Wearnes Development and Samsung China Investment forges alliance

Samsung to provide full range of electronic systems, products and after-sales service for Wearnes’ property development projects in China.

Wearnes Development Pte. Ltd., a wholly-owned subsidiary of SGX-listed WBL Corporation Limited (Wearnes), an international conglomerate with key businesses in technology, automotive, property and engineering & distribution, has forged a strategic partnership with Samsung China Investment Co., Ltd., for Wearnes’ property development projects in China.

Under the agreement, Samsung China Investment will provide its full range of competitively-priced, high-quality electronic products and efficient, specialist after-sales service to Wearnes Development for the latter’s development projects in China. These include central or individual unit air-conditioning systems, intelligent building management systems, residential intercom systems, community surveillance cameras, electrical appliances and so on.

"Over the years, we have strived to incorporate more green features in our property developments in China. Our Shenyang Orchard Summer Palace project received the international standard certification for Leadership in Energy and Environmental Design (LEED) for its office block and retail mall in July 2011. We are pleased to be in strategic partnership with Samsung, which is a reputed industry leader in reducing greenhouse gas emissions, and I believe we will be able to boost our competitive edge by delivering added value to our customers through our partnership," said Dr Hong Decheng, Group Managing Director, Wearnes Development Pte. Ltd, according to a Wearnes Development report.

The alliance was formally sealed with the signing of the Letter of Intent by both parties in Beijing today, inked by Dr Hong Decheng, Group Managing Director of Wearnes Development and Mr Lee Jaeyub, Global Vice President of Samsung Electronics and China HQ President for CE & IT Division, Samsung (China) Investment Co. Ltd.

Wearnes was among the first Singapore developers to invest in China in the 1980s. Huaxin International), Wearnes’ property development company in China and subsidiary of Wearnes Development, has since developed some 28 well reputed developments totalling 2.3 million square metres (sq m) in various Chinese cities. Huaxin International currently has five development projects in Chengdu, Chongqing, Shanghai, Shenyang and Suzhou. Notably, Huaxin International’s Shenyang Orchard Summer Palace mixed development, Chengdu Orchard Villas and Suzhou Qingjianhu residential project will yield about 880,000 sq m of space over the next few years.

Samsung Electronics is one of the global top 10 companies in the Carbon Disclosure Leadership Index (CDLI), and it is the only Asian company among the top 10 companies. As well, Samsung is listed in the Dow Jones Sustainability Index (DJSI). As of first half of 2010, Samsung earned the Global Ecolabel for its 2,134 models, thereby becoming the world’s No. 1 company in terms of the number of products meeting Global Ecolabel standards.