Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Asia’s leading multi-asset exchange

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Equity Bottom-Up

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<div class="content-caption">The place CEO</div>

While property and media industry veteran Fan Xianyong devises big business plans, he remains firmly grounded in the principles of integrity and prudency.
The Chief Executive Officer of SGX-listed The Place Holdings Ltd attributes these touchstones to the decades-long influence of Ji Zenghe, his partner and the Group’s Executive Chairman.
“Having worked closely with our Executive Chairman for more than 30 years, I’ve always been inspired by his core values, which have become the foundation for our Group’s reputation and growth,” Fan said.
“Being prudent compels me to consider different perspectives, and pursue continuous learning to adapt in an ever-changing environment. Integrity gives me the moral courage and ethical strength to keep promises and fulfil expectations. This in turn allows me to build and sustain trust, which is the cornerstone of any business.”
Fan, who holds a Bachelor of Engineering in Architecture from Zhengzhou University and an Executive MBA from Cheung Kong Graduate School of Business, was appointed Executive Director of the Group in October 2016, and subsequently promoted to CEO in 2018.
In October 2016, The Place Investment Group injected cash proceeds of S$93.7 million into SGX Mainboard-listed Eucon Holding Ltd via the subscription of new shares. In May 2017, after obtaining shareholder approval, the company changed its name to The Place Holdings.
“We actively pursue potential investment, collaboration and expansion projects, as well as opportunities to boost growth and enhance shareholder value,” Fan added.
Today, The Place Holdings is an investment holding company with a business model that integrates omni-channel strategies and innovative concepts - such as “new-retail” solutions - built upon three core business pillars: property development and management, cultural tourism and integrated media-related businesses.
The Place Holdings Ltd is backed by the key management team of The Place Investment Group, a multi-billion PRC conglomerate known for its extensive business portfolio in cultural tourism, integrated media, property development and management, biomedical technology investments and international trade.
One of its iconic property developments is The Place (世贸天阶), a renowned landmark within Beijing’s CBD that comprises two top-tier office buildings, a high-end retail mall, and Asia’s largest skyscreen that creates a unique and innovative consumer experience by combining fashion, entertainment and culture.
Last December, The Place Holdings and MCC Land, the unit of MCC Group, China’s largest manufacturer of steel structures, formed a strategic partnership for the construction and development of residential and commercial property projects, as well as development and management of cultural tourism initiatives.
In January, The Place Holdings further boosted its relationship with MCC Land by acquiring a 20% stake in the latter’s new mixed development project, located next to Singapore’s Tanah Merah MRT station.
With its Singapore roots, The Place Holdings is well-positioned to combine its omni-channel strategies, “new-retail” digital capabilities, and property development experience to create brand new, experiential landmarks in the city-state that can spur more dynamic retail environments.
Solid Fundamentals
Over the next three to five years, the Group expects its core pillars to drive growth, with its property development and cultural tourism businesses seen performing strongly.
“There are significant opportunities for us to infuse our proven “new-retail” innovations and retail management concepts from China to create differentiated product and service offerings in Singapore within our property activities,” Fan pointed out.
The Group’s Chief Strategy Officer, Zhang Wei, also remains confident of the city-state’s long-term prospects. “Singapore’s political stability, pro-business environment, and excellent infrastructure remain solid despite the impact of the pandemic, and will continue to attract investors from around the world,” he said.
For the Group’s cultural tourism business in China, key macro factors continue to support long-term trends. “Tourism has become an essential contributor to China’s domestic economy, and is a cornerstone of the government’s long-term goal to create a consumption-driven economy,” Zhang said.
“The emergence of an affluent middle class, and easing of movement restrictions for local and foreign visitors, are supportive of this travel boom.”
According to the China Tourism Academy, the country's tourist arrivals maintained rapid growth in 2019, with the number of domestic trips rising 8.4% year-on-year to over 6 billion. While COVID-19 has hit the industry hard, the Chinese government is stepping up efforts to reinvigorate domestic visitor arrivals.
