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Zawya
a day ago
- Business
- Zawya
Greater Bay Area Residential Market Largely Stabilized, Although Sentiment in Q2 2025 Marred by Geopolitical Risks
Logistics Portfolio Investment Transactions Gain Attention, Neighborhood Retail Assets Becoming Sought After Greater Bay Area (GBA) cities continued to extend property-related easing policies from last year through the 1H 2025 period, with a focus on alleviating financial pressure on the supply side and supporting overall residential market sentiment However, transaction activity slowed from April 2025, impacted by uncertainties from the trade tariff war, with 1H 2025 GBA primary residential sales numbers growing slightly at 3% y-o-y Total investment volume in the GBA commercial real estate (CRE) market reached RMB24.7 billion in 1H 2025, accounting for more than 31% of the overall Chinese mainland investment market The industrial/logistics sector's share of total GBA CRE investment expanded notably with several large-sized logistics portfolio deals recorded, while neighbourhood retail malls also captured interest HONG KONG SAR - Media OutReach Newswire – 29 July 2025 – Global real estate services firm Cushman & Wakefield today published its Greater Bay Area Residential and Commercial Real Estate Investment Market 1H 202 5 Review and 2H Outlook. Local governments across GBA cities continued the real estate policies introduced last year through the 1H 2025 period to continue to support a stable market recovery, including easing restrictions on the demand side and alleviating financial pressures on the supply side. From January to March, primary residential market transaction numbers and prices demonstrated growth. Regardless, market sentiment has been weakened since April by uncertainties surrounding the trade tariff war, again prompting potential home buyers to adopt a wait-and-see approach, and resulting in a pause in the upward momentum in home prices. GBA primary residential sales numbers through 1H 2025 recorded mild y-o-y growth of 3%. As for the CRE investment market (large-sized deals at >RMB100 million), property owners have adjusted their expectations. The industrial/ logistics sector accounted for more than 50% of the total GBA investment consideration in 1H 2025, with several large-sized logistics portfolio deals recorded. At the same time, the market has seen increasing interest in the neighborhood retail sector, where assets with stable rental yields are gaining investors' attention. We expect to see more high-quality retail assets transacted in the second half of the year. GBA Residential Market Following the Central Government's reiteration of the need to halt the real estate market decline and spur a stable recovery in its 2025 work report, both the Central Government and GBA local governments continued to extend market-easing real estate policies from last year through the 1H 2025 period. Measures on the demand side, such as "four cancellations" and "four reductions" were extended. Authorities also focused on alleviating financial pressures on the supply side, aiming to strengthen overall market sentiment and boost buyer confidence. Key initiatives included promoting the launch of special-purpose bonds to reclaim and acquire idle land and unsold residential units. Notably, Guangzhou became the first Tier-1 city in the country to fully abolish the "three restrictions" in housing policy. The GBA primary residential market showed resilience in the Q1 period despite being the traditional off-season. Monthly transaction numbers from January to March expanded on the same period last year. However, starting from April, greater uncertainties surrounding the trade tariff war weighed on overall economic performance and dampened residential market sentiment. In turn, more potential home buyers adopted a wait-and-see approach. New home sales in April fell by 16% from March, while May and June remained largely stable. The GBA primary residential market recorded approximately 137,000 transactions in the 1H 2025 period, up slightly at 3% y-o-y, with Tier-1 cities such as Guangzhou and Shenzhen showing significant growth. However, comparing with the significant recovery following last year's introduction of aggressive easing policies, the 1H 2025 total transaction number was down 26% from the 2H 2024 level (Chart 1). Chart 1: GBA First-Hand Residential Sales Source: CREIS, Cushman & Wakefield In terms of home prices, primary market prices are more swayed by the quality level of newly launched projects. First-hand residential prices in the nine GBA mainland cities showed mixed performances in 1H 2025. Developers generally adopted more realistic pricing strategies to attract buyers, actively offloading inventory to improve cash flow. For secondary home prices, which better reflect current underlying trends, and using