Day: October 26, 2022

SINGAPORE, Oct. 26, 2022 /PRNewswire/ — Cityneon Holdings (“Cityneon”, the “Company”/collectively with its subsidiaries, the “Group”), welcomes a fresh investment of S$150 million from 65 Equity Partners, an independently managed investment firm wholly-owned by Temasek Holdings. Cityneon concluded a round of private funding that raised S$235 million last April, and the collective funds raised will be utilized to further strengthen the Group’s growth trajectory and aspirations.

65 Equity Partners now joins existing major institutional investors and shareholders – CITIC Capital, Pavilion Capital, EDBI, Qatar’s Doha Venture Capital, and SeaTown Holdings International, veteran entrepreneur and investor Mr. Johnson Ko, as well as Executive Chairman & Group CEO Mr. Ron Tan, to form a new and strong investor base for the Group’s future.

“We are excited to partner Cityneon’s management team in its next phase of growth. Cityneon has a unique franchise, which provides IP-based immersive entertainment where it has built a leading position globally supported by a portfolio of high quality IPs. This investment aligns strategically with our mandate of supporting high growth, leading businesses led by founders and entrepreneurs, to help them scale and fulfil their growth aspirations, as well as facilitating their eventual public listing” said Tan Chong Lee, Chief Executive Officer of 65 Equity Partners.

The funds raised will be strategically channeled towards the Group’s growth strategies globally, including expanding into new markets, acquiring of new intellectual property (“IP”), building up technological capabilities via the Company’s in-house R&D department, establishing new and profitable lines of businesses, and shoring up its balance sheet.

Credit Suisse acted as the Company’s sole financial advisor in this transaction.

Rebranding to NEON

The desire to rebrand Cityneon was driven by the Group’s enhanced vision to be the global leader in immersive entertainment while maintaining the link to its 65 years of legacy. The word “NEON” stems from the Greek word, “neos”, which means “new”, and staying true to its meaning, NEON will strive to always be relevant, offering new, exciting and epic experiences for fans and families around the world.

Executive Chairman and Group CEO of Cityneon, Mr. Ron Tan said, “This successful round of funding is a testament of the confidence in the Group and affirms our trajectory of growth as a global leader in creating unique, immersive experiences for audiences worldwide. With the support of 65 Equity Partners, and our strong stable of existing shareholders, we are excited about future opportunities as we continue to strengthen our capabilities and expand the reach of our portfolio of IP experiences to accelerate growth into 2023 and beyond.

Our rebranding into NEON, encompasses our vision of the convergence of the physical and digital space, transcending geographical limitations and creating a fully integrated global experience for our visitors.”

New Chapter of Growth

Emerging from COVID-19 and with a stronger balance sheet from the capital raised over the last two years, the Company is ready for a new chapter of growth in 2023 and beyond.

The Group recently expanded into new markets and experiences, working with the governments of Peru and Egypt to present two Original Artefact IP Experiences – Machu Picchu and the Golden Empires of Peru and Ramses the Great and the Gold of the Pharaohs, showcasing authentic historical artefacts to audiences in major cities around the world as well as signing two new global IPs with Warner Bros. Themed Entertainment and entering into a strategic partnership with the Qatar Free Zones. During the year, it also saw strong performance in key exhibitions including the Jurassic World: The Exhibition in London, Ramses the Great and the Gold of the Pharaohs in San Francisco, and Marvel Avengers S.T.A.T.I.O.N. in Chile and Tokyo.

Exciting projects on the horizon include the world debut of Avatar: The Experience at the iconic Cloud Forest at Gardens by the Bay, Singapore on 28th October 2022, and Jurassic World: The Exhibition which will be launched in Japan in Spring 2023, and many more.

