Singapore / Melaka, Malaysia, Dec 27, 2021 - (ACN Newswire) - SGX Catalist-listed Hatten Land Limited ("Hatten" or the "Company" and together with its subsidiaries, the "Group") is pleased to announce that its wholly-owned subsidiary Hatten Edge Pte. Ltd. ("Hatten Edge") has entered into a Comprehensive Collaboration Agreement ("CCA") with global leading information and communications technology (ICT) provider Huawei International Pte. Ltd. ("Huawei International").
- Utilising their respective capabilities in technology, operational resources and business networks, Huawei and Hatten will jointly explore and develop business opportunities in key areas such as Cloud Computing, Virtual World solutions, Digital Entertainment, Data Centres, Renewable Energy, Fintech Infrastructure, among others
- The partnership is a testament of Hatten's ongoing efforts and commitment in its strategic pivot and it will be another important catalyst to accelerate its digital and blockchain business ventures
- Huawei endeavours to share its world-class expertise and cutting-edge technology in cloud and enterprise intelligence with Hatten to co-design and co-market innovative cloud products and services, including gaming cloud solutions
- Through this partnership, Hatten will focus on the joint development of eco-friendly data centres in Melaka to support Hatten's ongoing digital initiatives and cater to the surging demand of data centres from cloud service providers in the region
- Both companies will also endeavor to develop large scale solar facilities and other renewable energy opportunities in the region that will be managed by the Group
Under the CCA, both companies will jointly explore and develop opportunities in cloud computing and enterprise intelligence, renewable energy, data centres, fintech infrastructure in Melaka and the region by utilising their respective capabilities in technology, operational resources and business networks.
Due to the fast-paced digital transformation and impact of the pandemic, Southeast Asia has seen phenomenal growth in digital entertainment, including the gaming and esports sector of which the Malaysian gaming market alone is expected to show an annual growth rate (CAGR 2021-2026) of 9.60%, resulting in a projected market volume of US$676m by 2026. Tapping on the high growth and profitability potentials of the digital entertainment industry, Huawei endeavours to share its world-class expertise and cutting-edge technology in cloud and enterprise intelligence with Hatten to co-design and co-market innovative cloud products and services, including gaming cloud solutions. Currently, HUAWEI CLOUD is one of the world's fastest growing major cloud service provider.
Likewise in the cloud computing sector, the Southeast Asian cloud market is expected to reach US$40.32 billion by 2025. The Hatten-Huawei partnership will also focus on the joint development of eco-friendly data centres in Melaka to support Hatten's ongoing digital initiatives and cater to the surging demand of data centres from cloud service providers in the region.
In addition, both companies aim to work on potential opportunities of large-scale solar facilities in the region, thereby augmenting the Group's sustainability efforts. As a start, Hatten's first PV project of installing over 6,000 solar panels on the roof of the largest mall in Melaka, Dataran Pahlawan Melaka Megamall, in 2022, will be equipped by Huawei's smart inverters.
The Company has substantial hospitality and commercial property businesses and assets in Melaka, a UNESCO World Heritage Site which is a major tourist attraction in Southeast Asia. Hatten has recently had undertaken a major strategic review to re-purpose its malls and to pivot its business model towards blockchain-related and digital economy trends as well as opportunities in digital assets.
Hatten's digital opportunities include building "Virtual" world, starting with a digital twin city of Melaka ("Digital Melaka"), which will contain NFTs, tokens and other digital assets using blockchain and initiatives. HUAWEI CLOUD will endeavour to support Hatten's strategies and initiatives in blockchain, NFT, 'green' and 'clean' digital assets, custodian services and other digital asset creation and monetisation activities by providing its latest research and innovations on industrial-grade infrastructure architecture designed for financial institutions.
With the partnership targeted towards the regional markets, there are strong opportunities to leverage on both Huawei and Hatten's business networks to harness the emerging trends and business opportunities in Asia's digital economy.
Dato' Colin Tan, Executive Chairman and Managing Director of Hatten, said: "The Huawei-Hatten partnership is a strong and uniquely complimentary combination. Huawei's expertise in innovation, technology and complex digital product integrations, and Hatten's established track record and business network in Malaysia and the region will allow us to build the next generation of cloud solutions, digital platforms and renewable energy solutions.
Together, working as one team, we aim to unlock the full potential of digital transformations and business opportunities within the new digital economies in Asia."
"HUAWEI CLOUD is excited to be working with Hatten to support its digital related ventures. We believe our technology and innovation will help with the multifaceted needs Hatten has for its strategic pivot," says Rex Lei, Managing Director of HUAWEI CLOUD Singapore.
About Hatten Land Limited
Hatten Land Limited is one of the leading property developers in Malaysia specialising in integrated residential, hotel and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a leading brand in Malaysia with core businesses in property development, property investment, hospitality, retail and education.
Hatten Land Limited began trading on the Catalist board of SGX-ST on 28 February 2017 after the completion of the reverse takeover of VGO Corporation Limited.
For more information, visit: www.hattenland.com.sg
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