Data from China's Ministry of Culture and Tourism is also encouraging - a total of 637 million visits were made across the country during the National Day and Mid-Autumn Festival holidays last October, representing 79% of the visits made during the same period in 2019.
Against this backdrop, the Group is looking to tap growth opportunities with the development of the Mount Yuntai Tourist Township, where its cultural tourism operations are centred.
The Mount Yuntai Scenic Area is located 70km northwest of Zhengzhou City, the capital of Henan Province, which has a catchment zone of 40 million people within an hour’s drive.
It is one of the first areas in China to be inaugurated as a UNESCO Global Geopark, and boasts the highest “5A” National Tourist Attraction rating by the Ministry of Culture &amp; Tourism. It drew 5.89 million domestic and international visitors in 2018.
“We’ve acquired a land parcel of approximately 270,500 square metres next to Mount Yuntai Scenic Area. The Group intends to develop projects and plan thematic activities that cater to the tourism and new-retail trends in this area,” Fan noted.
The area surrounding this site has undergone significant developments and the Group is in the process of changing the land zoning from commercial to residential. This will result in an increase in gross floor area, and allow the property project to be marketed to a wider group of potential buyers.
Short-Term Challenges
In the near term, however, the Group continues to grapple with the fallout from COVID-19. “Our media-related businesses have been impacted, as clients undertook fewer branding and marketing events during the year,” Zhang said.
“We’re also examining our business continuity plans to assess which procedures and solutions work best for our organisation, and to implement policies and strategies that are agile and resilient enough to respond to future crises.”
Nonetheless, Fan remains confident that the Group’s robust fundamentals will enable it to stay abreast of the competition and navigate challenges ahead.
“Recognising that culture forms the backbone of organisational health amongst the most successful of companies, we’ve set out to create a strong identity that makes us more flexible, interconnected, and purposeful in the new-normal economy,” Fan said.
What stands out in the Group’s culture are innovation and operational excellence - two key elements that differentiate every business from its competitors.
“We believe our people want to be part of something bigger than themselves, so a significant part of what we do is to give them a reason to care, change, innovate or set an example. They are empowered to make the right decisions to help our business harness relevant opportunities as and when they appear, so that the Group can grow and prosper.”
Not surprisingly, there’s much to keep him up at night. “Business continuity and sustainability are issues that are always at the back of my mind,” Fan admitted.
“We aim to pioneer new solutions for sustainable development, while continuing to shape our business responsibly, and improve our operating performance. We’re also accountable to our shareholders, who rely on our operations to drive value creation.”
Outside the office, Fan usually turns to his books, reports and articles for fresh insight. “Reading gives me different perspectives on various topics, and it’s a good way to spark new concepts and ideas.”
Another source of inspiration is feedback from the Group’s teams, customers and partners. “All of that spurs me on to work harder and dream bigger, so we can continue to create value and be relevant to our stakeholders.” &nbsp;
The Place Holdings Ltd 
Listed on SGX Mainboard, The Place Holdings is an investment holding company with three core business pillars of (i) property development and property management activities, (ii) cultural tourism with “new retail” business concept, and (iii) integrated media-related businesses with management and operation rights. The Group is backed by the key management team of China’s The Place Investment Group, a multi-billion-dollar conglomerate that has established a strong track record for its extensive businesses in tourism, media, property management, biomedical technology investments and international trade.
The company website is: <a href="http://www.theplaceholdings.com/" target="_blank" rel="noopener">www.theplaceholdings.com</a> Click&nbsp;<a href="https://www.sgx.com/securities/equities/E27" target="_blank" rel="noopener">here&nbsp;</a>for the company's StockFacts page. For the year ended 31 December 2020 financial results, click&nbsp;<a href="https://links.sgx.com/1.0.0/corporate-announcements/0UPKNS53H5M0RRNK/650234_TPHL%20-%20Press%20Release%20FY2020.pdf" target="_blank" rel="noopener">here</a>.
