HONG LEONG GROUP'S FIRST RETAIL VENTURE IN CHINA OPENS ITS DOORS

KUALA LUMPUR, Dec 11 (Bernama) -- Guoson Mall, Hong Leong Group's first retail
venture in China via its property arm GuocoLand China Ltd (GLC), opened its
doors last week.

Although retail business is not without its risk as investments rarely see
immediate return, this does not discourage GLC Managing Director Violet Lee from
venturing into the potentially lucrative market.

Lee described the investment as one that "figures into the company’s long term
strategies in China".

"As part of Hong Leong Group, we plan to continue expanding throughout China in
every operational aspect," she said in a statement here.

The Guoson Mall which opened in Shanghai on Dec 4, is part of Guoson Centre
which was recently voted the "Best International Mixed-use Development" at the
2010 International Property Awards in London.

"We believe that only by operating and managing our own developments, could we
manage to control the quality by ourselves -- that is why we decided to
introduce our renowned Guoman Hotels into Guoson Centre," Lee said.

She was referring to the Guoman Shanghai Hotel located in the Guosan Centre in
Shanghai which opened recently and Guoman Hotel Beijing located in the Beijing
Guosan Centre which is due to open in July next year.

She said that following the Guoman Hotels, the opening of Guoson Mall will be a
start of GLC’S long-term plan to ultimately start a successful retail operation
and to provide the community with a "living mall" where people can spend a whole
day in the mall without getting bored.

"We hope we can be creative and innovative, and contribute new ideas to shopping
for shopping by itself should be a lifestyle.

"There would be constant changes in the mall. It’s a living thing on its own so
that people can enjoy the life within the mall," said Lee who initiated the
Guoson Centre development.

The statement said that GuocoLand China’s commitment to the future can be
further deduced from the staggering price tags of its ambitious Guoson Centre
project -- a combined RMB15 billion (RM$7.82 billion).

With the recent acquisition of Shanghai’s Plot 9 (near Guoson Centre) for RMB3
billion (RM1.42 billion), GLC has increased its total investment value in China
to US$3.5 billion (RM$10.5 billion) with an increasing land bank of 2.5 million
sq metre.

Guoson Mall consists of two phases. The completed Phase 1 complex features
40,000 sq metre of retail space while Phase 2, still under construction, will
house 90,000 sq metre.

Following the opening ceremony, Phase 2 received a major uplift as major
Japanese retail brand UNY signed a landmark contract with Guoson Mall that will
occupy a massive 40,000 sq mere of retail space.

This milestone event introduces the internationally-recognised Japanese brand --
currently with 235 stores worldwide -- to the Chinese market and could
potentially aid Guoson Mall’s second phase in securing future labels of similar
renown, GLC said.

Adopting the signature slogan, "World Acquired, Style Inspired,"
cosmopolitan Guoson Mall is designed to be a fully engaging experience that embraces
fashion, lifestyle, dining, and entertainment.

This is reflected in its diverse mix of quality leading international brands
housed by a wide variety of fashion outlets, international boutiques, children’s
retail, and eclectic food & beverage venues.
-- BERNAMA