Mapletree In Joint Venture With Malaysia’s Commerce International Merchant Bankers To Form Malaysia-Based Real Estate Fund Management Company

Singapore – Mapletree today announced that it has entered into a joint venture with one of Malaysia’s leading merchant banks, Commerce International Merchant Bankers Berhad (CIMB)’s wholly-owned subsidiary, CIMB Real Estate Sdn Bhd (“CIMB RE”), to form a real estate fund management company called CIMB Mapletree Management Berhad (CMM).

Mapletree will hold a 40% stake in the Malaysia-based joint venture company through its wholly owned subsidiary, Mapletree Capital Management. The other 60% will be held by CIMB RE. The joint venture company will develop and manage real estate funds in Malaysia.

The first fund to be established and managed by CMM will be the CM-1. CM-1 will be a closed-end fund with a target committed capital of MYR 500 million (SGD 222 million). It will be seeded with an initial investment of MYR 100 million each from Mapletree and CIMB, with the balance MYR 300 million to be raised from institutional investors. CM-1 will have a charter fund life of 10 years.

CM-1’s investment approach and coverage will be opportunistic and multi-sectored, with the ability to acquire the different property types and also to invest in high-yield real estate debt instruments. CM-1 will also have the ability to invest up to 20% of its total committed capital in properties outside Malaysia.

With a growing demand from Middle Eastern investors, who are shifting their investment focus from the US and Europe to Asia, CMM will establish a separate Islamic real estate fund that will cater to these Middle Eastern investors.

As the Fund Manager, CMM will receive a base management fee tied to the size of the Fund and an incentive management fee tied to the performance of the Fund.

Yang Bahagia Dato’ Nazir Razak, Group Chief Executive of CIMB Group, said, “The joint venture brings together Malaysia’s premier investment bank and Singapore’s leading real estate and property management company. Our ambition is for CMM to be the forerunner and leading player in real estate fund management in Malaysia. We believe that there is tremendous potential in the real estate sector in Malaysia. The backdrop is of a strong macro economy, high savings rates and low interest rates. We see the availability of not only prime properties at attractive yields but also underperforming properties with attractive upside potential. We also note the growing desire of companies in Malaysia to focus on their businesses and raise capital by selling non-core assets, especially properties.”

Mr Hiew Yoon Khong, CEO of Mapletree said, “We are delighted to work with CIMB Berhad, the leader in the Malaysian capital markets, to form a Malaysia-based real estate fund management company, CIMB Mapletree Management Berhad. This collaboration brings together two partners with complementary strengths – Mapletree with our real estate knowledge and expertise, and CIMB, with its extensive local network and proven structured and corporate finance capabilities. Together, we aim to build Malaysia’s first integrated real estate fund management platform to develop high-quality property funds catering to both domestic and international institutional investors. We are confident that CM-1 and the Islamic real estate fund will fulfill an important role in supporting and participating in the development of the Malaysian real estate market.”

He further added, “This latest venture underscores Mapletree’s strategic focus to become more knowledge-based and to become a top-flight real estate capital manager in the region by utilizing both our real estate and related financial skill sets We have made it our ethos to develop effective and innovative solutions for the real estate industry and establish diverse property funds to widen the investment offerings in the sector. We see the joint venture with CIMB as key to this business strategy and CM-1 and the Islamic real estate fund as a long-term property fund platform in Malaysia.”

Media Contacts

Mapletree

Ms Shae Hung Yee

Corporate Communications Manager

Tel: DID: (65) 63776 115

Email: hyshae@mapletree.com.sg

Mr Sonny Phua

Corporate Communications Executive

Tel: DID: (65) 6377 6218

Email: sonny@mapletree.com.sg

HO CHI MINH CITY – More than 300 wildlife photography enthusiasts and birdwatchers gathered at SC VivoCity in Ho Chi Minh City at the opening and prize presentation ceremony of the ‘Wild Birds and Mammals of Vietnam’ Photography Exhibition. Now in its second year running, this year’s exhibition held from 12 to 17 October focuses on the theme of endangered birds and mammal species in Vietnam, and is jointly organised by WildTour, the Vietnam Wildlife Photography Club and BirdLife International, supported by the Ho Chi Minh City Photography Association (HOPA), and sponsored by Mapletree Investments, Canon Vietnam and Lexar. ‘Wild Birds and Mammals of Vietnam’ is a culmination of a month-long, nationwide photography competition with a focus on Vietnam’s endangered species from July 2024 to early September 2024. 

