Hatten Land Limited announced a new mall management arm ­ as part of its strategy to complement its core property development business and drive recurring revenue ­ which will undertake the management of commercial retail units within the shopping malls developed by the Group. The company currently has two completed malls, Elements Mall at Hatten City Phase 1 and Vedro by the River. It also has three malls pending completion, which will bring the total number of commercial retail units to 4,900 with a combined gross floor area of 4,349,196 square feet. The new unit, Hatten Commercial Management Sdn Bhd ("Hatten Commercial Management") will provide leasing and retail management starting with Elements Mall, Melaka's large shopping centre nestled along the Melaka Straits waterfront. Completed in November 2015, Elements Mall comprises 1,530 units with a net saleable area of 686,682 square feet. Apart from enhancing the proposition to owners of commercial retail units, the mall management arm provides an alternative revenue stream to the Group with revenue contribution from its maiden project expected to commence from first half of the financial year ending 30 June 2019.

The company also announced that Hatten Commercial Management will be headed by Chief Executive Officer Ms. Pow Lay Kuan, an industry veteran with over 20 years' experience in retail. Prior to joining the Group, Ms. Pow was the CEO of APM Property Management Pte Ltd, which managed properties such as Suntec City Mall, Park Mall and Capital Square. Ms. Pow has also provided management services to major developers in Malaysia such as the Pavillion Group.