Indonesia launches railway service from Jakarta to Soekarno-Hatta International Airport

Indonesia inaugurated Soekarno-Hatta Airport Rail Link (“Rail Link”), a new rail route that connects Jakarta to Soekarno-Hatta International Airport, reducing the travel time to downtown Jakarta from over two hours to 55 minutes. The new railway service, with a price tag of IDR 5 trillion (US$370 million), is a 34-kilometre route that links the airport to Manggarai Station in South Jakarta. Currently, as Manggarai Station is under renovation, Sudirman Baru station serves as the temporary terminus for the city centre. Rail Link will be fully operational next year with a total of five stops, stretching over 37 kilometres and utilising existing tracks of Jakarta’s commuter lines. Carrying 272 passengers per trip and operating 42 single trips per day, tickets are sold at a flat price of IDR 70,000 (US$5). The new rail service, already linked to the airport’s Skytrain service and expected to be integrated with other public transportation networks in the city, is expected to alleviate the worsening gridlock to and from the airport.

Manila-based AyalaLand set to expand Seda brand

Manila-based AyalaLand Hotels and Resorts Corporation (AHRC) has announced plans to expand its Seda brand from its current inventory of 1,409 rooms among seven hotels to 3,500 rooms among 15 hotels by 2019. Following the opening of Seda Lio in El Nido, Palawan in the first half of 2018, AHRC is planning to inaugurate its Seda brand in locations such as Makati (Circuit Makati), Taguig City (Arca South), Cebu (Cebu Business Park), Quezon City (Ayala North Exchange), and Bay Area, Paranaque City within the next two years. Further developments will be focused primarily in Metro Manila and Cebu-Mactan areas. In line with the company’s expansion plan, AHRC has announced the rebranding of Cebu City Marriott Hotel to Seda Hotel in 2018, as AHRC and Marriott International Hotels conclude their 20-years of partnership.

Mövenpick Hotels and Resorts accelerate expansion with Vietnam and Philippines signings

Mövenpick Hotels and Resorts (“Mövenpick”) will increase their presence in Asia with dual signings in Vietnam and the Philippines. The Mövenpick Resort Lang Co, the brand’s sixth property in the pipeline for Vietnam, will be the hotel chain’s debut in Lang Co and will provide 148 guestrooms, suites and villas. With its prime location on Vietnam’s central coast, the resort, slated to open in Q4 2018, will be located close to Danang, Hoi An and Hue. Elsewhere in the Philippines, the Mövenpick Hotel & Residences Quezon City, the brand’s third property in the country, represents Mövenpick’s debut in Metro Manila and will provide 350 guestrooms and suites as well as 250 residences. Scheduled to open in Q4 2021, the hotel will be situated in Manila’s commercial centre, near Ninoy Aquino International Airport.

Myanmar-based Memories Group debuts on Singapore Exchange

Memories Group Limited (“Memories”), a spin-off of tourism-related assets of Singapore-based Yoma Strategic Holdings Limited, Myanmar-based First Myanmar Investment Company Limited, and Exemplary Ventures Limited, has made its debut on the Singapore Exchange via a reverse takeover of SHC Capital Asia. A sum of 42.6 million new company placement shares and 7.4 million vendor placement shares raised S$10.65 million in gross proceeds at S$0.25 each. Memories is the first modern tourism-related business focused in Myanmar and operates a series of businesses including two lodges, Balloons Over Bagan, and Asia Holidays Travel Agency. With its debut, Memories became the first Myanmar tourism-focused company to list on a foreign exchange and also the first company to debut on the Singapore Exchange in 2018.

Absolute Share Price Performance, as on 05 January 2018