Latest news with #SaifurRahman
Associated Press
5 days ago
- Science
- Associated Press
How clean energy fuels the comeback of Shennongjia's golden snub-nosed monkeys?
BEIJING, May 29, 2025 /PRNewswire/ -- Finding Answers in China from Deep in the lush and mysterious forests of Shennongjia, central China's Hubei province, golden figures leap effortlessly through the treetops—these are the Shennongjia golden snub-nosed monkeys. Once on the brink of extinction, they've made a stunning recovery and are now even recognized as a unique subspecies. But what's the story behind their stunning revitalization? How has China's energy transition played a key role in protecting their habitat? And can China's ecological wisdom offer new solutions for the world? To find out, Peruvian host Rebeca Phang from teams up with global energy expert Professor Saifur Rahman for a journey into the heart of Shennongjia. When clean energy meets biodiversity conservation, and when technology empowers nature to thrive, the answers may lie in the rhythm of the forest—and in China's commitment to green development. This is more than a story about endangered monkeys; it's a search for a new path to harmony between humanity and nature. How clean energy fuels the comeback of Shennongjia's golden snub-nosed monkeys? View original content to download multimedia: SOURCE
Arabian Post
12-05-2025
- Automotive
- Arabian Post
UAE to become international hub of Motorsports
By Saifur Rahman Amit Kaushal. Chairman of AKCEL Group The governments and the private sector in the GCC are investing heavily in infrastructure and creating world-class race tracks for the development of motorsports that, coupled with strong interest among the local youth are spearheading the motorsports in the region. Home to two global Formula 1 race tracks, the region is yet to become a global hotspot for motorsports. Although a lot of youngsters aspire to become global celebrities, motorsports has not become part of the mainstream sports yet. However, this is about to change with global investors injecting resources into motorsports by not only giving the motorsports enthusiasts proper training, guidance, mentoring and putting them into racing circuits, but also by investing in creating new teams in different circuits. Amit Kaushal, an Indian entrepreneur and Group Chairman of AKCEL Group, is one such entrepreneur who is working with UAE-based motorsports professionals to create global motorsports assets that will raise the UAE flags in major international circuits. He brings more than 25 years of corporate and entrepreneurial experience, strategic foresight, operational excellence, and a deep understanding of emerging markets to the Group's global operations. AKCEL GP, a UAE-based motorsport team, unveiled its long-term vision to transform the UAE as a global hub of motorsports by developing local talents and position them in the global racing circuits where the UAE flag could fly high. Interest among young UAE nationals and expatriates for motorsports is driving the new initiative. An increasing number of UAE nationals and residents are taking active part in both amateur and professional car racing activities that will help the team to achieve this. Dubai Sports Council last year said that the sports sector contributes more than US$2.5 billion to Dubai's growing economy and responsible for 105,000 employment in the emirate. A key area of growth is sports tourism that is worth US$600 billion in the Middle East and is set to grow at .7 percent by 2026. AKCEL GP, a UAE subsidiary of the UK-based AKCEL Holdings is deploying significant resources to train and nurture local and regional talents in order to prepare them to win international racing circuits. It has recently unveiled its team members for a number of global racing events that will reinforce the UAE's position to a much higher level in these circuits. The news comes at a time when the GCC region in general and the UAE in particular is witnessing a surge in the number of motorsports events taking across the country where the number of participants – both male and female – are growing every month. Last year, AIX Investment Group announced a 100 per cent acquisition of the PHM AIX Formula 2 and Formula 3 teams. The company said that this move aligns with its unwavering commitment to innovation, performance, and global impact. Racing Force, parent company of the Bahrain-based Racing Force International had begun trading the shares of the company on Euronext Growth Milan, the market dedicated to medium-sized companies. From no motorsports facilities in 2004, the GCC currently holds more than a hundred motorsports events and car racing championships every year where thousands of local and regional participants compete against each other. Starting from go-carting to desert drive, amateur to professional racing – the region has it all, including two global venues for the annual Formula 1 racing circuits in Bahrain International Circuit and Yas Marina Formula 1 race track. Besides, Dubai Autodrome at the Dubai Motor City hosts a large race track where amateurs and professionals practice to hone their skills to achieve greater success in professional racing. Although the region is yet to claim a significant share in the US$10.79 billion global motorsports market, its share is growing due to the high level of interest in motorsports among the local population in the GCC countries as they constantly seek greater thrill. 