Shenzhen as an example, the Cushman & Wakefield Shenzhen mid-to-high-end secondary home price index strengthened by 4.0% from the Q4 2024 level. However, as market sentiment turned more cautious from April, overall prices experienced downward pressure and recorded a q-o-q decline of 4.4% in Q2, bringing the year-to-date adjustment to a modest -0.5% (Chart 2). Chart 2: Shenzhen Mid-to-High-End Secondary Home Price Index Source: Cushman & Wakefield Alva To, Cushman & Wakefield's Vice President, Greater China & Head of Consulting, Greater China said, "With central and local governments continuing to relax demand-side policies, and with the central government actively promoting the development of "Good Housing," we expect pent-up demand from both first-home buyers and upgraders to be further released. Through the past six months, local governments have accelerated the implementation of special-purpose bonds to reclaim and acquire idle land and unsold units, helping to alleviate developers' financial pressures and promote supply-demand balance in the housing market. These efforts should also support potential homebuyers' confidence and, in turn, a stable recovery in the GBA residential market. In the 1H 2025 period, new home sales numbers stood out in Guangzhou and Shenzhen, indicating that high-quality residential units, in prime locations in first-tier cities, at reasonable prices continue to be sought after despite market volatility. "However, uncertainties surrounding trade tariff policies contributed to weaker sentiment in the GBA residential market in Q2, and the restoration of market confidence is expected to take time. We believe that, even if China-U.S. trade tensions show sign of easing in 2H 2025, lingering uncertainty may keep buyers cautious through the Q3 period, and residential transaction numbers are not likely to strengthen significantly. Nonetheless, fundamental housing demand from first-time homebuyers and upgraders is likely to provide continuous support to the GBA residential market. We forecast average monthly new home sales to record around 27,000 to 28,000 units in 2H 2025, bringing the full-year 2025 transaction number to approximately 300,000 units. Meanwhile, home prices are still facing downwards pressure, with a full-year price correction estimated in the range of a 0%–5% decline." GBA CRE Investment Market The GBA CRE property investment market remained resilient in the 1H 2025 period, with total investment volume reaching RMB24.7 billion, marking a 108% increase compared to the same period last year, and accounting for around 31% of total investment volume in the Chinese mainland (see Chart 3). Among the 35 transactions, 31 were at less than RMB1 billion, reflecting that investors remain cautious on big-ticket transactions. Chart 3: CRE Investment Transactions in the GBA (2020 - 1H 2025) Source: Cushman & Wakefield By property type, industrial and logistics assets accounted for the largest share of total CRE property investment in the GBA by transaction value in 1H 2025, with 14 related deals making up more than half of the total investment volume (see Chart 4). Within the industrial and logistics transactions, Tier-2 cities including Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Zhaoqing, and Huizhou, recorded a combined transaction volume of RMB9.6 billion, comprising both logistics portfolios and individual warehouse deals. Dongguan, classified as a Tier-2 city, stands out as a top choice for logistics investment due to its strategic location, making it the most desirable logistics hub within the GBA and a key focus for investors. Investment interest in the neighborhood retail sector also continued to heat up in the 1H period. Assets with stable rental yields and mature operations are favored by the market, attracting a diverse range of buyers. A total of nine retail sector transactions were recorded in the GBA in 1H 2025. Chart 4: Share of Asset Type in the GBA CRE Investment Market (by Transaction Volume) Source: Cushman & Wakefield Charli Chan, Cushman & Wakefield's Deputy Managing Director, Capital Markets, China commented, "Looking ahead to 2H 2025, among the various types of investment properties, we believe the logistics and commercial sectors will continue to outperform. With the ongoing expansion of cross-border e-commerce, demand for logistics assets has remained strong and continues to attract investor attention. However, the GBA's warehouse market is expected to see a heavy new supply pipeline over the next two to three years, which will likely lead to a rise in vacancy rates and exert downward pressure on rents. Moreover, since the onset of the China–U.S. trade tensions, market sentiment has become more volatile. Logistics asset owners have become more pragmatic, allowing for greater room in price negotiations. This has helped narrow the expectation gap between