The merger combines the strengths and resources of JTC’s two subsidiaries engaged in related business of developing and managing industrial properties, science parks, incubators, IT facilities and other related businesses: Arcasia Land, in the Singapore, and JTCi in the Asian region. As a single entity, Ascendas represents enhanced competitiveness and stronger regional presence, putting the new company in a stronger position to facilitate customers’ expansion in Asia.
Chong Siak Ching, president and CEO of Ascendas, said that "We have created a company that combines the very best of two leading players, a company that will build on our rich heritage and history of expertise to scale new business heights."
The fusion forms part of the JTC Group’s strategy to continuously change and restructure itself so as to remain relevant and effective in the fast evolving new economy.
Ascendas has a total of $1.2 billion in assets and 1.2 million square meters of business environments spread over in Singapore, India, China, Hong Kong and the Philippines, as well as representative offices in the USA and Japan. It has close to 1,000 clients from the world over, including MNCs and global technology giants, which come from leading-edge industries such as info-communications, biomedical sciences and electronics.
It has made its presence felt in the Philippines through the successful Carmelray Industrial Park II (CIP II), a 145-hectare Philippine Economic Zone Authority (PEZA), registered Economic Zone, in Calamba, Laguna.