Far East Orchard Limited (“FEOrchard” or the “Company”) had previously announced on 12 December 2012 (“the Initial Announcement”) a proposed joint venture with Toga Pty Ltd (“Toga”) to explore the formation of a joint venture vehicle to take advantage of growth opportunities in the hotel real estate market in Australia and New Zealand (the “Joint Venture”).
Far East Orchard Limited (Far East Orchard) is a member of Far East Organization, Singapore’s largest private property developer. Incorporated as Ming Court Limited in 1967, the Company came under Far East Organization in 1987 and was renamed Orchard Parade Holdings Limited in 1991. In July 2012, as part of a corporate restructuring, the Company adopted its new name of Far East Orchard Limited to better reflect its close alignment with its substantial shareholder and to leverage on the “Far East” brand. Far East Orchard is listed on the Mainboard of the Singapore Exchange since 1968.
An established developer, Far East Orchard delivered a number of successful residential, commercial and hospitality developments. It is currently developing euHabitat, a first-of-its-kind integrated residential development located in the eastern part of Singapore. Far East Orchard has also successfully developed The Floridian, The Nexus, Glendale Park, Regent Grove, Seasons View, Kew Green, Kew Residencia and The Manor Houses.
Redefining itself through a strategic transformation of the business in 2012, Far East Orchard has expanded into new complementary business lines in hospitality management and healthcare real estate segments.
The Company’s hospitality arm, Far East Hospitality, operates the largest hospitality portfolio in Singapore comprising eight hotels and nine serviced residences, as well as the Sri Tiara Residences in Kuala Lumpur, Malaysia. Far East Hospitality has a stable of distinctive brands “Village”, “Oasia” and “Quincy”. Far East Orchard is a vertically integrated hospitality operator with the unique capability to both develop its own hospitality properties as well as manage a significant hospitality management business. A new addition to the serviced residence portfolio is currently underway via a redevelopment project in Kuala Lumpur.
Far East Orchard also owns a portfolio of medical suites in Singapore's premier medical hub of Novena. These purpose-built medical suites in Novena Medical Center and Novena Specialist Center are conceptualised to set the benchmark for a new generation of healthcare buildings with five star quality finishes, advanced technology and modern infrastructure, for medical specialists. Far East Orchard intends to be the premier private owner, operator and landlord of healthcare space in Singapore.
Today, Far East Orchard is a diversified business that is focused on property development, hospitality management and providing world class healthcare space.
Further to its announcement on 26 November 2012, Mainboardlisted Far East Orchard Limited (“FEOrchard” or the “Company”) has today entered into a joint venture implementation agreement (“JVIA”) with The Straits Trading Company Limited (“STC”). Under the JVIA, FEOrchard and STC shall together pursue and conduct hospitality management and hospitality-related businesses and invest in hospitality-related real estate through the joint venture company.
The Board of Directors of Far East Orchard Limited (“FEOrchard” or the “Company”) announced today the appointment of Mr Koh Boon Hwee, 62, as a Non-Executive Director and Non-Executive Chairman of FEOrchard with effect from 1 January 2013.
Far East Orchard Limited ("FEOrchard" or the "Company") has signed a non-binding memorandum of understanding (MOU) with Toga Pty Limited ("Toga Group") to explore the establishment of a Joint Venture (JV) Company in Australia which will own the hospitality management business of the Toga Group and hospitality assets in Australia ("Proposed Joint Venture").
Far East Orchard Limited (“FEOrchard” or the “Company”) has signed a non-binding memorandum of understanding (MOU) with The Straits Trading Company Limited (“STC”) to explore the proposed acquisition of STC’s entire hospitality management business (which includes the trade mark rights to the “Rendezvous” and “Marque” brands). STC’s hospitality management business currently operates hotels in Singapore, Australia, New Zealand and China.
The Board of Directors of Far East Orchard Limited (formerly known as "Orchard Parade Holdings Limited") ("the Company") wishes to announce the appointment of Mr Arthur Kiong Kim Hock as an Executive Director and Chief Executive Officer of Hospitality of the Company with effect from 1 September 2012.
Orchard Parade Holdings Limited (OPHL or the Company) would like to announce that the Company has officially changed its name to Far East Orchard Limited (Far East Orchard) today.