Top Global develops hospitality tech
The property developer is nurturing smart solutions as a new growth engine so that it is less asset-heavy.
Add BT as a preferred source
Janice Heng
IN A bid to be less asset-heavy, property developer Top Global is nurturing a new growth engine: smart solutions, starting with the hospitality industry. From self-service check-in to dynamic pricing, some solutions are already in place at its 5footway hostels, with more in development.
But chief operating officer Jennifer Chang clarified: "We don't want to be an IT company." Nor is Top Global exiting the property business. "I don't even consider (smart solutions) as mature yet. Our revenue is still dependent on property development, mainly in Indonesia."
In the second quarter ended June 30, revenue of development properties accounted for S$10.3 million or about three-quarters of Top Global's total revenue of S$13.9 million.
TRENDING NOW
Temasek-backed Foundation Healthcare seeks to raise S$242 million in mainboard IPO
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
SGX to roll out post-trade custody model, changes to bid mechanics in July, cut board lots in October
New IPO aspirants signal renewed listing activity on SGX