About Cityneon Holdings

Cityneon is a global leader in immersive experiences that holds global partnerships with billion-dollar studios such as The Walt Disney Company and Marvel Entertainment for Marvel Avengers S.T.A.T.I.O.N. and Marvel Avengers Station: Evolution and 20th Century Studios for AVATAR: The Exhibition, Hasbro for Transformers: The Experience, NBCUniversal for Jurassic World: The Exhibition, and Lionsgate for The Hunger Games: The Exhibition. It also has a partnership with Warner Bros. Themed Entertainment to produce two brand-new, unique global touring themed art experiences inspired by DC and the Wizarding World, slated to launch in 2023. The Company also partners with the governments of Peru and Egypt for their original artifact IP experiences, Machu Picchu and the Golden Empires of Peru and Ramses the Great and the Gold of the Pharaohs respectively, plus original artifact tours Pompeii: The Exhibition, Mummies of the World: The Exhibition and Victoria the T. Rex. These partnerships have enabled the Group to bring compelling experiences that leave lasting memories to visitors in more than 50 cities to date globally. For more information, please visit www.cityneongroup.com.

About 65 Equity Partners

65 Equity Partners is an independently managed wholly-owned investment platform of Temasek which focuses on providing equity and structured capital solutions to leading companies with growth aspirations, in Southeast Asia, Europe and the United States. In Singapore, the strategy of 65 Equity Partners is to provide capital solutions to local enterprises with fundamentally sound businesses to help them expand regionally or transform strategically. 65 Equity Partners will also invest in leading companies and new economy businesses in Singapore and the region, ahead of their eventual listing in Singapore. For more information, please visit www.65equitypartners.com.

For Investor Relations/Media inquiries, please contact:

Wong Yi Lin
Group Head, Corporate Relations
Cityneon Holdings
Tel: +65 6571 6338
Email: ir@cityneongroup.com

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JAKARTA, Indonesia, Oct. 26, 2022 /PRNewswire/ — PT PLN (Persero) today reaffirmed its committed to support the Indonesian government’s program to achieve the Net Zero Emission target by 2060 through various strategies, such as the development of new and renewable energy (RE)-based power plants, dieselization programs, and the retirement of steam power plants (PLTU).

Vice Minister of State-Owned Enterprises (BUMN) Pahala N. Mansury outlined how the Ministry strongly supports the efforts of PLN in achieving net zero emissions by 2060 and supports low-carbon development based on the Paris Agreement goals to reduce greenhouse gas emissions based on the National Determined Contribution (NDC) of up to 29 percent, as it is stated at the COP26 2021 meeting.

“PLN is committed to decarbonization, such as accelerating the stopping of the use of Coal Fired Power Plant (CFPP) assets, and new renewable energy programs by developing eco-friendly power plants to increase the level of NRE in the energy mix,” explained Pahala.

The President Director of PLN Darmawan Prasodjo welcomes the government’s support to make the energy transition successful, especially to follow the NZE 2060 target. Since 2021, PLN has prepared a roadmap which was presented at the COP26 Summit in Glasgow. This means, continued Darmawan, PLN is ready to lead the energy transition in Indonesia.

Darmawan said in the scenario of business as usual (BAU), Indonesia’s carbon emissions are projected to reach more than 4 billion tons of CO2e/year by 2060. There are 2 sectors with a large contribution to Indonesia’s carbon emissions, namely the electricity sector and the transportation sector.

“Without significant efforts, by 2060 the electricity sector will produce CO2e emissions of 920 million tons per year, but the intervention by PLN will prepare Indonesia to be cleaner for future generations,” he said.

To support this plan, PLN has prepared a roadmap for the retirement of steam power plants (PLTU) to achieve Net Zero Emission by 2060. The steps of retiring the coal-fired power plant of 50.1 gigawatts (GW) until 2056 will be carried out gradually, replacing them with RE power plants.

Darmawan stated that the replacement of PLTU and PLTMG with PLT RE Baseload of 1.1 GW will be carried out in 2025. And in 2030, the first phase of PLTU subcritical retirement of 1 GW will be carried out. Then in 2035, the PLTU subcritical phase 2 will retire at 9 GW. Then in 2040, PLN will operate a supercritical PLTU with a CCUS of 10 GW.

In 2045, the Ultra Super Critical PLTU will be operated by the use of CCUS (carbon capture storage) technology of 24 GW. Furthermore, in 2055, the Ultra Supercritical PLTU with the last CCUS of 5 GW will be operated.

Besides reducing the number of PLTUs, PLN is also conducting a de-dieselization program of 5,200 PLTDs in Indonesia. PLN replaces it with an RE generator based on local natural potential. Currently, the PLTD owned by PLN which will be converted to an RE power plant is around 499 MW. It will be carried out in two steps, namely Phase I in 183 locations with a capacity of 212 MW with a hybrid scheme (PLTS+Baterai+PLTD existing). As a second phase, the conversion of PLTD with a capacity of 287 MW to other RE power plants will be carried out, considering local RE sources.

