MTR Lab Company Limited (“MTR Lab”), Gobi Partners GBA, isBIM Limited (“isBIM”), and C Cheng Holdings Limited (“C Cheng”, HKEx Stock Code: 1486), the largest shareholder of isBIM, have today announced the successful closing of a transaction for MTR Lab and Gobi Partners GBA to subscribe for Series A-1 Preferred Shares of isBIM after receiving approval from the shareholders of C Cheng at C Cheng Holdings Limited's extraordinary general meeting and fulfilling all the conditions to closing. Through this transaction, MTR Lab and Gobi Partners GBA are co-investing HK$46.8 million in isBIM, enhancing the construction technology company’s capability to propel the industry toward a more data-driven, digitally empowered future.
As a leading Building Information Modelling (BIM) consultant and solutions provider in Asia-Pacific, isBIM’s solutions are driving digital transformation and sustainability in the construction industry. By harnessing the power of its artificial intelligence-enabled SaaS platform, data-driven solutions and digital twin applications, it empowers construction projects to boost operational efficiency, optimise energy efficiency, enhance safety, and improve environmental, social and governance (ESG) reporting.
The successful co-investment from MTR Lab and Gobi Partners GBA will fuel isBIM’s future advancements and business growth. The proceeds will be utilised for research and development of its JARVIS SaaS platform, enhancement of the company’s artificial intelligence and data analysis capabilities, expansion of sales channels and partner networks, and other purposes.
“Digitalisation has been impacting industries across the globe, and there is no exception for the construction sector,” said Mr Michael Chan, Managing Director of MTR Lab. “There is an imminent need for the construction industry to embrace digital transformation and be better prepared to meet the needs of the future. Advanced BIM technologies and data-driven solutions like isBIM’s can help the construction sector improve operational efficiencies and enhance sustainable practices. We expect that this co-investment with Gobi Partners GBA will support our collective effort to address the urgent need for digital transformation and environmental stewardship in the construction and property sectors and contribute to smart city solutions.”
Mr Danny Chong, Executive Director of Gobi Partners GBA, said, “Construction waste has been a significant contributor to landfills in Hong Kong. By digitalising the construction process, isBIM's technology not only boosts safety and productivity at project sites, but it also reduces the wastage of construction materials, contributing to overall efficiency and sustainability. We are excited to help them expand into other regions outside of Hong Kong.”
"This co-investment will be a pivotal milestone in advancing the digitalisation and decarbonisation of the construction industry,” said Mr Ivan Fu, Chief Executive Officer and Executive Director of C Cheng. “Through its unwavering commitment to innovation, isBIM is forging a path toward carbon-neutral construction practices across the industry. We are excited to continue to support isBIM as they lead the way in ESG-integrated project management. And with the additional backing from MTR Lab and Gobi Partners GBA, I believe we will be able to take isBIM’s development to the next level."
"isBIM has a long-standing vision to drive technological advancement across all verticals of the built world, improving economic returns, project quality, safety and sustainability throughout the building process," said Mr Elvis Li, CEO of isBIM. "Imagine managing all critical safety issues, greenhouse gas emissions, ESG ratings, form approvals and other economic key performance indicators of your projects in one master portal - that's our offer with JARVIS, combining the power of BIM, artificial intelligence and digital twin."
