CITIC Telecom CPC Propels ‘+AI to AI+’ ACN Newswire

CITIC Telecom CPC Propels ‘+AI to AI+’

HONG KONG, Oct 18, 2024 - (ACN Newswire via SeaPRwire.com) - CITIC Telecom International CPC Limited (“CITIC Telecom CPC”), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883) is at the forefront of AI+ innovation era, enabling dual empowerment of technology and data, and fostering a new business model of intelligence and innovation across industries. CITIC Telecom CPC has further unleashed multiple AI+ projects powered by “AI+ Cloud, Network, Security” framework, the integration of AI technology with big data analytics and security capabilities, and vital customer experience, fueling innovative AI+ applications across industries to reshape the Intelligence Operation Journey of enterprises.CITIC Telecom CPC collaborates with partners to co-create AI+ EcosystemFrom “Technology Empowerment”(+AI) to “Data Empowerment” (AI+)AI has become a cornerstone in today’s business landscape. As a leading Global-Local Intelligent DICT Service Partner, CITIC Telecom CPC fully embraces the global digitalization era and proactively deploys the visionary “ICT-MiiND” framework. This framework seamlessly integrates an “innovative” technology stack, the power of algorithms and big data into the ICT service platform, spanning across “Cloud, Network, Security” and bolstering the element of “intelligence” through cutting-edge AI technology and AIOps modules. CITIC Telecom CPC believes in the transformative power of AI+, actively enhances the in-depth integration of AI across various industries, driving innovative projects from focusing on "Big Data Modelling" to "Small-Scale Scenario implementation". CITIC Telecom CPC has not only deployed extensive resources in AI technologies, but also deeply integrated generative AI applications across the full-chain technology modules, evolving from Technology Empowerment (+AI) to Data Empowerment (AI+), ushering in a new era driven by AI algorithms and big data. AI+ covers diverse AI technologies and applications, integrating big data platforms with small-scale scenario models. This approach covers data collection, storage, governance and mining through deep algorithms, machine learning, and intelligent analysis, to develop a range of intelligent applications and AI+ solutions. Tailored to meet enterprise needs, it provides a one-stop service from business transformation to strategic analysis, efficiently fulfilling enterprise requirements.“CITIC Telecom CPC strives to integrate large AI models with diverse AI+ applications in small-scale scenarios, empowering customers to advance intelligent capabilities, unlocking a realm of new possibilities,” said Mr. Brook Wong, CEO of CITIC Telecom CPCMr. Brook Wong, Chief Executive Officer of CITIC Telecom CPC, said, “Striding from +AI to AI+, CITIC Telecom CPC pioneers AI technologies with a steadfast commitment to ‘Innovation Never Stops', continuously optimizes “Cloud, Network, Intelligence, Security” "solutions, and accelerates the development of intelligence-enabled industries. We actively dedicate various resources and collaborate with partners to co-create a prosperous AI+ ecosystem, enrich technical infrastructure, lead our team and the industry towards a generative AI era driven by large language models, AI technologies, data and intelligent analysis. We strive to integrate large AI models with diverse AI+ applications in small-scale scenarios, empowering customers to advance intelligent capabilities, unlocking a realm of new possibilities.”Transformative AI+ Solutions Generate New Driving Force for Data & Security ApplicationsCITIC Telecom CPC stands at the forefront of AI technology. With decades of ICT experience and industry expertise, its data science and innovation teams are propelling AI innovations with cutting-edge algorithms and deep learning techniques, unlocking data value and accumulating a range of generative AI applications for enterprises. The team has developed a series of award-winning and groundbreaking AI+ solutions such as the newly-launched AI Databank and AI Pentest, driving operational efficiency and cost savings for enterprises.AI Databank – Powering Big Data with Fast, Accurate & Actionable Insights on a Single PlatformAI Databank integrates tremendous data from various business systems, collecting a wide array of internal and external information (such as CRM and ERP). Utilizing generative AI technology, enhanced by deep learning and big data training, it enables efficient data management and real-time report generation. Users can interact with the platform to quickly retrieve data and multiple real-time data charts through dialog-based data queries, empowering data-driven decision making. AI Databank also analyzes current and historical data to build forecast models, helping companies in future planning.AI Pentest – Redefining Vulnerability Assessment with Proactive, Secure and Intelligent AutomationCITIC Telecom CPC has successfully led the Security Operations Center (SOC) to enter into a new AI-driven era since the launch of "TrustCSI™ 3.0" cybersecurity solution at the end of last year. The newly-launched AI Pentest plays a key role in the security portfolio. It is a lightweight solution powered by unique AI-driven bypass techniques to expose WAF vulnerabilities, enabling automated routine task scheduling to simplify the assessment of internal network asset and empower enterprises to keep pace with the rapidly changing IT environment. AI Pentest functions as an AI robot cleaner which automatically operates 24x7, helping enterprises identify key vulnerabilities in the network and establish a robust defense against potential threats.CITIC Telecom CPC's AI+ solutions have been implemented in various industries to foster integration of diverse AI+ applicationsAI+ Reshapes Industries with New Scenarios & Business ValuesCITIC Telecom CPC's AI+ solutions have been implemented in various industries to foster integration of diverse AI+ applications, assisting