Latest news with #KelvinLim
Straits Times
6 days ago
- Business
- Straits Times
Coliwoo to convert state-owned property in Pasir Ris into 350-key resort chalet
An artist's impression of the proposed resort chalet is in the vicinity of Pasir Ris Beach, Downtown East and Wild Wild Wet. PHOTO: COLIWOO SINGAPORE - A Coliwoo unit was awarded the lease of a state-owned property in Pasir Ris, which the co-living brand will transform into a 350-key resort chalet. Coliwoo Keppel was among five bidders for the 159 Jalan Loyang Besar site in a tender launched by the Singapore Land Authority (SLA). The bids in the price quality method tender ranged from $98,000 to $225,900, with Coliwoo placing the second highest bid of $225,000. 'We are excited to be awarded the tender at 159 Jalan Loyang Besar, marking Coliwoo's strategic expansion into eastern Singapore and our first foray into resort-style co-living hospitality,' said Kelvin Lim, executive chairman of LHN Limited and founder of Coliwoo. Together with another Coliwoo property – in the former Bukit Timah Fire Station – to be launched soon, this development underscores the group's commitment to revitalising state-owned properties and injecting vibrancy into its surrounding neighbourhoods. 'We believe this project will set a new benchmark for co-living in Singapore, meeting the evolving needs of today's modern guests and travellers who seek flexible, community-driven living spaces that also offer a touch of escapism,' said Mr Lim. The property sits on a land parcel spanning 380,866 square feet. Currently, there are 20 two-storey buildings, four single-storey structures and several vehicle lots on-site. It is in the vicinity of Pasir Ris Beach, Downtown East and Wild Wild Wet. 'Guests can look forward to a wide range of wellness-centric facilities including swimming pools, indoor and outdoor sports zones, and meditation gardens,' Coliwoo said. The property will be Coliwoo's third largest, after Coliwoo Boon Lay and its flagship Coliwoo Orchard. Renovations will begin in the second half of 2025, with the chalet expected to be operational by the third quarter of 2026. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
6 days ago
- Business
- Business Times
Coliwoo to convert state-owned property in Pasir Ris into 350-key resort chalet
[SINGAPORE] A Coliwoo unit was awarded the lease of a state-owned property in Pasir Ris which the co-living brand will transform into a 350-key resort chalet. Coliwoo Keppel was amongst five bidders for the 159 Jalan Loyang Besar site in a tender launched by the Singapore Land Authority (SLA). The bids in the Price Quality Method tender ranged from S$98,000 to S$225,900, with Coliwoo placing the second highest bid of S$225,000. 'We are excited to be awarded the tender at 159 Jalan Loyang Besar, marking Coliwoo's strategic expansion into eastern Singapore and our first foray into resort-style co-living hospitality,' said Kelvin Lim, executive chairman of LHN Limited and founder of Coliwoo. Together with another Coliwoo property - in the former Bukit Timah Fire Station - to launched soon, this development underscores the group's commitment to revitalising state-owned properties and injecting vibrancy into its surrounding neighbourhoods. 'We believe this project will set a new benchmark for co-living in Singapore, meeting the evolving needs of today's modern guests and travellers who seek flexible, community-driven living spaces that also offer a touch of escapism,' said Lim. The property sits on a land parcel spanning 380,866 square feet (sq ft). Currently, there are 20 two-storey buildings, four single-storey structures and several vehicle lots on-site. It is in the vicinity of Pasir Ris Beach, Downtown East and Wild Wild Wet. 'Guests can look forward to a wide range of wellness-centric facilities including swimming pools, indoor and outdoor sports zones, and meditation gardens,' Coliwoo said. The property will be Coliwoo's third largest, after Coliwoo Boon Lay and its flagship Coliwoo Orchard. Renovations will begin in the second half of 2025, with the chalet expected to be operational by Q3 2026.
Business Times
15-05-2025
- Business
- Business Times
LHN net profit for H1 rises 8.8% to S$14.1 million
[SINGAPORE] LHN's net profit for the first half ended March 31 rose 8.8 per cent to S$14.1 million from S$13 million in the year ago period. The real estate management services group's revenue increased 29.4 per cent to S$70.6 million in H1, from S$54.5 million the year before. The increase was primarily attributed to revenue contribution from the property development business as well as an increase in revenue from the co-living business, LHN said on Thursday (May 15). Kelvin Lim, executive chairman and group managing director of LHN, said: 'The addition of (the) property development segment as a new revenue stream has significantly enhanced our financial resilience and growth potential amid the ongoing geopolitical uncertainties and a dynamic economic environment. 'Additionally, the ongoing growth and strong performance of our co-living business, Coliwoo, continue to provide a reliable and expanding revenue base.' Earnings per share stood at S$0.0338, a 6.6 per cent increase from S$0.0317 a year ago. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This year, LHN recorded its maiden revenue contribution from its property development business from the sale of certain strata-titled units at 55 Tuas South Avenue 1, a nine-storey industrial development property. The group is also redeveloping property in Geylang into a strata-titled commercial building for retail and office use, with an estimated saleable area of over 28,000 sq ft. The project at Geylang will be LHN's second property development project. Revenue from the cleaning and related services and carpark management businesses rose 12.6 per cent to S$19.4 million in H1 2025 from S$17.2 million a year ago, LHN said. 'The profit improvement was mainly driven by new integrated facilities management contracts and car park management projects secured, coupled with the cessation of less efficient car park management projects in Hong Kong.' Revenue from LHN's energy business declined by 6.9 per cent to S$768,000 in H1. On Thursday, LHN said that the group remains cautiously optimistic on the demand for both short-term and long-term rentals for 2025. Private residential rents are projected to rise between 2 and 4 per cent in 2025 due to shrinking supply and improved economic conditions. The Singapore Tourism Board is expecting international visitor arrivals to reach between 17 million and 18.5 million in 2025, an increase from 16.5 million in 2024, driven by new attractions such as Minion Land, Rainforest Wild Asia in Mandai, a robust meetings, incentives, conferences, and exhibitions (Mice) events calendar and improved air connectivity. LHN said: 'The growing number of tourists will contribute to healthy demand for short-term lodging.' The group declared an interim dividend of S$0.01, unchanged from a year ago. Shares of LHN closed 1 per cent or S$0.005 lower at S$0.495 on Thursday.