'Formula 1's presence in the UAE is symbolic of the broader motorsport culture that exists in the Gulf. Saudi Arabia has also been making waves in this arena, hosting the Formula E races in Diriyah,' said a recent report. Formula E, the all-electric racing series, has gained momentum globally, and its continued presence in the GCC highlights the region's commitment to sustainable innovation. In fact, Saudi Arabia hosted its seventh Formula E event this year and this move is part of a broader strategy to integrate sustainability with sport.' Revenue in the sports cars market in the GCC is projected to reach US$2 billion (Dh7.3 billion) in 2025 while sale of sports cars in the region is expected to reach 28,400 in 2029, according to Statista – a global market intelligence provider. 'Sooner than later, we could see young Emirati motorsports professionals lift the Formula 1 racing title,' Amit Kaushal, Group Chairman of AKCEL Group, says. 'For that, the country has invested heavily to create an eco-system for motorsports and we are witnessing young Emirati boys and girls are enrolling in various training centres to learn car racing to compete in international circuits. AKCEL GP is here to accelerate the pace and we are going to invest more resources to make sure that the UAE flag rises high in more and more international circuits.' AKCEL GP has already started making headlines since it officially entered the global racing arena in January this year. Competing in Regional European Championship by Alpine (FRECA), Formula Regional Middle East Championship (FRMEC), and Formula 4 (F4) series, the team's entry marks a significant milestone for the UAE. AKCEL GP is championing a new era of diversity and talent. Founded on the principles of acceleration and excellence, the team aims to push the boundaries of performance and inclusivity. AKCEL GP's roster of drivers includes rising stars from diverse nationalities, showcasing the team's focus on nurturing global talent and empowering the next generation of racers. The team integrates advanced data analytics and telemetry to optimise driver performance while championing sustainable technologies such as energy-efficient systems and lightweight materials. The team's cars, adhering to FIA standards, reflect AKCEL GP's dedication to competitive excellence. With Alpine Racing collaboration for the Formula Regional European Championship by Alpine (FRECA) and FIA-standard Formula 4 vehicles designed for cost efficiency and fairness, AKCEL GP is equipped to challenge the best on circuits worldwide. With circuits spanning Europe, the Middle East, and beyond, AKCEL GP aims to connect with a diverse global audience while offering sponsors unparalleled opportunities for global exposure. 'With the availability of great facilities and large corporates coming forward to patronize local talents in the racing circuits, we are now seeing greater corporate engagement in support to local motorsports,' Amit Kaushal says, 'It is a matter of time for this motorsports movement to see a greater number of Emirati national players help the sector to grow faster. 'We are currently speaking to all stakeholders including government authorities, sports bodies, corporate world and the academicians to help the industry evolve as the level of interest among the young Emirati and expatriates are very high and we see a great opportunity to position the UAE in the global racing landscape.' Kaushal's professional journey began in the late 1990s, following the completion of his academic pursuits in India. He began his career in the private sector and went on to lead major initiatives in education before moving to the UK, where he held senior positions at top-tier investment banks including Bank of New York Mellon, Wells Fargo, Santander, Barclays, and UBS. In 2001, Amit founded his first venture in IT consulting and training services, serving clients across industries including energy, utilities, finance, healthcare, telecom, media and entertainment in UK, Ireland, and India. His business acumen has since driven the expansion of AKCEL Group into a consolidated global enterprise with operations spanning multiple continents and a projected annual revenue exceeding US$100 million. His leadership is marked by structured growth, ethical entrepreneurship, and an unwavering focus on value creation. He