Photos courtesy of ARA Asset Management
INDUSTRY REGULATORS, bankers, lawyers, real estate professionals, investment analysts and the media..... The who's who from these groups turned up for ARA Asset Management's 10th annivesary bash at Raffles City Convention Center’s ballroom on 10 Aug.
Basking in the success of ARA's 10 years were also staff from its various groups, including asset management, REIT management, private fund, real estate management services and corporate finance advisory services.
There are many challenges ARA has overcome.
As John Lim, its Group CEO, said: "Ten years ago, I took the plunge and started ARA when the economy was depressed. I can still recall the anxieties, hopes and energy when we started with a 4-person outfit in Hong Kong in 2002, with the support of Cheung Kong Holdings as co-founder and partner.
"It was truly hard work, with many challenging and rewarding experiences. Time has passed quickly. A decade is a long period; it makes up almost three Olympic games, including the one that is on-going in London now!. ARA has succeeded beyond our best expectations."
ARA listed its first REIT in Singapore -- Fortune REIT.
Since then, it has listed a new trust or launched a new private property fund almost every year in Singapore, Hong Kong or Malaysia.
ARA itself was listed in 2007, and recently achieved a market capitalisation of S$1.1 billion.
With so many IPO successes, it was no surprise that net profit has ballooned from S$34 million in FY2007 to S$68 million in FY2011.
Investors were impressed that its net margins were in excess of 50% year after year.
On the evening of the celebration dinner, ARA announced that its 1H2012 net profit was up 20% year-on-year at S$35.4 million.
It also declared an interim dividend of 2.3 Singapore cents.
AUM to go from S$21.8 billion to ....$40 billion?
Total assets under management has hit S$21.8 billion, more than double the S$9.6 billion during its IPO.
In July, ARA was conferred the Best Managed Board (Gold) Award at the Singapore Corporate Awards 2012 for companies with S$300 million to less than S$1 billion in market capitalization.
In Aug, it announced that close to US$1 billion had been raised for its private real estate funds, a remarkable feat given the challenging fund raising environment.
Gross investor commitments of US$941 million were raised via its new fund, ARA China Investment Partners, and its existing Asia Dragon Fund II.
”I believe Asia, with its strong fundamentals and hardworking and resourceful people, should continue to do well. Given ARA’s strengths, I also believe ARA can look forward to many more good years of growth,” said Chairman Justin Chiu at the dinner.
Group CEO John Lim has lofty dreams: "I have challenged the ARA team to a new 5-year vision for 2016: achieving $40 billion in assets under management."
What an evening of dinner and dance it was!
There were ice sculptures and laser shows.....
A sumptuous 9-course dinner of fine wining and dining....
Exciting games that brought memories of younger days back to life....
Photo mementos.....
Celebrity entertainers taking the guests to stage.....
Live video capturing guests in action....
150 lucky draw prizes.
Some extraordinarily lucky soul walked away with an all-expenses paid holiday worth over S$4,000 at a 5-star hotel in Beijing.
It was Friday night and the dance floor with a live! disco band wowed all party-lovers.
Recent story: ARA Wins Best Managed Board (Gold) Award