“This is a big change as it converts import-based energy into cheaper domestic-based energy,” he said.

Instead, PLN will also develop an NRE-based power plant of 20.9 GW by 2030. The addition of NRE capacity is a combination of several NRE sources with a composition of 10.3 GW of hydro power (PLTA), and 10.3 GW of solar power (PLTS). 4.7 GW, geothermal power plants (PLTP) of 3.3 GW, and other RE PLTs of 2.5 GW.

PLN also innovates on the biomass co-firing program in PLTU, through the substitution of coal with biomass partially to increase the NRE mix and reducing carbon emissions. “This is a social-based energy ecosystem because the supply of biomass will be run in collaboration of all social elements,” he said. The trial implementation of the co-firing program at PLN’s PLTU starting in 2020 has been successfully carried out at 47 PLTU locations.

Darmawan added that PLN cannot achieve NZE in 2060 alone, it needs collaboration with various institutions and also political support from the government. “It takes a very large amount of capital to reach Net Zero Emission 2060 at least USD 500 billion. Therefore, we need to be supported on access to low-cost green financing, development grants and G to G pattern support,” said Darmawan.

To do so, the Ministry of SOEs is not only encouraging PLN to support the NZE effort, but also all SOEs must contribute to the initiative.

“We have to encourage renewable energy; each state-owned company cannot work separately, but must collaborate to ensure that the 2060 NZE occurs. The energy transition must be carried out based on the transformation desired by Indonesia,” said Erick Thohir, Minister of State-Owned Enterprises (SOEs), during the SOE International Conference in Bali (17/10).

– Move Aimed at Strengthening Automotive Industry-related Logistics Services –

TOKYO, Oct. 26, 2022 /PRNewswire/ — Nippon Express Europe GmbH (hereinafter “NX Europe”), a group company of NIPPON EXPRESS HOLDINGS, INC., has spun off two of its existing business locations in Morocco — the Morocco Branch and the Tanger Med Logistics Center — into subsidiary companies, newly establishing Nippon Express Morocco SARLAU this past July and Nippon Express Morocco Free Zone SARLAU in August. An opening ceremony was held in Tangier, northern Morocco, on September 26 to commemorate the founding of these two companies.

Logo: https://kyodonewsprwire.jp/img/202210128053-O1-GOAN5T75

Opening ceremony attendees: https://kyodonewsprwire.jp/prwfile/release/M103866/202210128053/_prw_PI2fl_J8K8medG.jpg

Speech by President Mitsuru Saito, NXHD: https://kyodonewsprwire.jp/prwfile/release/M103866/202210128053/_prw_PI3fl_oijj771t.jpg

– Purpose of spin-off
The Nippon Express Group’s business development in Morocco began in December 2017 in Casablanca with the creation of the Morocco Branch, which was followed by the opening of the Tanger Med Logistics Center in the Port of Tanger Med in June 2019 to provide air/ocean freight forwarding and logistics services.

Morocco is Africa’s second-largest automobile producer after South Africa, serving at the same time as a complementary country to Europe. It has for some time seen high demand for import/export, procurement, and sales logistics centered on the automobile industry, and an increasing number of automobile and automotive parts manufacturers are setting up plants in the country.

NX Europe has incorporated two of its business locations to further expand its own operations and reinforce its business infrastructure in support of its customers’ operations in Morocco. Making full use of its accumulated sales and operational know-how, the Nippon Express Group will accelerate its efforts on behalf of the automotive industry, positioned as a priority industry in the Group’s business plan.

The Nippon Express Group will be further expanding its logistics capabilities in Morocco and across the rest of Africa, both of which are expected to enjoy continuing growth, and aggressively moving into the African market by leveraging its global network and accrued advanced logistics know-how, all the while contributing to the development of its customers’ business activities.

More details: https://www.nipponexpress-holdings.com/en/press/2022/17-Oct-22-1.html

Nippon Express website: https://www.nipponexpress.com/

Nippon Express Group’s official LinkedIn account: https://www.linkedin.com/company/nippon-express-group/