is passionate about developing future talent and building high-impact ventures—most notably through AKCEL GP, the Group's flagship Formula Racing Team based in the UAE. Now based in London, Amit remains deeply engaged in global business, mentorship, and motorsport. His integrity, optimism, and results-driven mindset continue to shape AKCEL Group as a dynamic force on the world stage. AKCEL GP is part of AKCEL Holdings which is a diversified investment conglomerate with interests in investment, technology, training, real estate, motorsports, sports and entertainment. The group has footprints in the United Kingdom, the UAE and India. Founded by UK-based Non-Resident Indian serial entrepreneur Amit Kaushal, the group boasts of more than a dozen businesses spread across the UK, UAE and India. With a tagline – Aspiration to Legacy – the AKCEL Group recently established AKCEL GP, a UAE-based motorsport team, that has started to make waves as it officially entered the global racing arena by competing in Regional European Championship by Alpine (FRECA), Formula Regional Middle East Championship (FRMEC), and Formula 4 (F4) series, the team's launch marks a significant milestone for the UAE. Dedicated to developing world-class racing talent and fostering innovation, AKCEL GP is setting new benchmarks in motorsport globally. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Arabian Post
08-05-2025
- Business
- Arabian Post
Emirates Group reports record profits of US$6.2 billion
By Saifur Rahman The Emirates Group reported an 18 percent growth in profit before tax exceeding US$6.2 billion (Dh22.7 billion) – a new record – in the financial year 2024-25. This is the first financial year that the UAE corporate tax, enacted in 2023, is applied to the Emirates Group. After accounting for the 9 percent tax charge, the Group's profit after tax reached US$5.6 billion (Dh20.5 billion). The world's largest international aviation group also recorded annual revenue of US$39.6 billion (Dh145.4 billion) which is 6 percent higher than the previous financial year. Emirates Group, which includes the world's largest international career Emirates Airline and its ground handling and ticketing arm Dnata – has also declared Dh6 billion dividends to its shareholder – the Government of Dubai – through Investment Corporation of Dubai (ICD). Emirates Group also reported a record level of cash assets at US$ 14.6 billion (Dh53.4 billion), up 13 percent from last year while it also reported the highest-ever Earnings before Interest, Tax, Debt and Amortisation (EBITDA) of US$11.5 billion (Dh42.2 billion), which is up 6 percent, demonstrating its strong operating profitability. Emirates Airline reported a 20 percent jump in profit before tax of US$5.8 billion (Dh21.2 billion) on record revenue of US$34.9 billion (Dh127.9 billion), for 2024-25 financial year, an increase of 6 percent over last year. The airline currently has highest-ever level of cash assets at US$13.5 billion (Dh49.7 billion), which is 16 percent higher compared to 31 March 2024. Emirates Group's ground handling and ticketing arm Dnata delivered record profit before tax of US$430 million (Dh1.6 billion), up 2 percent from last year on record revenue of US$ 5.8 billion (Dh21.1 billion), up 10 percent. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group said: 'It is no accident that Dubai has produced hugely successful global aviation entities including Emirates and dnata. Dubai's aviation sector has become an influential force on the global stage thanks to visionary leaders, strategic planning, co-ordinated execution, and strong support from our customers, business partners, and all the people of Dubai. 'When the government set up Emirates 40 years ago and we began expanding Dnata's capabilities to support the city's growth, we had a clear mission – be the best at what we do; and deliver value to Dubai, our stakeholders, and the communities we serve.' Sheikh Ahmed added: 'For 2024-25, the Emirates Group has raised the bar to set new records for profit, revenue, and cash assets. Through the year, Emirates and Dnata were able to move quickly to meet the strong demand for air transport services across markets and win over customers – thanks to our non-stop investments in our people, in building partnerships, and in delivering great products and services.' In 2024-25, the Group collectively invested US$3.8 billion (Dh14.0 billion) in new aircraft, facilities, equipment, companies, and the latest technologies to support its growth plans. The Group's total workforce grew by 9 percent to 121,223 employees, its largest size ever, as Emirates and Dnata continued recruitment activity around the world to support its expanding operations and boost its future capabilities. Commenting on the outlook for 2025-26, Sheikh Ahmed said: 'We enter the year ahead with excitement and optimism. Our excellent financial standing enables us to continue building on and scaling up from our successful business models. While some markets are jittery about trade and travel restrictions, volatility is not new in our industry. We simply adapt and navigate around these challenges. 