9 November 2018

IPC inks JV agreement to launch the expansion of its hotel management business beyond Japan and into Asia Pacific Region

• IPC together with NHJC partner with PhillipCapital Group-backed APAHL, an integrated real estate service platform with deep knowledge of local real estate markets across Asia
• The Group’s hotel management arm in Japan NHJC manages 10 hotels in Japan today and will scale to 12 hotels by end-2018 and 18 hotels by end-2020
• Leveraging on NHJC strong operational execution in hospitality management coupled with APAHL’s sourcing capabilities, the Group’s aims to replicate its success in Japan to the rest of Asia Pacific Region

Singapore, 9 November 2018 – Mainboard-listed IPC Corporation Limited (“IPC” or “the Group”), a property development, hotel management and investment holding company announced today the signing of a joint venture agreement with AP ASEAN Holding Limited (“APAHL”) to conduct the business of hospitality and asset management in the Asia Pacific Region (excluding Japan).