The Executive Centre Announces Record Revenue in FY2023 Annual Results

Apr 19, 2024 | Business

The Executive Centre (TEC), the leading premium workspace provider that serves more than 47,000 Members in 34 cities across Asia-Pacific and the Middle East, announced its annual results today for fiscal year 2023. Achieving a record-breaking revenue of USD 315 million representing a 11.2% YoY growth, these exceptional results come on the back of a series of strategic expansions and TEC’s consistency in delivering unparalleled workspace solutions and service to its customers.

TEC’s focus on the high growth regions of Greater China, South Asia and the Middle East has been a cornerstone of the company’s success. In 2023, Greater China accounted for 47% of TEC’s total revenue while South Asia and the Middle East collectively contributed 22%, reflecting robust demand for premium flexible workspaces in these markets. In terms of adjusted EBITDA, TEC witnessed a healthy YoY increase of 12%, reaching USD 56 million. Greater China, with South Asia and the Middle East collectively, were also the most significant contributors at 37% and 34% respectively. In terms of contribution by city, Singapore emerged at the top, contributing 14% to overall adjusted EBITDA.

In 2023, TEC expanded its footprint exponentially with an addition of 26 new Centres across its network. Driven by strong client demand, South Asia and the Middle East saw the most significant growth with 12 new Centre openings, effectively doubling TEC’s footprint in the region since the pre-pandemic period. There were also new Centres opening in Mainland China, North Asia, Southeast Asia and Australia, spearheaded by high demand and TEC’s commitment to understanding and servicing the unique needs of local businesses.

TEC maintained an impressive global average occupancy rate of 88% across its network in 2023, reflecting strong customer satisfaction and the growing trend towards flexible workspaces globally.

Central to TEC’s success is also its agility in adapting to the evolving needs of the modern economy and workforce. A notable highlight of the year was the growth of the Coworking & Virtual Office segment, which saw a YoY revenue increase of 15% globally. This was a result of significant growth from key markets of Southeast Asia and the Middle East with YoY increases of 35% and 37% respectively. With a comprehensive inhouse suite of professional business and operations support, the Coworking & Virtual Office offering empowers business owners and entrepreneurs to enter new markets and scale rapidly without the need to commit long-term investments in inflexible office infrastructure.

Diving into data on revenue by service, TEC’s insights revealed an uptrend in the use of physical meeting and event spaces. The segment saw a global growth rate of 39% YoY, with high levels of usage in Hong Kong, and cities such as Singapore and Tokyo. In terms of markets, notable growth rates were recorded in Greater China, Southeast Asia, and the Middle East, achieving YoY increases of 55%, 57% and 65% respectively, pointing to a resurgence of in-person collaboration and the importance of continued availability of flexible event spaces and solutions for businesses to fulfil networking and operational needs.

TEC Founder and CEO, Paul Salnikow, said: “Our unwavering commitment to service excellence and our ability to anticipate market trends have allowed us to not only meet but exceed our goals amidst a rapidly changing global business environment. We are excited to continue on this trajectory, fostering innovation and expanding our presence strategically to support our clients’ growth and success.”

With its strong financial results and a proven business model, The Executive Centre is poised to maintain its leadership in the premium workspace sector as it celebrates 30 years of excellence this year. TEC remains committed to its mission of providing exceptional service and facilities to its global members as it looks to the future with a clear vision for continued expansion and success.

About The Executive Centre

The Executive Centre (TEC) is Asia’s premium flexible workspace provider, opened its doors in Hong Kong in 1994 and today boasts over 200+ Centres in 34 cities and 15 markets. It is the third largest serviced office business in Asia.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, South Asia, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Events facilities to suit any business’ needs.

www.executivecentre.com

Press Enquiries
FGS Global
Crystal Chow / Kitty Lam
Crystal.Chow@fgsglobal.com / +852 3166 9838
Kitty.Lam@fgsglobal.com / +852 6306 8851

The Executive Centre
Pebble Lee
Pebble_lee@executivecentre.com / +852 3951 9888


Topic: Press release summary

Taiwan-Reyhanli Centre for World Citizens Establishes MOU with Loyola University Maryland’s Sellinger School of Business and Management

Mar 6, 2024 | Business

 The Taiwan-Reyhanli Centre for World Citizens, also known as the Centre for World Citizens, has formally signed a Memorandum of Understanding (MOU) with the Sellinger School of Business and Management at Loyola University Maryland. This groundbreaking partnership aims to enhance bilateral relations and international humanitarian involvement, while encouraging the younger generation to engage in sustainable development and innovate within limited resources to create international influence in various fields.