buyers and sellers, potentially facilitating more transactions in logistics and warehouse facilities. We believe institutional and long-term investors will seize this opportunity to hunt for value. On the other hand, we expect to see more transactions involving high-quality commercial assets in the 2H 2025 period. Benefiting from the spillover of Hong Kong residents' spending power and a shift toward mid- to lower-end consumption, well-performing shopping centers and community retail malls are gaining market traction and interest from potential investors. However, mall owners in Tier-1 cities tend to be more reluctant to sell, whereas owners in Tier-2 cities are more pragmatic, making retail projects in mature communities the preferred investment sectors for insurance companies and real estate funds." Please click here to download photos. Photo 1: Alva To, Cushman & Wakefield's Vice President, Greater China & Head of Consulting, Greater China (Left), and Charli Chan, Cushman & Wakefield's Deputy Managing Director of Capital Markets, China (Right) Hashtag: #Cushman&Wakefield The issuer is solely responsible for the content of this announcement. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2023, the firm reported revenue of $9.5 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit or follow us on LinkedIn ( Cushman & Wakefield
Malay Mail
a day ago
- Business
- Malay Mail
Greater Bay Area Residential Market Largely Stabilized, Although Sentiment in Q2 2025 Marred by Geopolitical Risks
Logistics Portfolio Investment Transactions Gain Attention, Neighborhood Retail Assets Becoming Sought After Greater Bay Area (GBA) cities continued to extend property-related easing policies from last year through the 1H 2025 period, with a focus on alleviating financial pressure on the supply side and supporting overall residential market sentiment However, transaction activity slowed from April 2025, impacted by uncertainties from the trade tariff war, with 1H 2025 GBA primary residential sales numbers growing slightly at 3% y-o-y Total investment volume in the GBA commercial real estate (CRE) market reached RMB24.7 billion in 1H 2025, accounting for more than 31% of the overall Chinese mainland investment market The industrial/logistics sector's share of total GBA CRE investment expanded notably with several large-sized logistics portfolio deals recorded, while neighbourhood retail malls also captured interest GBA Residential Market Chart 1: GBA First-Hand Residential Sales Chart 2: Shenzhen Mid-to-High-End Secondary Home Price Index GBA CRE Investment Market Chart 3: CRE Investment Transactions in the GBA (2020 - 1H 2025) Chart 4: Share of Asset Type in the GBA CRE Investment Market ( by Transaction Volume ) HONG KONG SAR - Media OutReach Newswire – 29 July 2025 –today published itsLocal governments across GBA cities continued the real estate policies introduced last year through the 1H 2025 period to continue to support a stable market recovery, including easing restrictions on the demand side and alleviating financial pressures on the supply side. From January to March, primary residential market transaction numbers and prices demonstrated growth. Regardless, market sentiment has been weakened since April by uncertainties surrounding the trade tariff war, again prompting potential home buyers to adopt a wait-and-see approach, and resulting in a pause in the upward momentum in home prices. GBA primary residential sales numbers through 1H 2025 recorded mild y-o-y growth of 3%. As for the CRE investment market (large-sized deals at >RMB100 million), property owners have adjusted their expectations. The industrial/ logistics sector accounted for more than 50% of the total GBA investment consideration in 1H 2025, with several large-sized logistics portfolio deals recorded. At the same time, the market has seen increasing interest in the neighborhood retail sector, where assets with stable rental yields are gaining investors' attention. We expect to see more high-quality retail assets transacted in the second half of the the Central Government's reiteration of the need to halt the real estate market decline and spur a stable recovery in its 2025 work report, both the Central Government and GBA local governments continued to extend market-easing real estate policies from last year through the 1H 2025 period. Measures on the demand side, such as "four cancellations" and "four reductions" were extended. Authorities also focused on alleviating financial pressures on the supply side, aiming to strengthen overall market sentiment and boost buyer confidence. Key initiatives included promoting the launch of special-purpose bonds to reclaim and acquire idle land and unsold residential units. Notably, Guangzhou became the first Tier-1 city in the country to fully abolish the "three restrictions" in housing GBA primary residential market