IPGA LTD Acquire Malaysia's Number 2 Ranked Property Portal, Thinkproperty.com.my

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IPGA Ltd (ASX: IPP), the owner of Asia’s No. 1 network of property portal sites under the iProperty umbrella brand (www.iproperty.com), today announced that it has acquired Think Media Sdn Bhd, owner and operator of Malaysia’s number two ranked property portal ‘thinkproperty.com.my’. IPGA Ltd currently operates Malaysia’s number one ranked property portal iProperty.com.my.

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“Malaysia is one of our core markets alongside Singapore and Hong Kong. At the begining of the year we stated clearly that our strategy will be focused on building on the market on the market leading positions we’ve established in our three core markets. The acquisition of thinkproperty.com.my further consolidates our leadership position in Malaysia and builds an even better platform for future growth in that market and across the region,” said IPGA CEO, Shaun Di Gregerio.

“We’ll continue to run thinkproperty.com.my as a standalone website in Malaysia as it offers consumers a different user experience and allows advertisers to reach a unique audience of property buyers and sellers. We’ve identified a number of improvements we can make to the website and ultimately deliver an even better result for consumers and advertisers in the Malaysian market,” commented Di Gregorio.

IPGA Ltd has acquired Think Media Sdn. Bhd. for AUD2.08 million. The website thinkproperty.com.my currently has more than 4 500 Agents advertising approximately 80 000 properties for sale and for rent. It received 178 000 Unique Visitors in May 20101 making it the clear number two property portal in Malaysia. Thinkproperty.com.my also accepts display advertising and has an active property forum and blogging community.

“Following the successful acquisition of SG-house.com in Singapore in June, the acquisition of thinkproperty.com.my in Malaysia further illustrates our commitment to be clear market leaders in Malaysia, Singapore and Hong Kong,” commented Di Gregorio.

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