Long committed to addressing the Syrian refugee crisis, the Centre’s founder and chief architect, Mr. Chiu Chen-Yu, was invited to the United States for a series of meetings with academic and governmental institutions. On February 28, he delivered a two-hour lecture at Loyola University in Baltimore, which was followed by high-level discussions with university officials. The MOU was subsequently signed by Mr. Chiu Chen-Yu on behalf of the Centre and Professor Mary Ann Scully, Dean of the Sellinger School, solidifying a commitment to integrate educational resources and civil society efforts from both Taiwan and the United States, thereby expanding the Centre’s influence in North America.

The Centre, located near the Syrian border in Turkey, is a refugee camp designed with semi-permanent structures and encompasses a wide range of facilities, including women’s social enterprises, refugee children’s education, emergency medical services, and shelter. Eschewing traditional temporary solutions, the Centre adopts participatory design and collaborative construction methods, engaging Syrian refugees, local residents, and the government in building a sustainable community aimed at providing more substantial and long-term solutions to refugee issues.

The Centre’s initiatives, such as the women’s workshop and the UN IOM-sponsored school, have not only been successful in their respective areas but have also provided meaningful experiences and profound life lessons for Taiwanese students participating in various projects. These include organic composting from kitchen waste, recycling plastic waste into circular economy products, and regular remote teaching and cultural exchange programs.

The MOU with Loyola University Maryland marks a significant milestone for the Centre. Professors Irem Demirkan and Hung-bin Ding of the Sellinger School played crucial roles in facilitating this partnership. The collaboration aims to enlighten business students about the importance of civic participation and innovative thinking in creating business models that achieve both profit and social responsibility.

As Mr. Chiu Chen-Yu articulates, the refugee issue is a global concern, and the Centre represents a collective effort. Looking forward, the Centre aims to promote sustainable architecture and humanitarian aid not only in the United States but also by integrating wisdom and resources from various countries and regions. Mr. Chiu Chen-Yu expresses gratitude for this opportunity to share the Centre’s accomplishments with a mainstream American audience, acknowledging the complexity and challenges of international humanitarian and refugee issues. This partnership symbolizes a step towards garnering more support and involvement to provide the most vulnerable groups with a home and sustainable employment.

The Centre for World Citizens
Jack Huang
+886 918246809
taiwanreyhanlicentre.com/en/about/
For Sellinger School of Business and Management at Loyola, please contact Prof. Hung Ding / HDing@loyola.edu

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EMKA at Data Centre World, March 2024

Mar 4, 2024 | Business

 EMKA will be demonstrating their “Agent E Wireless” wireless locking system at the forthcoming Data Centre World Exhibition at Excel London from 6 to 7 March on stand no D220. Visitors will be able to see how, by leveraging a combination of electromechanical handle, software and wireless technology, the EMKA system allows individualised access to all cabinets and perpetually supervises the opening and closing processes. In addition, the handles can be easily and quickly adapted to cabinets from different manufacturers. Typically, EMKA provides authentication with an RFID card and Agent E.

Additional levels of security may also be catered for – such as use of an iris scanner that can open the server cabinets remotely. Since the eye profile cannot be mistaken, this authentication method is understood to offer maximum security.
All authorised rack doors may then be shown and can be selected on a display. The selected handles are transmitted to the control unit of the EMKA system and from there the activation is triggered wirelessly through personalised access control down to the cabinet level, Agent E thus enables clear logging and tracing. The entire system thereby consists not only of EMKA secure handles but also includes database-based control software and powerful modules.

EMKA (UK) Ltd.
Stuart Biddle
02476616505
https://www.emka.com/uk_en/sectors/server-racks/

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Hong Kong – Hong Kong films take centre stage at British Film Institute in London (with photos)

Jul 16, 2023 | International

Hong Kong films take centre stage at British Film Institute in London (with photos)

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     The Hong Kong Economic and Trade Office, London (London ETO) partnered with Focus Hong Kong to showcase a selection of Hong Kong films at the British Film Institute Southbank, London on July 12 – 15 (London time).

