ASCOTT WINS THIRD GOLDEN DRAGON AWARD FOR ITS CONTRIBUTIONS TO VIETNAM’S ECONOMY

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 27, 2009 -- This year, Ascott has garnered the Golden Dragon Award for Best Serviced Residence Brand. CapitaLand’s Vietnam operations, CapitaLand (Vietnam) Holdings, has also been conferred the Award for High Quality Service.

The Golden Dragon Awards honour top foreign direct investment (FDI) enterprises that have made significant contributions to Vietnam’s economic development, and recognise outstanding achievements in brand, service and management excellence.

Winners of the annual Golden Dragon Awards were selected based on votes by readers of Vietnam Economic Times magazine and the organising board under stringent criteria. The board consists of leaders from key public agencies such as Ministry of Planning and Investment, Ministry of Trade, Ministry of Finance, State Bank of Vietnam, Union of Vietnam Scientific and Technological Associations and Vietnam Economic Times. Mr Vu Khoan, former Vice Prime Minister of Vietnam, is the Honorary President of the Golden Dragon Awards.

Mr Henry Lim, Ascott’s Country General Manager of Vietnam said: "Since our entry into Vietnam over a decade ago, Ascott has successfully built a strong brand reputation for our quality services and products. Besides our commitment to excellence, we strongly believe in giving back to the community where we operate, whether it’s by getting our staff and residents involved to help the less privileged or through our environment-friendly initiatives. We are honoured to be recognised by the Vietnam government and media for a third year for our contributions to Vietnam. Vietnam is an important market for Ascott and we will continue to seek opportunities to expand our presence in the country."

Ascott’s current portfolio in Vietnam comprises 1,050 serviced residence units in six properties in Hanoi and Ho Chi Minh City. This includes a new property, Somerset Saigon City, to be opened in 2011.

Besides winning awards for brand, service and management excellence, Ascott has been recognised for charity and environmental protection activities in Vietnam with the recent Saigon Times Top 40 Award 2008. Other awards Ascott has won include ‘Guide Award for Excellent Performance’, ‘50 Best Employers in Vietnam’, ‘Best Service in Serviced Apartments’ and ‘Excellent Service in Serviced Apartments’ awards.