2019 has definitely been a remarkable year for Asiaray Media Group Limited, the company was not only granted the exclusive rights for new projects in the Greater China Area - where the company already has a strong business network - but also extended its business network to Singapore. In September 2019, Asiaray was awarded the exclusive right to operate advertising resources for the Singapore MRT Thomson-East Coast Line. This project is the group’s first business foothold outside the Greater China Region, expanding its presence along the Belt and Road to the Lion City.
“After more than two decades of hard work, Asiaray has built a rock-solid foundation in the Greater China Region with a business network covering 40 cities. But we want more, which is why we have kept looking for suitable opportunities to take our business overseas. Continuing on our success from last year, winning exclusive concession rights to media resources of two national projects - namely the Hong Kong-Zhuhai-Macau Bridge (Macau-Zhuhai Port) and High-Speed Railway (Hong Kong Section) - we are deeply honoured to have earned the trust of the Land Transport Authority of Singapore, which has granted us a 16-year concession right for advertising on the metro line. This latest win is not only the first the Group has scored outside Greater China, but has also given us an important cornerstone to develop overseas markets along the Belt and Road” said Vincent Lam, chairman and executive director of Asiaray.
Asiaray was already well known as a leading out-of-home media company with a strategic focus on airport and metro line advertising. In November of this year, the company further strengthened its business presence in Hong Kong, when Asiaray was granted the exclusive rights to operate the advertising resources for Kowloon Motor Bus (KMB) and Long Win Bus (LWB). KMB is one of Hong Kong’s biggest public transport service providers, operating over 400 bus routes with a fleet of 4,112 buses, carrying approximately 1,022,300,000 passengers during the year, while LWB operates 34 bus routes with a fleet of approximately 279 buses.
Lam added, “The concept of having bus advertising has existed since the 1950s. The exposure and impact of bus advertising can be very big and effective, as the advertisements can easily penetrate people’s lives and reach a huge population of all ages and income levels across the city with the bus fleets’ reach. Leveraging Asiaray’s unique ‘Space Management’ approach, rich experience in public transport advertising, and innovation, we believe our cooperation with KMB and LWB can maximize both companies’ strengths and grasp market opportunities in the public transport advertising market together.”
With Asiaray’s successful business model, competitive strengths, and bright prospects, the Company has attracted lots of attention from investors, including Alibaba Group. Ant Financial Services Group, an affiliate company of the Chinese Alibaba Group, has signed an agreement with Asiaray for subscription shares and become one of Asiaray’s shareholders. We can foresee that Asiaray will explore different cooperation possibilities with Ant Financial and generate synergies for its existing business, creating more effective advertising value for the clients.
In September 2019, Asiaray was awarded the exclusive right of operating the advertising resources of Singapore MRT Thomson-East Coast Line.