for daily commutes and create opportunities for high-density development projects around stations to increase housing stock.
In this report, home attainability is measured by (i) median home price to median annual household income, ideally less than five times, and (ii) median monthly rent to median monthly household income, ideally less than 30 percent.
A complete list of the 10 key trends and insights are identified by the 2024 Asia Pacific Home Attainability Index. Analyses of home attainability by country are also available in the full report, which can be found on ULI’s Knowledge Finder platform.
Savills Singapore recently announced that Delfi Orchard at 402 Orchard Road has been sold for $439 million via public tender, which closed on 27 May. City Developments Limited (CDL) through its wholly owned subsidiary CDL Draco Pte. Ltd. has been awarded the collective sale tender for Delfi Orchard, a prime 11-storey freehold strata titled commercial building at the price of $439 million.
Enjoying a prominent frontage of approximately 80 metres along Orchard Road, Delfi Orchard is situated on a freehold site of approximately 20,264 sq ft and is zoned “Commercial” with a height control of up to 20 stories. Delfi Orchard has a development baseline verified by the Singapore Land Authority (SLA) at 131,186 sq ft which is equivalent to a plot ratio of 6.474. This compares with the Master Plan plot ratio of 4.9.
The development commands attention with its prominent frontage and visibility throughout the day. Delfi Orchard is also within a stone’s throw to Singapore’s most prestigious residential neighbourhood, Ardmore Park/Nassim Park, well served by the public transport network and seamlessly connected to amenities including the famed Orchard Road shopping belt, renowned medical establishments, exclusive private clubs, hotels and the Singapore Botanic Gardens, an 82 hectare of tropical paradise. The site allows developers the flexibility of multiple development options ranging from office, luxury retail, and residential to hotel. The sale price of $439 million works out to approximately $ 3,346 psf per plot ratio (ppr) based on the existing GFA of approximately 131,186 sq ft.
Jeremy Lake, Managing Director, Investment Sales & Capital Markets, says, “The sale of Delfi Orchard is the third major collective sale in the Orchard Road corridor brokered by Savills, following the earlier successful collective sales of Tanglin Shopping Centre ($868M / $2,769 ppr) and Ming Arcade ($172M / $3,125 ppr). Developers continue to be drawn to prime development opportunities here and are very excited by the URA’s plans to rejuvenate and refresh Orchard Road.”
This year marks a milestone for JJ-LAPP, the cable technology joint venture of diversified industrial conglomerate Jebsen and Jessen Group, and LAPP Holding Asia, as they celebrate two decades of growth through regional expansion and strategic partnerships.
Founded in 2004, the joint venture was built on trust and respect, and fostered by shared values. Combining Jebsen & Jessen’s local know-how and extensive reach across the region with LAPP Holding Asia’s cutting-edge German-based engineering and manufacturing capabilities, JJ-LAPP embodies their shared commitment to delivering high-quality and tailored cable technology solutions to customers in the region. Today, JJ-LAPP has established itself as a leading cable and connectivity solutions provider in South East Asia. With its initial footprint in Singapore, Malaysia, Thailand and Indonesia, JJ-LAPP steadily expanded to other key markets, including the Philippines and Vietnam.
Celebrating Key Milestones and Partnerships
Strategic partnerships and key milestones have fueled JJ-LAPP’s growth over the past two decades. In 2010, JJ-LAPP established a manufacturing facility in Indonesia, expanding its manufacturing capabilities in the region. JJ-LAPP has forged strategic partnerships throughout the region to grow its Renewable Energy segment and become a one-stop solutions provider for solar projects. This includes partnerships with Huawei for its complete range of Solar PV Inverters, Trina Solar, a leading global PV and smart energy total solution provider, and Clenergy, a global solar mounting gear provider. These strategic partnerships have facilitated access to solar PV projects by building on JJ-LAPP’s range of top-quality solar connectors and solar cables from LAPP and other world-renowned brands.
Establishing itself as a trusted partner and provider of customised cable and connectivity products and solutions across the region, backed by its extensive reach, JJ-LAPP has supported major projects across a diverse range of industries, including building automation, industrial automation, renewable energy, harnessing solutions, mining and machine building. With a commitment towards regional innovation, JJ-LAPP’s projects include:
Riau Andalan Pulp and Paper (RAPP), the operating arm in Indonesia of Asia Pacific Resources International Limited (APRIL) Group, a leading producer of fibre, pulp, and paper: Supplied over 900 kilometres of customised instrumentation cables to support RAPP’s plan to achieve a fibre line with a capacity of one million tons per annum amidst their expansion plans in Indonesia.
Greatech, a leading automation solution provider: Provided support as the preferred supplier for cable, control panel design and industrial connectivity solutions for multiple projects in Malaysia.
Singapore Grand Prix: Provided over 2 kilometres of Neoprene core cables for light fixtures along the race course of the Formula 1 night race.
Seven high-end condominiums in Bangkok, Thailand: Delivered 200 kilometres of fire-resistant cables.
SM Malls, one of the largest malls in the Philippines: Delivered 300 kilometres of Lapp Ölflex Solar cables.
Expanding Horizons: New Focus Industries and Growth Strategy
Looking ahead, JJ-LAPP is committed to further diversifying its offerings and expanding into focus industries, including F&B, Machine Maker (OEM), Intralogistics (Material Handling, Conveyor Systems, Ports), Robotics, and Switchgear / Panel Maker. With a clearly defined growth strategy, the company will leverage its expertise and resources to capitalise on emerging market opportunities.
