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HONG KONG, Sept 24, 2015 - (ACN Newswire) - Hsin Chong Construction Group Ltd. ("Hsin Chong Construction Group" ; Stock code:0404.HK) today has signed a Memorandum of Understanding ("MOU") with Sapphire Holdings Group ("Sapphire"), a renowned healthcare group from Australia. The signing of the MOU forges a strategic alliance for both enterprises to expand into the aged care market in Mainland China and Asia.
 | | Hsin Chong Construction Group in Strategic Alliance with Sapphire Holdings Group to Expand into Aged Care Market |
The signing ceremony was held in Hong Kong, with the attendance of members of the Board and management teams of both signatories, representatives of the Liaison Office of the Central People's Government in the HKSAR, the Hong Kong Trade Development Council and the Australian Trade Commission.
Under the MOU, Hsin Chong Construction Group and Sapphire will form a strategic cooperation. In view of the immense opportunities and advantages in the aged care living market in China and Asia, the cooperation is to develop national grade aged care residential areas and introduce the international health management concepts of Sapphire. At the same time, the cooperation aims to provide superior care and nursing care services covering medical, leisure and health management services to senior citizens in Mainland China and Asia.
Joseph CHOI Kin Hung, Chief Executive Officer Designate of Hsin Chong Construction Group, said at the signing ceremony, "We initially plan to allocate some of the land under our large-scale property development projects to build national-grade aged care residential areas. Our integrated development project La Viva in Tieling, Shenyang and property projects in Shandong and Foshan all have sufficient space to plan and build aged care residential areas." The cooperation is to also explore related development opportunities in other areas of Mainland China and Asia.
Sapphire is a leading integrated aged care living management group based in Australia. Possessing two renowned aged care living management company brands, Blue Cross and Sapphire, Sapphire is committed to providing superior nursing care services as well as a dignified and comfortable living environment for elderly members of the population.
Tony BATTLE, Chairman of Sapphire, said, "As the businesses of Hsin Chong Construction Group and Sapphire can complement each other, we are set to create a world-class brand for aged care living services."
The Chinese government has placed high priority on improving the lives of its senior citizens. According to the data released by National Bureau of Statistics in China, as at the end of 2014, seniors citizens aged above 60 reached 212 million people, some 15.5% of its total population. It is forecast that by 2050 the global elderly population will reach 2,020 million, including 480 million elderly in China, nearly one-fourth of the global elderly population. Taking note of its ageing population, the Chinese government is allocating greater efforts to this area, Hsin Chong Construction Group and Sapphire are confident that this is the most suitable time to jointly develop the aged care living market.
About Hsin Chong (http://www.hsinchong.com)
Founded in 1939, Hsin Chong Construction Group Ltd. ("Hsin Chong") (Stock Code: 0404.HK) is one of Asia's longest-standing construction and property groups, providing comprehensive construction, property and related services. Hsin Chong's scope of construction services has grown to cover the entire spectrum of building, civil engineering, electrical and mechanical engineering, project and construction management, interiors and special projects, railway systems, property development and asset management services.
Hsin Chong is on the HKSAR approved list of contractors for public works (Group C - for contracts of any value) under the buildings, roads and drainage, site formation and waterworks categories, and has taken part in a wide range of construction projects in Hong Kong, including bridge and railways, mass residential developments, Grade-A commercial buildings, hotels and leisure projects, modern hospitals and university facilities.
From its firm foundation in Hong Kong, Hsin Chong has also applied its proven expertise to Macau, Chinese mainland and overseas regions successfully. Besides, Hsin Chong has been actively expanding its property development business on the Chinese mainland. The Company aims to develop a series of modern and integrated new towns in the second and third-tier cities in China offering local residents a new kind of lifestyle and international community, thereby raising their quality of life and introducing an unprecedented living experience.
About Sapphire Holdings Group
Based in Australia, Sapphire Holdings Group ("Sapphire") has an objective of changing the way in which the Aged Care industry was viewed and operated. Starting with just one residence the company has now grown into one of the most successful and highly regarded Aged Care operators in Victoria, Australia. Sapphire is focused on delivering exceptional Care, Lifestyle and Surroundings. Its promise is to listen and put residents first, offering a complete range of care needs across its residences. Sapphire enjoys an excellent reputation as a leading provider of Aged Care services. All Sapphire residences meet industry accreditation and certification requirements and are designed to specialised architectural standards. With an ageing population and a changing regulatory environment, Sapphire's strong leadership, management and service delivery means it is well positioned to help our residents thrive in their golden years. This is the Sapphire Care Difference.
Media Enquiries:
Strategic Financial Relations Limited
Cindy Lung Tel: (852) 2864 4867 Email: cindy.lung@sprg.com.hk
Betty Dong Tel: (852) 2114 4861 Email: betty.dong@sprg.com.hk
Antonio Yu Tel: (852) 2114 4319 Email: antonio.yu@sprg.com.hk
Fax: (852) 2527 1196
Topic: Press release summary
Source: Hsin Chong Construction Group Ltd.
Sectors: Daily News
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From the Asia Corporate News Network
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