About&nbsp;kopi-C: the Company brew
Text: Jennifer Tan-Stanisic Photo: Company file kopi-C&nbsp;is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations. For previous editions of&nbsp;kopi-C: the Company brew,&nbsp;please click&nbsp;<a href="https://www.sgx.com/research-education/market-dialogues" target="_blank" rel="noopener">here</a>. &nbsp; For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to&nbsp;<a href="https://www.sgx.com/jennifer.t@sgx.com" target="_blank" rel="noopener">jennifer.t@sgx.com</a>.


The place CEO

While property and media industry veteran Fan Xianyong devises big business plans, he remains firmly grounded in the principles of integrity and prudency.
The Chief Executive Officer of SGX-listed The Place Holdings Ltd attributes these touchstones to the decades-long influence of Ji Zenghe, his partner and the Group’s Executive Chairman.
“Having worked closely with our Executive Chairman for more than 30 years, I’ve always been inspired by his core values, which have become the foundation for our Group’s reputation and growth,” Fan said.
“Being prudent compels me to consider different perspectives, and pursue continuous learning to adapt in an ever-changing environment. Integrity gives me the moral courage and ethical strength to keep promises and fulfil expectations. This in turn allows me to build and sustain trust, which is the cornerstone of any business.”
Fan, who holds a Bachelor of Engineering in Architecture from Zhengzhou University and an Executive MBA from Cheung Kong Graduate School of Business, was appointed Executive Director of the Group in October 2016, and subsequently promoted to CEO in 2018.
In October 2016, The Place Investment Group injected cash proceeds of S$93.7 million into SGX Mainboard-listed Eucon Holding Ltd via the subscription of new shares. In May 2017, after obtaining shareholder approval, the company changed its name to The Place Holdings.
“We actively pursue potential investment, collaboration and expansion projects, as well as opportunities to boost growth and enhance shareholder value,” Fan added.
Today, The Place Holdings is an investment holding company with a business model that integrates omni-channel strategies and innovative concepts - such as “new-retail” solutions - built upon three core business pillars: property development and management, cultural tourism and integrated media-related businesses.
The Place Holdings Ltd is backed by the key management team of The Place Investment Group, a multi-billion PRC conglomerate known for its extensive business portfolio in cultural tourism, integrated media, property development and management, biomedical technology investments and international trade.
One of its iconic property developments is The Place (世贸天阶), a renowned landmark within Beijing’s CBD that comprises two top-tier office buildings, a high-end retail mall, and Asia’s largest skyscreen that creates a unique and innovative consumer experience by combining fashion, entertainment and culture.
Last December, The Place Holdings and MCC Land, the unit of MCC Group, China’s largest manufacturer of steel structures, formed a strategic partnership for the construction and development of residential and commercial property projects, as well as development and management of cultural tourism initiatives.
In January, The Place Holdings further boosted its relationship with MCC Land by acquiring a 20% stake in the latter’s new mixed development project, located next to Singapore’s Tanah Merah MRT station.
With its Singapore roots, The Place Holdings is well-positioned to combine its omni-channel strategies, “new-retail” digital capabilities, and property development experience to create brand new, experiential landmarks in the city-state that can spur more dynamic retail environments.
Solid Fundamentals
Over the next three to five years, the Group expects its core pillars to drive growth, with its property development and cultural tourism businesses seen performing strongly.
“There are significant opportunities for us to infuse our proven “new-retail” innovations and retail management concepts from China to create differentiated product and service offerings in Singapore within our property activities,” Fan pointed out.
The Group’s Chief Strategy Officer, Zhang Wei, also remains confident of the city-state’s long-term prospects. “Singapore’s political stability, pro-business environment, and excellent infrastructure remain solid despite the impact of the pandemic, and will continue to attract investors from around the world,” he said.
For the Group’s cultural tourism business in China, key macro factors continue to support long-term trends. “Tourism has become an essential contributor to China’s domestic economy, and is a cornerstone of the government’s long-term goal to create a consumption-driven economy,” Zhang said.
“The emergence of an affluent middle class, and easing of movement restrictions for local and foreign visitors, are supportive of this travel boom.”
