DNP ... Feb10

Wing Tai, together with its regional network of listed companies, DNP (in Malaysia) and USI Holdings Ltd (in Hong Kong), form WingTai Asia which has a growing presence in property investment and development in key Asian cities.

WingTai Asia has to date completed about 70 projects comprising mid-range to high-end properties in Singapore, Hong Kong and Malaysia.

With the economy showing signs of recovery following the global financial crisis, the group foresees an exciting year ahead and has lined up several new launches.

The group is embarking on a few high-end property developments in Malaysia and is also looking to acquire some land within the Klang Valley. DNP’s latest high-end project in Malaysia is the Verticas Residensi in Bukit Ceylon, Kuala Lumpur. The group may embark on another high-end property project in Jalan U-Thant, Kuala Lumpur, in the third quarter 2010.

DNP has completed a number of high-end projects in the country which include the mixed development Sering Ukay in Hulu Kelang and The Meritz condominium in Kuala Lumpur. It also has projects in Penang and Johor Baru.

WingTai Asia also owns serviced residences in Malaysia – Lanson Place condominium at Ampang Hilir and Lanson Place Ambassador Row in Kuala Lumpur – which are operated under its hospitality brand Lanson Place. Lanson Place, which has its head-office in Hong Kong, also owns serviced residences in China and a hotel in Hong Kong.