SGX Catalist-listed Hatten Land signs comprehensive collaboration agreement with Huawei
(ASEAN Startups) SGX Catalist-listed Hatten Land Limited announced Monday that its wholly-owned subsidiary Hatten Edge Pte. Ltd. has entered into a Comprehensive collaboration agreement (CCA) with information and communications technology (ICT) provider Huawei International Pte. Ltd.
Under the CCA, both companies will jointly explore and develop opportunities in cloud computing and enterprise intelligence, renewable energy, data centers, fintech infrastructure in Melaka and the region by utilizing their respective capabilities in technology, operational resources, and business networks, Hatten Land said in a statement.
Due to the fast-paced digital transformation and impact of the pandemic, it said that Southeast Asia has seen phenomenal growth in digital entertainment, including the gaming and esports sector of which the Malaysian gaming market alone is expected to show a compound annual growth rate (2021-2026) of 9.6 percent, resulting in a projected market volume of $676 million by 2026.
It said that tapping on the high growth and profitability potentials of the digital entertainment industry, Huawei endeavors to share its world-class expertise and cutting-edge technology in cloud and enterprise intelligence with Hatten to co-design and co-market innovative cloud products and services, including gaming cloud solutions.
It also claimed that Huawei Cloud is one of the world’s fastest-growing major cloud service providers currently.
Likewise in the cloud computing sector, it is said that the Southeast Asian cloud market is expected to reach $40.32 billion by 2025.
The Hatten-Huawei partnership will also focus on the joint development of eco-friendly data centers in Melaka to support Hatten’s ongoing digital initiatives and cater to the surging demand of data centers from cloud service providers in the region, it said.
In addition, it said both companies aim to work on potential opportunities for large-scale solar facilities in the region, thereby augmenting the group’s sustainability efforts.
As a start, it said that Hatten’s first photovoltaic (PV) project of installing over 6,000 solar panels on the roof of the largest mall in Melaka, Dataran Pahlawan Melaka Megamall, in 2022, will be equipped by Huawei’s smart inverters.
It also said that the company has substantial hospitality and commercial property businesses and assets in Melaka, a UNESCO World Heritage Site which is a major tourist attraction in Southeast Asia.
According to the statement, Hatten has recently had undertaken a major strategic review to re-purpose its malls and to pivot its business model towards blockchain-related and digital economy trends as well as opportunities in digital assets.
It said that Hatten’s digital opportunities include building a “virtual” world, starting with a digital twin city of Melaka (Digital Melaka), which will contain non-fungible tokens (NFTs), tokens, and other digital assets using blockchain and initiatives.
It said that Huawei Cloud will endeavor to support Hatten’s strategies and initiatives in blockchain, NFT, “green” and “clean” digital assets, custodian services, and other digital asset creation and monetization activities by providing its latest research and innovations on industrial-grade infrastructure architecture designed for financial institutions.
With the partnership targeted towards the regional markets, it said there are strong opportunities to leverage both Huawei and Hatten’s business networks to harness the emerging trends and business opportunities in Asia’s digital economy.
“The Huawei-Hatten partnership is a strong and unique complementary combination. Huawei’s expertise in innovation, technology, and complex digital product integrations, and Hatten’s established track record and business network in Malaysia and the region will allow us to build the next generation of cloud solutions, digital platforms, and renewable energy solutions,” said Colin Tan, Executive Chairman and Managing Director of Hatten Land.
“Together, working as one team, we aim to unlock the full potential of digital transformations and business opportunities within the new digital economies in Asia,” he said.
Huawei Cloud Singapore Managing Director Rex Lei also said, “Huawei Cloud is excited to be working with Hatten to support its digital-related ventures. We believe our technology and innovation will help with the multifaceted needs Hatten has for its strategic pivot.
Hatten Land is a property developer in Malaysia specializing in integrated residential, hotel, and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a leading brand in Malaysia with core businesses in property development, property investment, hospitality, retail, and education.
Hatten Land Limited began trading on the Catalist board of SGX-ST on February 28, 2017, after the completion of the reverse takeover of VGO Corporation Limited.
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