According to the China Tourism Academy, the country's tourist arrivals maintained rapid growth in 2019, with the number of domestic trips rising 8.4% year-on-year to over 6 billion. While COVID-19 has hit the industry hard, the Chinese government is stepping up efforts to reinvigorate domestic visitor arrivals.
Data from China's Ministry of Culture and Tourism is also encouraging - a total of 637 million visits were made across the country during the National Day and Mid-Autumn Festival holidays last October, representing 79% of the visits made during the same period in 2019.
Against this backdrop, the Group is looking to tap growth opportunities with the development of the Mount Yuntai Tourist Township, where its cultural tourism operations are centred.
The Mount Yuntai Scenic Area is located 70km northwest of Zhengzhou City, the capital of Henan Province, which has a catchment zone of 40 million people within an hour’s drive.
It is one of the first areas in China to be inaugurated as a UNESCO Global Geopark, and boasts the highest “5A” National Tourist Attraction rating by the Ministry of Culture &amp; Tourism. It drew 5.89 million domestic and international visitors in 2018.
“We’ve acquired a land parcel of approximately 270,500 square metres next to Mount Yuntai Scenic Area. The Group intends to develop projects and plan thematic activities that cater to the tourism and new-retail trends in this area,” Fan noted.
The area surrounding this site has undergone significant developments and the Group is in the process of changing the land zoning from commercial to residential. This will result in an increase in gross floor area, and allow the property project to be marketed to a wider group of potential buyers.
Short-Term Challenges
In the near term, however, the Group continues to grapple with the fallout from COVID-19. “Our media-related businesses have been impacted, as clients undertook fewer branding and marketing events during the year,” Zhang said.
“We’re also examining our business continuity plans to assess which procedures and solutions work best for our organisation, and to implement policies and strategies that are agile and resilient enough to respond to future crises.”
Nonetheless, Fan remains confident that the Group’s robust fundamentals will enable it to stay abreast of the competition and navigate challenges ahead.
“Recognising that culture forms the backbone of organisational health amongst the most successful of companies, we’ve set out to create a strong identity that makes us more flexible, interconnected, and purposeful in the new-normal economy,” Fan said.
What stands out in the Group’s culture are innovation and operational excellence - two key elements that differentiate every business from its competitors.
“We believe our people want to be part of something bigger than themselves, so a significant part of what we do is to give them a reason to care, change, innovate or set an example. They are empowered to make the right decisions to help our business harness relevant opportunities as and when they appear, so that the Group can grow and prosper.”
Not surprisingly, there’s much to keep him up at night. “Business continuity and sustainability are issues that are always at the back of my mind,” Fan admitted.
“We aim to pioneer new solutions for sustainable development, while continuing to shape our business responsibly, and improve our operating performance. We’re also accountable to our shareholders, who rely on our operations to drive value creation.”
Outside the office, Fan usually turns to his books, reports and articles for fresh insight. “Reading gives me different perspectives on various topics, and it’s a good way to spark new concepts and ideas.”
Another source of inspiration is feedback from the Group’s teams, customers and partners. “All of that spurs me on to work harder and dream bigger, so we can continue to create value and be relevant to our stakeholders.” &nbsp;
The Place Holdings Ltd 
Listed on SGX Mainboard, The Place Holdings is an investment holding company with three core business pillars of (i) property development and property management activities, (ii) cultural tourism with “new retail” business concept, and (iii) integrated media-related businesses with management and operation rights. The Group is backed by the key management team of China’s The Place Investment Group, a multi-billion-dollar conglomerate that has established a strong track record for its extensive businesses in tourism, media, property management, biomedical technology investments and international trade.
The company website is: www.theplaceholdings.com  Click&nbsp;here&nbsp;for the company's StockFacts page.  For the year ended 31 December 2020 financial results, click&nbsp;here.
About&nbsp;kopi-C: the Company brew
Text: Jennifer Tan-Stanisic Photo: Company file  kopi-C&nbsp;is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations.  For previous editions of&nbsp;kopi-C: the Company brew,&nbsp;please click&nbsp;here. &nbsp;  For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to&nbsp;jennifer.t@sgx.com.

The Place Holdings: Innovating With Omni-Channel Strategies