showed resilience in the Q1 period despite being the traditional off-season. Monthly transaction numbers from January to March expanded on the same period last year. However, starting from April, greater uncertainties surrounding the trade tariff war weighed on overall economic performance and dampened residential market sentiment. In turn, more potential home buyers adopted a wait-and-see approach. New home sales in April fell by 16% from March, while May and June remained largely stable. The GBA primary residential market recorded approximately 137,000 transactions in the 1H 2025 period, up slightly at 3% y-o-y, with Tier-1 cities such as Guangzhou and Shenzhen showing significant growth. However, comparing with the significant recovery following last year's introduction of aggressive easing policies, the 1H 2025 total transaction number was down 26% from the 2H 2024 level (Chart 1).Source: CREIS, Cushman & WakefieldIn terms of home prices, primary market prices are more swayed by the quality level of newly launched projects. First-hand residential prices in the nine GBA mainland cities showed mixed performances in 1H 2025. Developers generally adopted more realistic pricing strategies to attract buyers, actively offloading inventory to improve cash flow. For secondary home prices, which better reflect current underlying trends, and using Shenzhen as an example, the Cushman & Wakefield Shenzhen mid-to-high-end secondary home price index strengthened by 4.0% from the Q4 2024 level. However, as market sentiment turned more cautious from April, overall prices experienced downward pressure and recorded a q-o-q decline of 4.4% in Q2, bringing the year-to-date adjustment to a modest -0.5% (Chart 2).Source: Cushman & Wakefieldsaid, "With central and local governments continuing to relax demand-side policies, and with the central government actively promoting the development of "Good Housing," we expect pent-up demand from both first-home buyers and upgraders to be further released. Through the past six months, local governments have accelerated the implementation of special-purpose bonds to reclaim and acquire idle land and unsold units, helping to alleviate developers' financial pressures and promote supply-demand balance in the housing market. These efforts should also support potential homebuyers' confidence and, in turn, a stable recovery in the GBA residential market. In the 1H 2025 period, new home sales numbers stood out in Guangzhou and Shenzhen, indicating that high-quality residential units, in prime locations in first-tier cities, at reasonable prices continue to be sought after despite market volatility."However, uncertainties surrounding trade tariff policies contributed to weaker sentiment in the GBA residential market in Q2, and the restoration of market confidence is expected to take time. We believe that, even if China-U.S. trade tensions show sign of easing in 2H 2025, lingering uncertainty may keep buyers cautious through the Q3 period, and residential transaction numbers are not likely to strengthen significantly. Nonetheless, fundamental housing demand from first-time homebuyers and upgraders is likely to provide continuous support to the GBA residential market. We forecast average monthly new home sales to record around 27,000 to 28,000 units in 2H 2025, bringing the full-year 2025 transaction number to approximately 300,000 units. Meanwhile, home prices are still facing downwards pressure, with a full-year price correction estimated in the range of a 0%–5% decline."The GBA CRE property investment market remained resilient in the 1H 2025 period, with total investment volume reaching RMB24.7 billion, marking a 108% increase compared to the same period last year, and accounting for around 31% of total investment volume in the Chinese mainland (see Chart 3). Among the 35 transactions, 31 were at less than RMB1 billion, reflecting that investors remain cautious on big-ticket Cushman & WakefieldBy property type, industrial and logistics assets accounted for the largest share of total CRE property investment in the GBA by transaction value in 1H 2025, with 14 related deals making up more than half of the total investment volume (see Chart 4). Within the industrial and logistics transactions, Tier-2 cities including Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Zhaoqing, and Huizhou, recorded a combined transaction volume of RMB9.6 billion, comprising both logistics portfolios and individual warehouse deals. Dongguan, classified as a Tier-2 city, stands out as a top choice for logistics investment due to its strategic location, making it the most desirable logistics hub within the GBA and a key focus for interest in the neighborhood retail sector also continued to heat up in the 1H period. Assets with stable rental yields and mature operations are favored by the market, attracting a diverse range