“I’m immensely grateful for the past leaders who laid a strong foundation for our enduring partnership with LAPP Holding Asia and our people and partners who have consistently contributed to its success over the past two decades. I’m excited to build on this foundation as we embark on the next chapter of our success story,” says Marc von Grabowski, Chief Executive Officer of JJ-LAPP. “By leveraging our industry expertise and expanding our portfolio of best-in-class products and solutions, we’re poised to not only drive continued growth across the region but also enter new and exciting focus industries.”
“For over two decades, Jebsen & Jessen and LAPP Holding Asia have fostered a close and enduring partnership in the region. JJ-LAPP, in its 20th anniversary, is a testament to this remarkable collaboration – a joint venture that unites the complementary strengths of our two like-minded family businesses, built on shared values and a relentless pursuit of excellence. Together, we have enjoyed a successful journey in building JJ-LAPP, and we look forward to driving its continued strategic expansion and growth in the region,” said Richard Lee, CEO of Asia Pacific Region at LAPP Holdings Asia.
International design, engineering and advisory company Aurecon has acquired CHT International Sdn Bhd (CHT), a prominent mechanical and electrical (M&E) engineering consulting firm based in Kuala Lumpur, Malaysia. This acquisition, effective from 1 June 2024, marks a significant milestone in Aurecon’s strategic expansion across Malaysia and the wider Asian region.
The addition of CHT’s experienced and respected team of 85 professionals takes Aurecon’s workforce to almost 280 in Malaysia, making it one of the largest engineering consultancy firms in the country.
“We are thrilled to welcome CHT into the Aurecon Group. The deep technical expertise and strong client relationships of the CHT team supports our strategic growth plans and enhances our ability to deliver comprehensive engineering solutions across the region. Growth in Asia is a key focus for Aurecon, and expansion in Malaysia is a key pillar of our strategy to deepen our presence and enhance our ability to support local and multi-national clients,” said William Cox, Chief Executive Officer of Aurecon.
“This acquisition marks our sixth strategic investment in Asia since 2021 across Malaysia, Hong Kong and Singapore. Global clients increasingly seek service providers with multi-country and multi-disciplinary expertise, and the inclusion of CHT strengthens cross-border collaboration and unlocks new opportunities. With our growing presence and talent pool, we are looking forward to helping drive growth and partnering with clients to bring ideas to life in Malaysia and the wider Asian region,” said Stephane Asselin, Aurecon’s Chief Executive of Asia.
Malaysia presents a compelling destination for Aurecon’s continued investment, particularly in the mechanical and electrical (M&E) engineering space, driven by its robust market potential. The country’s significant data centre build program is driving demand for M&E services, driven by the increasing size and complexity of data centres and the imperative for energy efficiency. This acquisition also enhances Aurecon’s capability to meet the growth in the industrial and manufacturing sectors in Malaysia and the region. Across Asia, Aurecon has already completed more than 60 data centre projects, evidence of its leading position in this high-growth segment.
“Joining forces with Aurecon is a tremendous opportunity for CHT and our clients. It will facilitate knowledge transfer and innovation, combining Aurecon’s global experience with our local expertise. Together, we will drive advancements in engineering solutions and service delivery,” said Ir. Tey Chai Heng, Managing Director of CHT.
Crestbrick, a boutique real estate agency that focuses on redefining both Singapore and global real estate experience, has officially appointed Shaw Yong as its new Key Executive Officer (KEO) to focus on expanding its business goals in Singapore and the Southeast Asian markets.
With over 25 years of experience in the real estate sector and having previously served as the KEO and CCO of Century 21, Shaw heavily aligns with Crestbrick’s vision and will be working with the team on their growth plan to provide exceptional support to their clients for both their local and international portfolio.
“I am thrilled to join Crestbrick and am eager to contribute my experience and insights to propel the company to new heights. It will be my pleasure to help expand not only in the international portfolio but also showing presence in the local market,” said Shaw Yong, the newly appointed KEO of Crestbrick.
As the new Key Executive Officer at Crestbrick, Shaw is pivotal in steering the company’s strategic and operational direction. His responsibilities encompass three main areas; company due diligence, training and compliance of sales agents, and business development.
Shaw will ensure comprehensive due diligence by implementing and monitoring internal controls, legal and regulatory compliance, and risk management strategies to safeguard company interests. He will also be responsible for developing and overseeing training programs for sales agents, ensuring they meet industry regulations and company policies, and continuously improving their performance through regular evaluations and support.
Additionally, Shaw will be driving Crestbrick’s business development efforts by identifying new opportunities for growth, building strong client and partner relationships, and developing strategic plans to enhance the company’s market presence and competitive advantage.
Other than reporting directly to the CEO of Crestbrick, Ivan Cai. Shaw will also be collaborating with other senior executives in various departments or teams, working closely to ensure cohesive and effective management across all company operations & activities. His extensive experience in real estate management and his leadership, communication, and organisational skills position him as a critical driver of Crestbrick’s success, ensuring the company operates with integrity, efficiency, and strategic foresight.
“We are extremely delighted with Shaw coming on board, as he will be assisting the management and Crestbrick in breaking through all the existing barriers to success. The key focus right now is to elevate the company’s brand awareness, improve agent professionalism, leverage digital tools, and foster strategic partnerships. Shaw is the right man for this,” said Ivan Cai, the CEO of Crestbrick.
As part of Shaw’s strategy, he will lead a comprehensive brand revamp, enhance agent professionalism through training and mentorship, and drive growth by exploring niche markets and grooming leaders. He will also embrace the age of digitalisation by improving the company website, app, and social media presence, and implementing strategic planning through advanced analytics and organisational agility. Shaw will also be forging strategic partnerships, including collaborations with OrangeTee & Tie and more, to enhance service offerings and efficiency.
By following these detailed strategies, Crestbrick aims to solidify its position as a leading real estate company, known for innovation, professionalism, and exceptional service.
