FMN Sponsors the Dare2Dream Project Season 5

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Cityneon Raises S$235 Million; Well Positioned for Next Growth Chapter

  • The global experience entertainment company gets a S$235 million shot in the arm, closes its private fund raising in April 2021
  • Investors both new and existing include Singapore's Pavilion Capital, Seatown Holdings International and EDBI, Qatar's Doha Venture Capital and financial institutions and family offices in Singapore and China
  • These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan
  • Funding comes just after the Group acquired multi-year licensing rights for James Cameron's AVATAR touring exhibition, and two original artefacts IP on the ancient civilization Machu Picchu from Peru and Ramses the Great (Ramses II) from Egypt
  • Investments position the Group well to bring experiences across the globe, targeting to launch six experiences in China and five in the U.S. by the end of 2021, with more in other parts of the world

SINGAPORE - Media OutReach - 21 April 2021 - Cityneon Holdings ("Cityneon", the "Company"/collectively with its subsidiaries, the "Group") raised S$235 million in the most recent round of private funding. The latest round of funding adds seasoned investors to Cityneon's already strong stable of shareholders.

This funding round was led by Singapore's Pavilion Capital, Seatown Holdings International, EDBI, and Cityneon's Executive Chairman & Group CEO, Mr. Ron Tan. EDBI and Pavilion Capital are existing shareholders of Cityneon whilst new investors include Seatown Holdings International, Qatar's Doha Venture Capital, which will now own approximately 4 per cent of the Group, and other financial institutions and family offices in Singapore and China.

These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan to form a new and strong shareholder base for the Group. Mr. Johnson Ko and Mr. Ron Tan remain as the largest shareholders of the company via their combined entity, West Knighton Limited.

The Group is now well positioned for its next growth chapter and will use the proceeds for capital expenditure that includes building more of its various intellectual property (IP) exhibition sets, totaling 24 travelling and four semi-permanent sets under the Studio IP partnerships and three travelling sets under the original artefact IP partnerships by the end of 2022.

Already, the Group just signed its fifth IP rights with Avatar from 20th Century Studios last year. Amidst the anticipation from Avatar fans worldwide, Cityneon will debut a multi-sensory Avatar exhibition in Chengdu, China in May 2021, ahead of the Avatar movie sequel which is slated for release in 2022. Avatar is the world's top grossing film of all time at over US$2.8 billion, and adding millions more after its successful re-release in China in March 2021. Avatar's director James Cameron has announced that he will be producing four sequels with 20th Century Studios, with the first sequel slated for release next year. Disney acquired 20th Century Studios for US$71 billion in 2019.

The Company also recently entered the original artefacts IPs space and will stage international exhibitions of the treasures of the ancient civilization Machu Picchu from Peru in Boca Raton, Florida and Pharaoh Ramses II from Egypt in Houston, Texas. These two experiences will start welcoming visitors in October and November 2021, respectively.

Other IP rights that the Group holds include partnerships with Universal Studios for Jurassic World: The Exhibition, Marvel for Avengers S.T.A.T.I.O.N., Lionsgate for The Hunger Games: The Exhibition and Hasbro for Transformers Autobot Alliance. All in, Cityneon holds the IP rights for five of the top 10 worldwide box office hits and two artefacts IP from Peru and Egypt. The Group expects to have six sets of its various IP rights travelling across China, and five travelling and permanent sets in the United States, with a few more in other parts of the globe.

The Group will also be reopening experiences that were temporarily closed in 2020, aiming to provide visitors with a safe entertainment option. These include the Marvel Avengers S.T.A.T.I.O.N. in Toronto, Canada that will be re-opening in May 2021; and the Marvel Avengers S.T.A.T.I.O.N. exhibition in Lotte Mall in Seoul, Korea in April 2021; the same exhibition space which previously housed Jurassic World: The Exhibition, another IP experience exhibition by the Group in 2019. In the past month, the Group also witnessed record visitor numbers at their semi-permanent installations in Las Vegas, USA, signaling a strong comeback and demand for their immersive experiences, as they step into the 6th year of operations there.

While there are exciting plans lined up, the Group is not resting on its laurels. More Hollywood IPs and artefact IPs can be expected, and there will be further announcements on new IP verticals in entertainment experiences that the Group is looking to enter.

Mr. Ron Tan, Executive Chairman & Group CEO of Cityneon, said: "It is exciting that the Company is going through such strategic expansion as one of the largest providers of exhibition entertainment experiences globally. The S$235 million funding round sets a solid foundation for us to invest in developing more of our entertainment experiences, to stage even more exhibitions of the five box office hits and two artefact IPs that we hold the rights to all over the world. I'm thankful that our strong investors base, now from Singapore, Hong Kong, China and the Middle East, have trust in our vision, and believe alongside us that this space of big ideas and big experiences will only grow."

By the end of this year, Cityneon will arguably be the largest provider of exhibition entertainment experiences internationally; with global footprints in more than 50 cities and welcoming 10 million unique visitors across the world by 2022.