of buyers. A total of nine retail sector transactions were recorded in the GBA in 1H Cushman & Wakefieldcommented,"Looking ahead to 2H 2025, among the various types of investment properties, we believe the logistics and commercial sectors will continue to outperform. With the ongoing expansion of cross-border e-commerce, demand for logistics assets has remained strong and continues to attract investor attention. However, the GBA's warehouse market is expected to see a heavy new supply pipeline over the next two to three years, which will likely lead to a rise in vacancy rates and exert downward pressure on rents. Moreover, since the onset of the China–U.S. trade tensions, market sentiment has become more volatile. Logistics asset owners have become more pragmatic, allowing for greater room in price negotiations. This has helped narrow the expectation gap between buyers and sellers, potentially facilitating more transactions in logistics and warehouse facilities. We believe institutional and long-term investors will seize this opportunity to hunt for value. On the other hand, we expect to see more transactions involving high-quality commercial assets in the 2H 2025 period. Benefiting from the spillover of Hong Kong residents' spending power and a shift toward mid- to lower-end consumption, well-performing shopping centers and community retail malls are gaining market traction and interest from potential investors. However, mall owners in Tier-1 cities tend to be more reluctant to sell, whereas owners in Tier-2 cities are more pragmatic, making retail projects in mature communities the preferred investment sectors for insurance companies and real estate funds."Please click here to download 1:, Cushman & Wakefield's Vice President, Greater China & Head of Consulting, Greater China (Left), and, Cushman & Wakefield's Deputy Managing Director of Capital Markets, China (Right)Hashtag: #Cushman&Wakefield The issuer is solely responsible for the content of this announcement. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2023, the firm reported revenue of $9.5 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit or follow us on LinkedIn (
Zawya
6 days ago
- Business
- Zawya
PRCA Thailand Conference 2025 to Explore "AI: Truth, Trust and Thailand"
BANGKOK, THAILAND - Media OutReach Newswire - 24 July 2025 - As artificial intelligence redefines how stories are told, trust is built, and reputations are managed, PRCA Thailand is calling on communicators, business leaders, and curious minds to join a first-of-its-kind national conversation. The inaugural PRCA Thailand Conference will take place on 6th August 2025 at SCBx NEXT Tech, Siam Paragon, under the theme "AI: Truth, Trust and Thailand." This bilingual, half-day event offers a rare opportunity to hear from Thailand's top PR, tech, and business leaders as they unpack what AI means for the future of communication. From deepfakes and data ethics to real-world PR case studies and insights into Thai public opinion, the conference will equip attendees with fresh perspectives, practical tools, and expert guidance for navigating the AI era with clarity and integrity. At the heart of the programme is the launch of a new PRCA APAC x YouGov study, revealing how AI is already influencing trust, media, and behaviour in Thailand. The findings will be presented by Wiwat (Alee) Khamsawai and Krishkanok (Kayla) Nima of Vero. Following this, a special fireside chat will feature Media OutReach Newswire, Founder and CEO Jennifer Kok and Dr. Karine Lohitnavy, Chair of PRCA Thailand and Founder of Midas PR. As the event's Gold Sponsor, Media OutReach Newswire will lead the discussion titled 'Viva La Press Release! Old Format, New Tech.' This dynamic session will explore how digital transformation is breathing new life into the traditional press release, expanding its reach, deepening its impact, and redefining its role in today's AI-powered communications landscape. Speaker Narongyod Mahittivanicha, Founder of TWF Agency and Vice President of the Artificial Intelligence Association of Thailand, will explore how AI is transforming PR strategy at every level, from content to crisis management. Dynamic panel sessions will follow, featuring leaders from Xponential Co, Microsoft Thailand, SCBx, and Predictive, with moderation by respected industry voices including Edelman Thailand 's Vorasit Turongsomboon and digital creator Tossapol Leongsuppon. Dr. Karine Lohitnavy, Chair of PRCA Thailand and Founder of Midas PR, commented: "This conference comes at a pivotal moment for the communications industry in Thailand. AI is rapidly influencing how people perceive truth, build trust, and engage with information. Through data, discussion, and thought leadership, this event will help PR professionals, decision-makers and those on the front lines of communications, in all its forms, to better understand