Yahoo
29-04-2025
- Business
- Yahoo
MyRepublic launches product for collectors and gamers
MyRepublic, fibre broadband service provider in Singapore, has launched Geek Insurance, an insurance product tailored for hobbyists, gamers and collectors. The offering, developed in collaboration with HL Assurance, aims to provide protection for 'high-value collectibles' and gaming equipment. HL Assurance CEO Kelvin Lim said: 'We are proud to partner with MyRepublic to underwrite Geek Insurance and bring this innovative product to life. We understand the deep passion collectors have for their hobbies, and we've designed this product to offer the protection and peace of mind they deserve. 'This collaboration allows us to address a previously underserved segment in a meaningful and innovative way.' Geek Insurance provides coverage for collectibles, personal electronic devices, and other household contents within the home against loss, theft, and accidental damage. The items for this insurance policy include Trading Card Games (TCGs), figurines and toys, game collections, comic books, limited-edition merchandise, and memorabilia. The launch is part of the MyRepublic's strategy to create solutions catering to niche communities. The insurance plans are starting from S$4.90 ($3.74) per month and offer up to $15,000 in coverage. MyRepublic also plans to expand its insurance offerings with the introduction of a home insurance plan. MyRepublic Broadband managing director and chief AI officer Lawrence Chan stated: 'Geek Insurance is a natural extension of that commitment, offering collectors peace of mind through targeted protection. 'We recognise the value — both financial and sentimental — that collectors place on their items and aim to provide insurance that meets those unique needs. Our own team is passionate about trading card games and collectibles too, so this is something that's close to our hearts.' "MyRepublic launches product for collectors and gamers" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
The Sun
29-04-2025
- Business
- The Sun
MyRepublic Launches Singapore's First Insurance Tailored for Geeks and Collectors
SINGAPORE – Media OutReach Newswire – 28 April 2025 - MyRepublic, an award-winning fibre broadband service provider in Singapore, has launched Geek Insurance, a first-of-its-kind insurance product designed specifically for hobbyists, gamers, and collectors. This initiative, developed in collaboration with HL Assurance, addresses the growing demand for specialised protection of high-value collectibles and gaming equipment. As interest in trading card games, figurines, and collectible merchandise continues to rise in Singapore, many enthusiasts are investing significantly in their collections. However, traditional home insurance policies often provide limited or no coverage for such items. Geek Insurance offers a dedicated solution, focusing on coverage for collectibles, personal electronic devices, and other household contents in the home against loss, theft, and accidental damage. Items eligible for coverage under Geek Insurance include: •Trading Card Games (TCGs) •Figurines and Toys •Game Collections •Comic Books •Limited-Edition Merchandise •Memorabilia 'At MyRepublic, we've long embraced geek and gamer culture as part of our brand identity. Geek Insurance is a natural extension of that commitment, offering collectors peace of mind through targeted protection,' said Lawrence Chan, Managing Director and Chief AI Officer, MyRepublic Broadband. 'We recognise the value — both financial and sentimental — that collectors place on their items and aim to provide insurance that meets those unique needs. Our own team is passionate about trading card games and collectibles too, so this is something that's close to our hearts.' 'We are proud to partner with MyRepublic to underwrite Geek Insurance and bring this innovative product to life,' said Kelvin Lim, CEO, HL Assurance. 'We understand the deep passion collectors have for their hobbies, and we've designed this product to offer the protection and peace of mind they deserve. This collaboration allows us to address a previously underserved segment in a meaningful and innovative way.' Geek Insurance reflects MyRepublic's continued dedication to developing innovative solutions for niche communities. The plans, starting from $4.90 per month with up to $15,000 coverage, feature a simplified claims process, competitive premiums, and tailored benefits, empowering customers to enjoy their hobbies without the burden of potential loss or damage. The launch of Geek Insurance marks another milestone in MyRepublic's ongoing pursuit to deliver differentiated value and service innovation. In addition to Geek Insurance, MyRepublic is preparing to introduce a comprehensive home insurance plan aimed at individuals seeking broader coverage for their residences and personal property. For more information on Geek Insurance and how to apply, please visit or contact the media representative below.
