Dec 22 2007
Lightscape Technologies Inc., a provider of innovative lighting design solutions, advanced lighting products and customized energy management solutions, today announced that the company has launched its new LED Screen Rental Service and secured its first rental service contract in Hong Kong.
Bondy Tan, President and CEO of Lightscape Technologies commented, 'We are very pleased with the launch of our LED Screen Rental Service, and the immediate reception it has received in our markets.
The surging demand for rentals of audio-visual and LED equipment in Greater China and SE Asia, driven in part by the coming 2008 Beijing Olympics, provides strong support for our entry into this business. The main products that Lightscape offers for its LED Screen Rental Service are LED panels, LED video walls, digital control systems and related peripheral equipment. This new service offering enables our clients the option to rent our LED screens and other hardware on a short to medium-term basis rather than directly purchasing our full LED lighting systems. Our market research with our current and potential clients clearly indicated that this would be a valuable service option, so it was a natural fit within our service portfolio.
The primary users and target applications for our LED Screen Rental Service include advertising companies, architects, real estate developers, hotel and casino owners, corporate events, live performances, and television and film production houses. Our new LED Screen Rental Service is expected to provide a stable source of recurring revenue, and is expected to begin contributing to our revenue stream before the end of our fiscal 2008.'
Continued Mr. Tan, 'An early customer for Lightscape's LED Screen Rental Service was Metro Broadcast Corporation Limited of Hong Kong. From December 13-14, 2007, Metro staged two live music and entertainment shows at the Hong Kong International Trade and Exhibition Centre. As a key part of the presentations, Metro selected Lightscape's LED Screen Rental Service in order to deliver a powerful viewing experience to its audience.
Lightscape provided Metro with an all-in-one solution which included a 17.2 square meter (approximately 4.5 meter x 3.8 meter) LED video screen, screen control system, cables, peripheral accessories and technical manpower. The LED screen was used to display artistic moving image backdrops, as well as live camera shots during the performances. Metro Broadcast Corporation Limited operates three radio stations in Hong Kong: Metro Showbiz (FM99.7), Metro Finance (FM104) and Metro Plus (AM1044). Metro was founded in 1991 and is owned by Hong Kong- listed companies Hutchison Whampoa Limited and Cheung Kong (Holdings) Limited.'
Said Mr. Tan, 'In other news, Lightscape continues to market and sell its full LED lighting systems to various clients in Greater China. In early December, we signed a contract to provide LED lighting and audio-visual solutions for Hong Kong's K11 Hanoi Road development. This initial contract calls for the design and installation of a 3 meter x 1.7 meter LED video wall, surround sound speaker system, control system, cables and peripheral accessories within the K11 main showroom, as well as a 35 square meter LED video wall (approximately 7 meter x 5 meter) located at the flyover within the property's shopping mall.
We anticipate that our work under this initial contract may lead to additional contracts with K11 for the design and installation of our LED lighting solutions throughout other areas of the property. K11 Hanoi Road is a high-end redevelopment project located on Hong Kong's Victoria Harbour. The project includes a 384-room hotel, 36 storeys of luxury residential condominiums, 265,000 square feet of retail shopping space and 13,000 square feet of public space. The K11 development is owned by Hong Kong-listed company New World Development Company Limited.'
Continued Mr. Tan, 'Lightscape has also been engaged to provide LED lighting solutions for the new W Hotel Hong Kong. Lightscape is designing and supplying LED-based 'W' logos for the property. The W Hotel Hong Kong is an ultra-chic 383-room waterfront hotel located in West Kowloon, Hong Kong. The development, scheduled to open in mid-2008, is owned by Hong Kong-listed company Sun Hung Kai Properties Ltd.'
Mr. Tan concluded, 'With the enhancements our new LED Screen Rental Service brings to our LED product and service portfolio, we have built Lightscape into a total solution provider of LED lighting systems and services. Lightscape now offers services encompassing lighting design consultancy, supply and build of our designed LED lighting systems, audio- visual multi-media system design and content creation, short-term LED rentals, and post-sales maintenance. Lightscape is positioned to be the one-stop shop for LED lighting solutions in Greater China and SE Asia, and we look forward to delivering upon existing contracts and capitalizing on the market opportunities.'