and respond to these shifts." Conference Details: Date: 6 August 2025 Time: 1:30 PM to 5:30 PM Venue: SCBx NEXT Tech, Siam Paragon, Bangkok The PRCA Thailand Conference 2025 highlights PRCA Thailand's commitment to promoting ethical, innovative, and locally relevant communications practices in Thailand, as well as fostering dialogue on emerging technologies that are shaping the future of the industry. For more information and tickets, visit: Hashtag: #PRCA The issuer is solely responsible for the content of this announcement. About PRCA The Public Relations and Communications Association (PRCA) is the world's largest professional PR body. We represent more than 35,000 PR professionals in 82 countries worldwide, and we are a global advocate for excellence in public relations. PRCA APAC was founded in 2018 to further our growth across the APAC region. Our mission is to create a more professional, ethical and prosperous PR industry. PRCA Thailand is building a community for PR and communications pros to level up. Through expert training and exclusive events, it helps boost skills and deliver real results. By connecting professionals and raising industry standards, PRCA Thailand is shaping the future of communications. It fuels collaboration and ensures PR's voice is heard loud and clear across Thailand's economy. PRCA Thailand
Malay Mail
6 days ago
- Business
- Malay Mail
PRCA Thailand Conference 2025 to Explore "AI: Truth, Trust and Thailand"
Date: 6 August 2025 Time: 1:30 PM to 5:30 PM Venue: SCBx NEXT Tech, Siam Paragon, Bangkok BANGKOK, THAILAND - Media OutReach Newswire - 24 July 2025 -As artificial intelligence redefines how stories are told, trust is built, and reputations are managed, PRCA Thailand is calling on communicators, business leaders, and curious minds to join a first-of-its-kind national conversation. The inaugural PRCA Thailand Conference will take place on 6th August 2025 at SCBx NEXT Tech, Siam Paragon, under the theme "AI: Truth, Trust and Thailand."This bilingual, half-day event offers a rare opportunity to hear from Thailand's top PR, tech, and business leaders as they unpack what AI means for the future of communication. From deepfakes and data ethics to real-world PR case studies and insights into Thai public opinion, the conference will equip attendees with fresh perspectives, practical tools, and expert guidance for navigating the AI era with clarity and the heart of the programme is the launch of a new PRCA APAC x YouGov study, revealing how AI is already influencing trust, media, and behaviour in Thailand. The findings will be presented byandofFollowing this, a special fireside chat will featureand. As the event's Gold Sponsor, Media OutReach Newswire will lead the discussion titled 'Viva La Press Release! Old Format, New Tech.' This dynamic session will explore how digital transformation is breathing new life into the traditional press release, expanding its reach, deepening its impact, and redefining its role in today's AI-powered communications Founder ofand Vice President of the, will explore how AI is transforming PR strategy at every level, from content to crisis panel sessions will follow, featuring leaders from, and, with moderation by respected industry voices including'sand digital creator, commented: "This conference comes at a pivotal moment for the communications industry in Thailand. AI is rapidly influencing how people perceive truth, build trust, and engage with information. Through data, discussion, and thought leadership, this event will help PR professionals, decision-makers and those on the front lines of communications, in all its forms, to better understand and respond to these shifts."Conference Details:The PRCA Thailand Conference 2025 highlights PRCA Thailand's commitment to promoting ethical, innovative, and locally relevant communications practices in Thailand, as well as fostering dialogue on emerging technologies that are shaping the future of the more information and tickets, visit: Hashtag: #PRCA The issuer is solely responsible for the content of this announcement. About PRCA The Public Relations and Communications Association (PRCA) is the world's largest professional PR body. We represent more than 35,000 PR professionals in 82 countries worldwide, and we are a global advocate for excellence in public relations. PRCA APAC was founded in 2018 to further our growth across the APAC region. Our mission is to create a more professional, ethical and prosperous PR industry. PRCA Thailand is building a community for PR and communications pros to level up. Through expert training and exclusive events, it helps boost skills and deliver real results. By connecting professionals and raising industry standards, PRCA Thailand is shaping the future of communications. It fuels collaboration and ensures PR's voice is heard loud and clear across Thailand's economy.