     Hong Kong film “Where the Wind Blows”, directed by Philip Yung and starring Tony Leung and Aaron Kwok, was screened as the opening film on July 12, also marking the UK premiere of this captivating masterpiece. Addressing the audience at the opening screening, the Director-General of London ETO, Mr Gilford Law, said that the Hong Kong Special Administrative Region Government is committed to supporting Hong Kong’s creative industries and developing Hong Kong into an East-meets-West centre for international cultural exchange as well as attracting creative talents to the city, including professionals and practitioners involved in film making. 

     “We are delighted to work with the British Film Institute this year to bring four Hong Kong films to London. I am also pleased to point out that Tony Leung, a leading actor of ‘Where the Wind Blows’, would soon be awarded the Golden Lions for Lifetime Achievement in the 80th Venice International Film Festival, being the first Chinese actor to receive the honorary award. Thanks to the dedicated efforts of creative talents, together with the Hong Kong Special Administrative Region Government’s firm support to the film industry, Hong Kong has one of the largest and most dynamic film and entertainment industries in the world,” he said.

     The Focus Hong Kong film festival presented four Hong Kong films, namely “Where the Wind Blows”, “A Guilty Conscience”, “Let it Ghost” and “Nomad (4K Restoration, Director’s Cut)”.
 

Centre For Cybersecurity Partners with SharePass to Enhance Secure Communication with Students

Jun 6, 2023 | Business

 About SharePass:
SharePass is a leading provider of secure communication solutions designed to protect sensitive information and ensure data privacy. With its advanced encryption and privacy features, SharePass empowers organisations to securely share and communicate confidential information while maintaining complete control over their data. By leveraging cutting-edge technologies and user-friendly interfaces, SharePass offers a seamless and secure communication experience across multiple platforms and devices.

About the Centre For Cybersecurity (CFC):
CFC is a renowned institution in Singapore specialising in cybersecurity education and research. With a strong commitment to addressing the growing challenges in the digital realm, CFC plays a pivotal role in equipping individuals and organisations with the necessary knowledge and skills to combat cyber threats. As a leading authority in cybersecurity, CFC is dedicated to promoting cybersecurity awareness, fostering best practices, and driving innovation in the field.

With the increasing importance of cybersecurity and the need to safeguard sensitive data, CFC recognises the value of a robust and reliable communication solution. SharePass offers one-click AES industry encryption and privacy features that align perfectly with CFC’s commitment to maintaining the highest data protection standards.

By leveraging SharePass, CFC can securely collect PII from their students, ensuring that sensitive information remains confidential. The platform’s innovative features, including embedded encryption and user-controlled data expiration, provide an additional layer of security, preventing unauthorised access and minimising the risk of data leaks.

One of the key benefits of SharePass is its user-friendly interface, allowing CFC and its students to navigate and utilise the platform seamlessly. SharePass supports various devices, enabling secure communication across various platforms, including desktops, laptops, and mobile devices. This flexibility ensures that students can access their information securely, regardless of their preferred device or location.

Additionally, SharePass integrates advanced authentication methods, including support for YubiKeys, further enhancing communications security between CFC and its students. YubiKeys protect against unauthorised access and ensure that only authorised individuals can access the shared information.

The partnership between CFC and SharePass reinforces the commitment of both organisations to prioritise data security and privacy. By leveraging SharePass’s secure communication platform, CFC can enhance their ability to protect sensitive student information, creating a safe and trusted environment for data exchange.

“We are thrilled to partner with the CFC in their mission to protect sensitive information and promote cybersecurity awareness,” said Yuri Miloslavsky, CEO of SharePass. “By leveraging SharePass, CFC can effectively communicate with their students while ensuring the privacy and confidentiality of their personal information. We look forward to supporting CFC’s commitment to data security and helping them create a secure digital environment for their students.”

Organisations like CFC recognise the importance of secure communication channels as the digital landscape evolves.

SharePass’s cutting-edge technology and commitment to data security position it as an ideal solution for safeguarding sensitive information. CFC and SharePass partnership set a benchmark for secure communication practices in education, ensuring student privacy remains a top priority.

SharePass Pty. Ltd.
Yuri Miloslavsky
1800 968 324
https://sharepass.com

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