'Emirates will strengthen our network connectivity with the expected delivery of 16 A350s and 4 Boeing 777 freighters in 2025-26, providing much-needed capacity to meet customer demand. Our retrofit programme will continue apace to provide our customers the latest Emirates products and a more consistent experience across our A380, 777 and A350 fleet. 'Work is already underway at the new Al Maktoum International airport (DWC) and broader development around Dubai South. Our planning teams are working closely with Dubai airports and other entities to design and deliver the future of aviation and the best possible travel experiences. 'We've set high targets for ourselves, but I am confident that our talented workforce and Dubai's winning formula will empower the Emirates Group to forge an even brighter future, and deliver even more value to the people, cities and communities we serve.' Emirates Airline Emirates' total passenger and cargo capacity grew 4 percent to 60.0 billion ATKMs in 2024-25, recovering to near pre-pandemic levels. During the year, Emirates launched two new destinations – Bogotá and Madagascar; restarted flights to Phnom Penh, Lagos, Adelaide and Edinburgh; and strengthened services to 21 other destinations to meet rising demand. By 31 March, Emirates served 148 cities in 80 countries and territories. Emirates also grew its partnerships to 33 codeshare and 118 interline partners, providing customers smooth access to over 1,750 cities beyond its network. 'One of the key benefits of operating an airline in the Gulf is that you don't have to deal with trade unions or labour unions – so the airlines could keep the operating costs low through its own salary and remuneration packages as no one is there to question those,' said an aviation expert, requesting anonymity. 'Having said that, Emirate's employee packages are higher compared to other private sector businesses. Other than that, it is perhaps the best managed airline group in the world and the results are a testament to this.' The first Airbus A350 aircraft joined Emirates' fleet this year, bringing added capacity for the airline to serve customer demand with its latest products, including the popular Premium Economy Class and a new-generation inflight entertainment system. By 31 March, Emirates had 4 A350s in its fleet flying to Edinburgh, Ahmedabad, Bahrain, Colombo, Kuwait and Mumbai. With ongoing delays in new aircraft deliveries, Emirates added 99 more aircraft to its retrofit programme which will now see 219 aircraft go through a full cabin refresh at a total investment of US$ 5.0 billion. At 31 March, Emirates' order book had 314 aircraft pending delivery, including 61 A350s, 205 Boeing 777x, 35 787s, and 13 777Fs. Total fleet count at the end of March was 260 units, with an average fleet age of 10.7 years. By strategically deploying capacity to serve surging demand across markets, Emirates' total revenue for the financial year increased 6 percent to US$ 34.9 billion (Dh127.9 billion). Currency fluctuations and devaluations in some of the airline's major markets negatively impacted the airline's profitability by Dh718 million (US$196 million). Emirates saw a record operating cash flow of Dh40.8 billion (US$11.1 billion) in 2024-25, which reflects its strong commercial performance and enables the airline to grow the business going forward. Total operating costs increased by 4 percent from last financial year. Fuel and employee cost were the airline's two biggest cost components in 2024-25, followed by cost of ownership (depreciation and amortisation). Fuel accounted for 31 percent of operating costs compared to 34 percent in 2023-24. The airline's fuel bill decreased slightly to Dh32.6 billion (US$8.9 billion) compared to Dh34.2 billion (US$9.3 billion) the previous year, as lower average fuel price (down 10 percent) including hedging gains offset a higher uplift of 5 percent from increased flying. With robust appetite for travel across customer segments, the strength of its global network, and strong customer preference for its products, Emirates hit a new record profit after tax of Dh19.1 billion (US$5.2 billion), outstripping last year's Dh17.2 billion (US$4.7 billion) result with an exceptional profit margin of 14.9 percent. This is the best performance in the airline's history and in the airline industry for the reporting year 2024-25. Emirates carried 53.7 million passengers (up 3 percent) in 2024-25, with seat capacity up by 4 percent. The airline reports a Passenger Seat Factor of 78.9 percent, a marginal decline from 79.9 percent last year. Passenger yield remained consistent at 36.6 fils (10.0 US cents) per Revenue