Cityneon Holdings

With its global reach and international partnerships, Cityneon has the capability to serve its clients anywhere in the world. Cityneon was listed on the Mainboard of the Singapore Stock Exchange since 2005, and was privatized on February 2019 by West Knighton Limited, a company wholly owned by Cityneon's Executive Chairman and Group CEO, Ron Tan, together with Hong Kong veteran entrepreneur and investor, Johnson Ko Chun Shun. Johnson is a capital markets veteran and has held controlling interests and directorships in many listed companies. In May 2019, Cityneon welcomed CITIC Capital as a new shareholder, who holds approximately 10% shares in Cityneon. CITIC Capital is part of CITIC Group, one of China's largest conglomerates, and has over US$25b of assets under its management across 100 funds and investment products globally. Other institutional shareholders of the Group include EDBI - a Singapore government-linked global investor, and Pavilion Capital - a Singapore-based investment institution which focuses on private equity investments, that made strategic investments in August and October 2019 respectively, to support the Group's further expansion globally. For more information, please visit


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FMN Sponsors the Dare2Dream Project Season 5 - Brand Spur

FMN Sponsors the Dare2Dream Project Season 5 - Brand Spur
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Flour Mills of Nigeria (FMN) sponsors the Dare2Dream project, a youth empowerment platform designed to expose creative talents to entrepreneurial skills in Nigeria.

It presents a broad basket of food products, which includes Nigeria’s number one pasta “Golden Penny”. The FMN group is on a mission to “Feed the Nation, Everyday” through its core food value chains: Grains, Sweeteners, Oils and Fats, Proteins, and Starches. This it does by creating value along the entire food chain with its “farm-to-table” model, providing inputs and know-how to farmers, aggregating, sourcing crops and raw materials to supply its world-class processing facilities across Nigeria, and distributing its innovative food brands to its customers.

FMN Sponsors the Dare2Dream Project Season 5 - Brand Spur

Dare2Dream Season 5 has seen even more engagement of the youth due to fun activities hosted by Golden Penny such as the cooking competition which saw many youths female and male respectively turn up in numbers to show their culinary skills whilst competing to win amazing prizes.

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FMN Sponsors the Dare2Dream Project Season 5 - Brand Spur

According to her, culinary art is a recognized form of creativity all over the world. This is why this year, Golden Penny would be on the lookout for young ambassadors that show true potentials of becoming masters in the culinary arts. Also, Nigeria’s number 1 Pasta brand, Golden Penny Pasta, will be on hand to provide the right nutritional support and the vitality that they need to succeed in their dream.

Read Also:  NSE Calls for the Acceleration of Gender Equality (Pictures)

Francesca Rosset, the producer of the Dare2Dream acknowledged the participation of Golden Penny in the Dare2Dream Campus Tour saying, “This year, the project will go beyond the university tours into a boot camp. During the boot camp, we will host a special masterclass on cooking, where we hope to reinforce the idea that creativity must be fueled by good nutrition.”

Dare2Dream is produced by Kinabuti and co-produced by Pulse Nigeria.

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Latest News

Samsonite Unveils Sustainable ‘Magnum Eco’ Luggage Collection

HONG KONG SAR - Media OutReach - 21 April 2021 - On Earth Day (April 22), Samsonite is launching Magnum Eco − a durable, lightweight luggage collection that harnesses the innovative advancements of recycled material Recyclex™. The launch takes Samsonite a step further on its responsible journey to becoming the most sustainable luggage company.

FMN Sponsors the Dare2Dream Project Season 5 - Brand Spur

Recyclex™ material technology is applied to Magnum Eco. The exterior shell uses recycled polypropylene (PP) while the inside fabric is made from recycled PET bottles. But the Magnum Eco collection does not compromise on quality or strength – upholding the reliability that is built into Samsonite's core DNA. This durability only adds to the sustainability efforts of the Magnum Eco range by ensuring each suitcase keeps on the road, and out of landfill, for as long as possible.

This new collection is the fruit of years of research and development and close collaboration with Quality Circular Polymers, the plastics recycling joint venture of SUEZ and LyondellBasell. Antoine Grange, CEO of SUEZ Recycling and Recovery in Asia, commented "We are delighted to provide Samsonite with solutions that cover the whole value chain to produce high-quality secondary raw materials and satisfy the highest standards, from industries to consumers."

"We are honored to be a part of the solution to end plastic waste and welcome the opportunity to partner with Samsonite," said Ken Lane, Executive Vice President, Global Olefins & Polyolefins of LyondellBasell. "The Magnum Eco is a perfect use for our recycled material because it gives new purpose to this valuable resource by providing travelers with a long-lasting product."

Magnum Eco also boasts lightweight and impact-resistant qualities. The suitcase has been through all the rigorous strength tests that Samsonite is famous for and is amongst the lightest in its category. The collection offers five desirable colour options, each inspired by nature. When it comes to security, travellers can rest assured their belongings are safe thanks to a 3-Point Lock System.

"Over the past 111 years, Samsonite has focused on innovation, design, and has been an industry leader in using new materials," said Paul Melkebeke, Samsonite President APAC and Middle East. "Magnum Eco is our further proof to pioneering solutions for the decades to come helping travellers' journey further."

For eco-conscious consumers that are unwilling to compromise on durability and style, the Magnum Eco collection makes an unrivalled travel partner.

FMN Sponsors the Dare2Dream Project Season 5 - Brand Spur
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