Zawya
7 days ago
- Business
- Zawya
3HA Capital's Final Offer Gives CosmoSteel Shareholders Opportunity to Exit Shares
All capitalised terms which are used in this press release but not otherwise defined herein shall have the meanings ascribed to them in the Offer Announcement dated 15 May 2025. Final Offer Price of S$0.25 per share. The Offeror does not intend to revise the Final Offer Price. SINGAPORE - Media OutReach Newswire - 24 July 2025 - 3HA Capital Pte. Ltd. (the "Offeror") on 23 June 2025 announced its revised final offer price to acquire all the issued ordinary shares (the "Shares") in CosmoSteel Holdings Limited ("CosmoSteel" or the "Company") (the "Final Offer"). The revised and final offer price of S$0.25 per share (the "Final Offer Price") represents a 25% increase from the initial voluntary conditional offer of S$0.20 announced on 15 May 2025. As of 7 July 2025, the Final Offer has been declared unconditional as the Minimum Acceptance Condition of the Offer (more than 50% of the total number of issued Shares, excluding Shares held in treasury) has been satisfied. The closing date for the Offer was extended from 5:30pm (Singapore time) on 14 July 2025 to 5:30pm (Singapore time) on 28 July 2025 (the "Extended Closing Date"). As of 23 July 2025, the offer has received valid acceptances in respect of nearly 229 million shares, representing approximately 87.88% of the total number of voting rights of the Company. If the Offeror receives valid acceptances pursuant to the Offer in respect of not less than 90% of the total number of voting rights, the Offeror would be entitled to exercise the right to compulsorily acquire all the Shares of shareholders who have not accepted the Offer at the Final Offer Price. The Offeror has confirmed that this is its final offer, and it does not intend to revise the Final Offer Price. Extended Closing Date The Extended Closing Date for the Offer remains unchanged at 5.30 p.m. (Singapore time) on 28 July 2025, unless extended. Shareholders who have already accepted the Offer at the initial offer price of S$0.20 per share will automatically be entitled to receive the Final Offer Price of S$0.25 per share. Those who have not yet accepted the Offer may do so by following the procedures for acceptance as set out in Appendix 1 of the Offer Document issued on 5 June 2025 and its accompanying Acceptance Forms. This press release should be read in conjunction with the full text of the Offer Announcement dated 15 May 2025, the Offer Document dated 5 June 2025, and all documents and announcement issued by or on behalf of the Offeror in relation to the Offer available on SGXNet. Shareholders should read the Company's supplemental letter dated 2 July 2025 in relation to the Offer and carefully consider the information and advice contained in that supplemental letter. RESPONSIBILITY STATEMENT The Directors of the Offeror (including those who may have delegated detailed supervision of this press release) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this press release are fair and accurate and where appropriate, no material facts have been omitted from this press release, the omission of which would make any statement in this press release misleading, and they jointly and severally accept responsibility accordingly. Where any information has been extracted or reproduced from published or otherwise publicly available sources (including, without limitation, information relating to the Group), the sole responsibility of the Directors of the Offeror has been to ensure, through reasonable enquiries, that such information is accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this press release. IMPORTANT NOTICE All statements other than statements of historical facts included in this press release are or may be forward-looking statements. Forward-looking statements include but are not limited to those using words such as "expect", "anticipate", "believe", "intend", "project", "plan", "strategy", "forecast" and similar expressions or future or conditional verbs such as "will", "would", "should", "could", "may" and "might". These statements reflect the current expectations, beliefs, hopes, intentions or strategies of the party making the statements regarding the future and assumptions in light of currently available information. Such forward-looking statements are not guarantees of future performance or events and involve known and unknown risks and uncertainties. Accordingly, actual results or outcomes may differ materially from those described in such forward-looking statements. Shareholders and investors should not place undue reliance on such forward-looking statements, and neither the Offeror nor Evolve Capital Advisory Private Limited undertakes any obligation to update publicly or revise any forward-looking statements, subject to compliance with all applicable laws and regulations and/or rules of the SGX-ST and/or any other regulatory or supervisory body or agency. Evolve Capital Advisory Private Limited is acting as the financial adviser to the Offeror in relation to the Offer. Any enquiries relating to the Offer should be directed during office hours to Evolve Capital Advisory Private Limited helpline at (65) 6241 6626. Hashtag: #3HACapital The issuer is solely responsible for the content of this announcement. 3HA Capital