Passenger Kilometre (RPKM). Emirates continued to invest in delivering ever better customer experiences. In addition to a range of inflight service enhancements in 2024-25, Emirates invested Dh63 million in its lounge product, opening two new lounges at London Stansted and Jeddah to bring the total number of dedicated Emirates Lounges globally to 41; and renovated existing facilities in Bangkok and Paris. This is part of a long-standing strategy to provide premium customers with signature experiences at key stations across the network, not only at its hub. The airline also launched its Emirates Chauffeur-Drive Service to Riyadh, expanding this signature service to over 70 cities. Emirates SkyCargo delivered an outstanding year, carrying 2.3 million tonnes of goods around the world, up 7 percent from the previous year as the delivery of 2 new Boeing 777 freighters and 2 wet-leased 747 freighters unlocked capacity to serve surging demand for air transport. Ably navigating the ongoing challenges in global logistics, the cargo division reported a solid revenue of Dh16.1 billion (US$4.4 billion), contributing 13 percent to Emirates' total revenue. See also Dubai's Stock Market Outpaces GCC Peers Amid Sectoral Strength Emirates placed orders for 10 more Boeing 777Fs, a significant investment to strengthen its cargo division's position at the centre of global trade and logistics. Emirates SkyCargo has 13 freighters on order and expects to operate a fleet of 21 freighters by December 2026. At the end of March, Emirates' SkyCargo's total freighter fleet stood at 10 Boeing 777Fs. Under Emirates Group companies and subsidiaries, Emirates Flight Catering (EKFC) and MMI/Emirates Leisure Retail (ELR) reported notable results in 2024-25. EKFC grew revenue from external customers by 11 percent to Dh1.1 billion (US$293 million), uplifting 15.4 million meals during 2024-25 for its 114 airline customers in Dubai. It committed Dh160 million to expand Linencraft's facility to handle 400 tonnes of laundry per day by 2026, cementing its place as the region's leading laundry services provider. EKFC also launched its gourmet B2C offering, Foodcraft, to consumers in the UAE. MMI/ELR posted solid results with revenue growing 6 percent to Dh3.1 billion (US$847 million). During the year, both businesses saw strong customer demand across their portfolio, and extended their footprint with F&B and retail stores opening in 22 new locations, including MMI's first retail outlet in Sri Lanka. With a strong cash balance and operating cash flow, Emirates fully met all contracted obligations during 2024-25, including aircraft pre-delivery payments and financing liabilities as they become due, utilising our cash reserves which stood at Dh49.7 billion as of 31 March. Emirates also fully repaid its US$750 million Corporate Bond which was issued in 2013 with a 12-year term. Listed on the Irish Stock Exchange, this bond was the first senior unsecured amortising bond issued by an airline, and the airline's diligence in honouring the payment schedule further enhances its credit worthiness in global financial markets. During the year, Emirates continued to deploy simple forward contracts to hedge against Brent crude oil and refining margins; and used long-term interest rate hedges to mitigate the impact of interest rate fluctuations. With significant currency exposure due to its global presence, Emirates continued to manage foreign exchange rate risk through currency options, forward contracts, and natural hedges. Its systematic approach improved cash flow predictability against volatile market shifts, reinforcing financial stability. In 2024-25, the airline's risk management programme generated savings of Dh1.1 billion (US$287 million). Dnata Dnata increased its profit before tax by 2 percent to Dh1.6 billion (US$430 million) in 2024-25, with all business divisions reporting a solid performance, and notable contributions from its airport operations and catering and retail divisions. Dnata's total revenue increased by 10 percent to hit a new record of Dh21.1 billion (US$5.8 billion), driven by increased flight and travel activity across the world, particularly in its major markets: Australia, Europe, the UAE, UK, and US. Dnata's international businesses account for 75 percent of its revenue, unchanged from the previous year. Expanding its capabilities and capacity to meet customer needs and its future growth ambitions, Dnata's investments in 2024-25 amounted to Dh579 million (US$ 158 million). Significant investments during the year included: new electric and hybrid ground support equipment for its airport operations as part of its environmental strategy, new catering facilities in Australia, and new cargo facilities in the UAE. In 2024-25, Dnata's operating costs increased by 10 percent to Dh19.7 billion (US$5.4 billion), in line with expanded operations in its Airport Operations, Catering & Retail, and Travel divisions. Dnata's cash balance declined by Dh468 million to Dh3.7 billion (US$1.0 billion), primarily due to dividend payments to its owner, ICD; plus the funding of investments and debt repayments. The business saw a positive operating cash flow of Dh2.7 billion (US$735 million) in 2024-25, reflecting the substantial improvements in revenue. Revenue from Dnata's Airport Operations, including ground and cargo handling increased to Dh9.9 billion (US$2.7 billion). Key customer wins in 2024-25 include: long-term contracts secured with Etihad Airways and British Airways in the USA; and the long-term extension of an agreement for dnata to manage Jordan Flight Catering Company Ltd which delivers world-class culinary services to over 30 airlines in Amman. Revenue from Dnata's Travel Services division grew by 11 prcent to Dh3.9 billion (US$1.1 billion), with strong contributions from its UK travel business and Imagine Cruising, its cruise holidays business. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Arabian Post
06-05-2025
- Business
- Arabian Post
Asian hospitality brands giving Western hotel chains run for their money
By Saifur Rahman When Ho Kwon Ping, a young Stanford drop-out, saw an abandoned tin mine in Thailand's Bang Tao Bay in Laguna Phuket area in 1984, he didn't know what to do with it as the land that was dimmed 'useless' by its former occupiers. It was a patch of a waste land with no activities then. In his Stanford days, he was a firebrand social activist. He was thrown out the university for protesting along with Black Student Union against a Nobel Laureate who had very negative views on the Black community. Ho Kwon Ping was then 32 in 1984 when he along his wife Claire Chiang visited the abandoned tin mine in the place on the Bang Tao Bay that is now popularly known as Laguna Phuket, wondering around the place. The only plus point was its location – next to a patch of a pristine beach on the Andaman Sea, part of the Indian Ocean. Although unsure what to do, he nevertheless decided to buy the entire patch of land that currently measures up to 1,000 acres, perhaps at a throwaway price. Undecided about its future, he then decided to plant trees on the abandoned tin mine and left it there for a good decade. Ten years later, the landscape had changed and turned into a green oasis. Ho Kwon Ping then decided to start a resort project and aptly named it Banyan Tree. Instead of hotel rooms that generate rent per square metre per night, he developed a line-up of luxury villas with private swimming pool, separate bath tub in the open while having separate shower rooms – something that was unheard of – at least till then. This is how Banyan Tree was established in 1994 as a premium resort in the Laguna Beach area of Phuket province in Thailand. It was the first resort to introduce the private pool villa concept in the hospitality industry. Through Banyan Tree, Ho Kwon Ping had re-designed and perhaps re-invented the leisure tourism industry long dominated by the global hospitality chains developed by the Western world. Banyan Tree Laguna consists of 218 villas that commands US$500 average daily rate (ADR) with 78 per cent average occupancy throughout the year. Since then, Banyan Tree remained the flagship development of the group's business with more than 10 hospitality brands evolving across the world in the last three decades with about 100 hotels and resorts currently under the management of the group that has recently been rebranded as Banyan Group. 'Over the years, our pioneering spirit has driven us to define and refine our design-led experiences. Meanwhile, our multi-branded approach has allowed us to enter new markets, catering to diverse guest segments while consistently delivering on our core pillars of sustainability and wellbeing,' Ho Kwon Ping, Founder and Chairman of Banyan Group, says 'Re-introducing ourselves as Banyan Group in 2024, we embraced the diversity of our portfolio and our multi-brand identity, planting seeds for progress in the years to come. 'In 2024, we opened a record 17 new hotels, including our first Banyan Tree in Japan, Banyan Tree Higashiyama Kyoto. We now operate eight hotels across five brands in Japan and are expecting more multi-brand openings in the pipeline. 'In China, we continued to maintain a strong pipeline, innovating to capture the rebounding domestic market. By establishing multi-brand complexes like Banyan Tree and Garrya Yangcheng Lake in Suzhou, and Banyan Tree and Angsana Tengchong in Yunnan, we are catering to a range of travellers seeking varied experiences within a single destination. 