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SPH, Perennial Real Estate tie up to collaborate on events
SINGAPORE Press Holdings (SPH) and Perennial Real Estate Holdings (Perennial) have entered into a strategic partnership in which the two companies will collaborate on events to drum up revenue.
A Memorandum of Understanding (MOU) was inked on Tuesday by SPH's deputy chief executive officer Anthony Tan and Perennial's CEO Pua Seck Guan at The Capitol Kempinski Hotel Singapore.
Under the MOU, SPH and Perennial will capitalise on each other's strengths, including SPH's content creation capabilities and Perennial's property assets. The MOU also allows both companies to conceptualise and organise co-branded events and explore revenue-generating events such as seminars, awards and conferences.
Events organised as a result of the MOU will be held at Perennial-owned or Perennial-managed venues, including Capitol Singapore, CHIJMES, Chinatown Point, TripleOne Somerset, AXA Tower and House of Tan Yeok Nee, all of which are situated within the central business district.
Some upcoming SPH events under this partnership include Singapore Book Fair 2019, UFM100.3's Global Chinese Golden Chart Awards Presentation, SPH 35th Anniversary Charity Concert, as well as The Straits Times' Mind and Body 360 Health Management Seminar. UFM100.3's U1000 Music Countdown was also held recently at Capitol Singapore's Outdoor Plaza.
Aside from venue partnership and sponsorship, SPH and Perennial also said that they will tap their customer bases to explore joint marketing initiatives. They could also work together with third party content generators.
Media and property group SPH owns newspapers such as The Business Times, as well as a 70 per cent stake in SPH Reit and runs a regional events arm. Perennial is an integrated real estate and healthcare company, headquartered and listed in Singapore.
Mr Tan said: "We are glad to be in this strategic collaboration with Perennial which has been a strong supporter of our past events. With our strength in media content creation across multiple media platforms, we can help develop powerful brand associations with our audiences and generate footfall traffic through our events at Perennial's portfolio of quality assets."
Mr Pua added: "The partnership with SPH will bring both our customers' offline experience to a whole new level and further enhance the vibrancy of our assets. Our easily accessible venues, each with its distinctive positioning and offerings, coupled with SPH's content development and outreach capabilities, will allow us to jointly deliver a myriad of quality and engaging events, programmes and activities to cater to different segments of the market."
Shares in SPH closed unchanged at S$2.48, while shares in Perennial ended the day's trading at 65 Singapore cents, down 1.5 Singapore cents.