Care Park Appointed by Macquarie to Manage and Operate SKYCITY's Car Park in Auckland, New Zealand

HONG KONG, April 8, 2019 /PRNewswire/ -- Far East Consortium International Limited ("FEC" or the "Group"; SEHK: 35) is delighted to announce that Care Park was appointed by Macquarie Principal Finance Group ("Macquarie") to manage and operate SKYCITY's car park in Auckland, New Zealand, after Macquarie has won a 30-year concession for the car park at SKYCITY's casino and Convention Centre, which is the largest car parking operations in New Zealand comprising 3,300 bays to meet the demand for the New Zealand International Convention Centre currently under construction.

Care Park currently operates 48 car parks in New Zealand, three of which are self-owned. The partnership with Macquarie will increase Care Park's car parking bays under management in New Zealand by 35% to approximately 13,000 bays, which will set a solid basis to further enhancement and assist the growth of Care Park's operations in New Zealand. Care Park and Macquarie would actively strive to enhance customer experience through a range of new marketing and promotional initiatives. This partnership would represent a successful cooperation model between Care Park and international infrastructure funds like Macquarie.

Along with changes in times and flourishing technology, Care Park will implement a series of technology initiatives to enhance customer experience and drive revenue, including "My Care Park pre-booking platform" and "My Care Park App", which provides patrons search and GPS directions guidance. Furthermore, Care Park will introduce initiatives to ensure a seamless parking experience via the use of license plate recognition to reduce entry and exit times and upgrade the existing parking control system. By using digital marketing platforms, it can provide yield management, enhanced external identification, and internal directional guidance signage, which can enhance customer services to a higher level.

Mr. Chris HOONG, Managing Director of FEC said, "I believe the cooperation with Macquarie will significantly benefit Care Park's New Zealand operations. We are honored that we have an opportunity to work with successful international infrastructure funds like Macquarie. The Group is full of faith that both parties could benefit from this partnership."

Mr. Robert BELTEKY, Managing Director of Care Park said, "Care Park is proud to be selected by Macquarie as a partner in the operation of New Zealand's most iconic car park. We also appreciate the support of SKYCITY in endorsing Care Park's vision to deliver technology and marketing initiatives to ensure SKYCITY's patrons enjoy increased levels of services and experience in seamless parking. Care Park has been a major parking services provider in New Zealand for over 15 years. This is one of our largest management agreements to reinforce our goodwill as a partnership-focused manager with a philosophy of working in cooperation with property owners to deliver the outcomes they seek to achieve."

About Far East Consortium International Limited

Far East Consortium International Limited has been listed on the Hong Kong Stock Exchange since 1972 (HKEx stock code: 35.HK). The Group is mainly engaged in property development and investment, hotel operations and management, car park operations and facilities management, securities and financial product investment and gaming operations. The Group adopts the diversified regional strategy and the "Asian Wallet" strategy with business covering Hong Kong, mainland China, Australia, New Zealand, Malaysia, Singapore, the United Kingdom and other European countries.

About Care Park

FEC operates its car park business through its subsidiary Care Park. As one of the largest car parking operators in Australia and New Zealand, Care Park has expanded to the United Kingdom, Hungary and Malaysia. As at 30 September 2018, it has a portfolio of 461 car parks and approximately 92,740 car parking bays, including 35 self-owned car parks and 426 managed car parks.

FEC official website:
www.fecil.com.hk