'We also signed new agreements to launch branded residences in Madrid and Dubai. This enables us to leverage branded residences as a significant driver of growth and market expansion, broaden our customer base, unlock additional revenue streams, and build brand equity for Banyan Group within untapped market segments.' Banyan Group is the first Thailand property developer listed on the stock exchange of Thailand and Singapore. The group's overall revenue increased by 16 per cent year on year to S$380.6 million (US$295.24 million), with Residences setting yet another new record of S$328.8 million (US$255.05 million) in new sales. Core operating profit also increased to S$69 million (US$53.52 million), up 43 per cent compared to 2023. Stuart Reading, Managing Director of Banyan Group Residences, says, 'Banyan Tree resort is part of a greater vision by our founder Mr Ho Kwon Ping, to transform not only the 1,000 acquired land on the Laguna Phuket beach area, but to change the face of the global hospitality business with new ideas emerging from oriental Thai hospitality.. 'With success, he continued to build hotels and resorts and went on to add more through management contracts and franchisee agreements. Today, with around 100 hotels and resorts operated by 12 hospitality brands, 66 spas and three golf courses across 25 countries in the world, Banyan Group has definitely made its mark in the global tourism industry.' Ho Kwon Ping went on launch Angsana Hotels and Resorts – another fine example of Thai hospitality. Banyan Group's hotels globally operate under different brands – Banyan Tree, Angsana, Laguna, Cassia, Dhawa, Garrya, Homm, Baynan Tree Escape, Banyan Tree Veya, and Folio. This makes Banyan Group one of the most versatile hospitality group's in the world offering a wide array of hospitality solutions – especially the contemporary Thai spas that brings the ancient healing and wellbeing concepts to the tourists in the most effective manner. Ho Kwon Ping says, 'With the increased focus on our core pillars of wellbeing and sustainability, we are ramping up efforts to weave our wellbeing philosophy into the guest experience as well as our associates' experience.' Tourism has been a great contributor to Thai economy with 60,000 registered hotels including 1,130 five-star hotels and resorts with 700,000 hotel rooms serving more than 35 million tourists annually. There are around 12,000 hotel rooms under construction in Phuket province alone. Last year, 35.6 million tourists visited Thailand, generating 1.8 trillion Thai Baht or US$55.11 billion that directly contributed to the Southeast Asian country's US$526 billion GDP, representing 10.47 per cent of its economy. Thailand is the second largest economy in Southeast Asia, with a population of 72 million people. 'This year, the projection for the tourism industry is, 40 million international arrivals,' Stuart Reading, an Australian national who has been serving Banyan Group for the last two decades, says. 'Phuket, with a population of 500,000 residents remains the second most visited city in Thailand with 9.89 million international tourists, second only to Bangkok that catered to 22.78 million tourists last year. 'Tourism represents more than 50 per cent of Phuket's GDP while real estate represents between 5 to 10 per cent. Our hotel industry has a capacity of 45,000 guest rooms and the airport's annual passenger handling capacity is around 18 million passengers per year. The airport connects Phuket to 80 cities with direct flights. ' Global tourism industry historically has long been dominated by the popular Western hotel chains, such as Sheraton, Hilton, Marriott, Hotel Inter-Continental, Le Meridien, Hyatt, Ritz-Carlton, etc. They still dominate, although the Asians and Arabs have also started to develop international hospitality chains since the 1980s. The hotel and resort industry market size reached US$1.5 trillion worldwide in 2023, still dominated by the Western brands. Like Banyan Group in Thailand, Dusit Thani, Anantara Hotels and Resorts, Shangri La Hotels, Taj Hotels and Oberoi Hotels in India, Jumeirah Group, Address Hotels and Resorts in Dubai, Rotana Hotels and Resorts in Abu Dhabi are some of the Asian hospitality chains that have been giving the Western hotel chains a run for their money. The global hotel industry is dominated by major hospitality groups that continue to expand aggressively. The fastest-growing segments include luxury, extended stay, and lifestyle brands, while emerging markets like Asia-Pacific and the Middle East are key areas for future development. Three of the world's top ten hotel management groups belong to China, while the United States lead the overall industry. Jin Jiang International that operates Golden Tulip, Radisson Blu and Park Plaza brands, is the world's largest hotel chain by the number of properties, with nearly 12,000 hotels worldwide. Based in Shanghai, this state-owned hospitality giant has a significant presence in China, while also expanding into Europe, the Americas, and Asia. Through acquisitions like Louvre Hotels Group and Radisson Hotel Group, Jin Jiang strengthened its international portfolio. Banyan Group