This year’s exhibition profiles wild birds and mammals in Vietnam. Vietnam supports some of the highest concentration of endangered species in Southeast Asia. Of note is Vietnam’s diversity of primates, among the most imperilled primate faunas in the world, and home to the charismatic Tonkin Snub-nosed Monkey and the Delacour’s Langur. Similarly,  Vietnam’s bird fauna is rich but threatened by habitat loss and trapping for the pet trade. ‘More than 400 images were received by our team, many of them exceptionally high-quality images of some of Asia’s rarest bird and mammal species’, observed Mr Nguyen Truong Sinh, lead organiser of the competition and chairperson of the Vietnam Wildlife Photography Club. He also chaired the judging panel with seven other experts. Dr Yong Ding Li who represents BirdLife International on the panel agreed and noted that the images received were more diverse than the inaugural competition in 2023 and reflects a rapidly growing interest in nature photography in Vietnam.

The Exhibition coincided with the World Migratory Bird Day weekend on 12 October 2024, held twice a year to celebrate the spectacular movement of birds across the globe every Spring and Autumn. Over this time, millions of migratory birds can be expected to be on their journeys across the Asian continent, moving from wetlands to wetlands along the East Asian-Australasian Flyway, including here in Vietnam. Several migratory species were featured among the exhibited images, including among them the Spoon-billed Sandpiper, Great Knot and Wallcreeper, the last an extremely rare visitor to northern Vietnam.

Mr Edmund Cheng, Chairman, Mapletree, added: “We are pleased to witness our support for environmental awareness in Vietnam gain momentum, starting from our first migratory bird event in 2023 at the wetlands of Can Gio. This commitment is influenced by Mapletree’s environment and education pillars, two of the four pillars under our Corporate Social Responsibility framework to enrich communities in markets where we operate.”

“It was great to see the high quality of submissions received from not just photographers in south Vietnam, but also from further away in Ha Noi and Da Nang. I was particularly impressed with the fantastic selection of  Vietnam’s endemic and wild birds documented in these photographs. The selection of mammals was equally impressive, with some of the best shots of the rare Cat Ba Langur. Eventually our committee of judges agreed that the Tonkin Snub-nosed Monkey image by Mr Chung Van Thanh was the best of the lot”, observed Mr Nguyen Hoai Bao, director of WildTour and chairperson of the judging panel with five other experts.  

This year’s exhibition is the fourth World Migratory Bird Day event supported by Mapletree since 2023, starting from the ‘Celebrating Migratory Birds in Vietnam’ activity organised in Can Gio wetlands by WildTour and BirdLife. In 2024, Mapletree supported the first ever Vietnam Bird Race, held at Tràm Chim National Park. The organisers and supporters of this event plan to build on the success of this year’s event and introduce new elements to attract more bird and nature enthusiasts from across Vietnam. The Vietnam Bird Race will take place annually and the next iteration is slated to be held in May 2025. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

MEDIA CONTACTS

Xabryna Kek

Assistant Manager, Corporate Communications

Mapletree Investments Pte Ltd

Tel: (65) 6377 4608

Email:xabryna.kek@mapletree.com.sg

Linus Lui

Assistant Manager, Corporate Social Responsibility

Mapletree Investments Pte Ltd

Tel: (65) 6377 6376

Email:linus.lui@mapletree.com.sg

Linus Lui

Assistant Manager, Corporate Social Responsibility

Mapletree Investments Pte Ltd

Tel: (65) 6377 6376

Email:linus.lui@mapletree.com.sg

Headquartered in Singapore, Mapletree is a global real estate development, investment, capital and property management company committed to sustainability. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistently attractive returns across real estate asset classes.

The Group manages three Singapore-listed real estate investment trusts (“REITs”) and nine private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom (“UK”) and the United States (“US”). As at 31 March 2024, Mapletree owns and manages S$77.5 billion of office, retail, logistics, industrial, data centre, residential and student accommodation properties.

The Group’s assets are located across 13 markets globally, namely Singapore, Australia, Canada, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.

For more information, please visit mapletree-dev.altis.cloud.

BirdLife International is a partnership of over 122 conservation organisations worldwide covering all continents, landscapes, and seascapes. As a leader in bird conservation, our unique local to global approach enables us to deliver high impact and long-term conservation for the benefit of nature and people. Our mission is to conserve birds, their habitats and global biodiversity, while working with people toward sustainability in the use of natural resources.
Find out more at www.BirdLife.org