operates a hotel in Saudi Arabia's new tourism hotspot Al Ula region and one in Dubai. It has recently opened fully-functional sales operation in the UAE and Saudi Arabia, to sell its luxury Phuket properties to the investors in the Middle East who could benefit from 4-6 per cent annual returns and while avail free stay in their units for a period between 1-2 months a year. Banyan Group expects to release US$1 billion worth of new luxury residential real estate in Thailand's Phuket over the next two to three years, as demand for quality homes on the island remains high. Over the next 5-10 years this could extend to US$4.5 billion or more. The sales team executives have been deployed in both the UAE and Saudi Arabia, amid a surge of international interest in luxury real estate in Phuket from all over the world. 'The initial response has been encouraging, and we've already had quite a few investors come over to view our properties,' Stuart Reading says. 'Since there's been a noticeable increase in visitors to Phuket from the Middle East region in the past couple of years, attracted by the agreeable climate, the high-quality lifestyle, safety, and the welcoming international nature of the community, we thought the time was right now to start developing the market.' Last year, Banyan Tree Group rebranded to Banyan Group to reflect the fact that the Group now has 12 global brands of which Banyan Tree is the flagship. Banyan Group has also been an important driving force in the development of Phuket first as a tourism destination, and more recently as a place for second homes. Set against the stunning backdrop of the Andaman Sea, on a 5 kilometre stretch of Bang Tao's pristine beach, Laguna Phuket has evolved to become Asia's leading integrated resort, home to seven world-class hotels, premium facilities as well as now some 3,000 branded residences, many on or close to the beach. Spanning over 1,000 acres of lush parkland and located just a 30-minute drive from Phuket International Airport, Laguna Phuket has an award-winning 18-hole golf course, luxury spas, exceptional dining options, and countless activities to create unforgettable experiences. Its hotels and condos are set against picturesque lagoons and are interconnected by boats. Up to 2024, a total of around 3,000 residential units have been built in Laguna Phuket, with another 700 now under development. A further 10,000 units are eventually envisaged for Laguna Phuket and Laguna Lakelands over the next 5-10 years. Banyan Group expects to release another 5,000 residential units for sale over the next 3-4 years at Laguna Phuket and the neighbouring Laguna Lakelands, a pioneering eco-friendly residential community set in one square kilometre of lush tropical forests and lakes adjacent to Laguna Phuket, which was launched last year. Laguna Lakelands will eventually be Phuket's largest dedicated residential community. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Free Malaysia Today
28-04-2025
- Politics
- Free Malaysia Today
Bomb explosion kills 7 in Pakistan's northwest
The vast majority of deadly attacks in Pakistan last year took place near the western border with Afghanistan. (EPA Images pic) PESHAWAR : At least seven people were killed and 21 others were wounded today when a bomb exploded at the guest house of a pro-government tribal elder in Pakistan's turbulent northwest, police said. The explosion took place in the town of Wana, the capital of South Waziristan district in the rugged Khyber Pakhtunkhwa province that shares a border with Afghanistan, as locals gathered for a jirga, or a council of elders. 'A local tribal elder Saifur Rahman was holding a jirga at his guest house when a bomb exploded, killing at least seven people while injuring 21 others,' Usman Khan, a local police official, told AFP. 'The nature of the blast is not clear yet,' he added. A senior administration official also confirmed the incident and the death toll to AFP, adding that Rahman was taken to the hospital. South Waziristan is one of seven remote districts bordering Afghanistan that remained a rebel stronghold for years, where the military has conducted several operations. Islamabad has encouraged tribal vigilante forces, known locally as peace committees, for years to defend their villages against rebels, including Pakistan's Taliban. Most have been disbanded following a dramatic improvement in security across the country after several military operations, the last of which was launched in 2014. Pakistan is grappling with a broad uptick in insurgency since the Afghan Taliban's return to power in Kabul in 2021. Islamabad claims rebels are now taking shelter in Afghanistan as they prepare attacks. Last year was the deadliest in nearly a decade in Pakistan, according to the Centre for Research and Security Studies in Islamabad, with the vast majority of the attacks near the western border with Afghanistan.