customers in incorporating generative AI technology, deep learning and data applications, empowering digital transformation for enterprises including:- AI+TelecommunicationsCITIC Telecom CPC leverages AI+ innovation capabilities to create a "Network and Information Security Threats Identification Algorithm Model". Leveraging Natural Language Processing (NLP), algorithm models and innovative technical architecture, an "AI+ telecommunications industry" application platform is created. The platform uses large AI security industry models to learn and identify scams as well as the patterns and characteristics of fraudulent calls. A repetitive learning and training cycle, integrated deep learning capability, on a large amount of known scams and fraudulent calls data is conducted to automatically identify new suspicious calls in the network immediately, greatly improving the accuracy of analysis and interception, and generating values for the society.Use case: Developed by CITIC Telecom, “AI+ Digital and Intelligent Cross-border Mobile Network Security Service Platform” project has won multiple distinguished awards in the market. The project utilizes Voice/Signaling/SMS firewall interception to help major telecommunications service providers, mobile service operators and enterprise sector to enable real-time alerts and interception of illegal and fraudulent Voice/SMS messages. The cloud-based platform can be utilized in local and cross-border cross-network scenarios to identify SMS messages from international countries to mainland China and inter-country communications. The solution effectively helps citizens identify registered SMS senders to stop fraudsters from sending scam SMS messages masquerading as other companies or organizations.- AI+ ManufacturingAs the global manufacturing industry is booming rapidly, the integration with different new technologies is accelerating. Powered by AI, enterprises actively deploy multiple AI tools, diverse application scenarios and big data to build an innovative digital and intelligence ecosystem. Industry chain not only enhances production efficiency and quality, but also responds to changes efficiently through digital planning and intelligent analysis, and also devises more precise future operations plans. AI-driven data security solutions provide enterprises with instant responses to security threats,enhanced data and cyber security, secure and intelligent manufacturing environment, elevating intelligent production to a new level.Use case: CITIC Dicastal, the first lighthouse factory in the global aluminum wheel industry, paved the way for its transformation journey with pivotal support from CITIC Telecom CPC and its subsidiary China Entercom in establishing a secure, efficient and fast data highway. This initiative enabled seamless connectivity among its global factories and significantly enhanced its digital and intelligent operational management capabilities. Leveraging its industry expertise, insights and technical knowledge, CITIC Telecom CPC’s Innovation team empowered CITIC Dicastal to overcome networking and security challenges across various application scenarios, including AI-driven manufacturing, process optimization, R&D design, operational decision-making, green and low-carbon initiatives, facilitating to build a “Vertical Industry Big Model of Aluminum Automobile Parts”, enhancing production efficiency and intelligence. CITIC Telecom CPC’s “AI+ Cloud, Network, Security” not only empowers the intelligent enhancement of CITIC Dicastal's entire industry chain but also reinforces its "AI+ Security" capabilities, refines real-time response alerts and develops interconnection across global factories while effectively monitoring information security threats. These initiatives strengthen the cornerstone of information security, forging a new era for the “Lighthouse Factory”. - AI+ AutomobileDemand forecasting is the most important part of the digital and intelligent transformation of an enterprise's supply chain. CITIC Telecom CPC's "Intelligent Order Demand Forecasting Solution" utilizes AI technology to predict complex and fragmented materials, improving the forecasting accuracy of order demand for vehicle models, and dynamically adjusting materials and production capacity planning.Use case: Headquartered in Europe, a world-renowned automobile parts supplier operates in 29 countries and regions, and serves various well-known automobile brands around the world. CITIC Telecom CPC’s "Intelligent Order Forecast Solution" enables customers to increase forecast accuracy to over 80%, optimize supply chain management, and achieve cost reduction and efficiency improvement.- AI+ RetailThe retail industry is undergoing a large-scale implementation of AI applications. CITIC Telecom CPC's “Cloud, Network, Intelligence, Security” integrated platform help enterprises build a secure, efficient and flexible digital infrastructure, enhance network transmission, information security, cloud computing resources and AI platform capabilities through dynamic perception, predictions and intelligent alerts for networks and applications. Harnessing AI technology and data analysis, we facilitate enterprises in expediting their digital transformation. By enhancing traditional workflow designs with scenario templates like customer service management, R&D evaluation, and marketing reports, strategically utilize big data to reinvent business to seize market opportunities.Use case: A world-renowned cosmetics retail brand has been committed to scientific research and innovation for many years. CITIC Telecom CPC's “AI+ Cloud, Network, Security” integrated platform helps to build a secure, efficient and flexible digital infrastructure. The dynamic perception of networks and applications, predictions and intelligent alerts for networks and applications assist the cosmetics retail brand to realize the values of “In Shanghai, For China, and Connect the World" to meet the needs of consumers in mainland China and around the world.To know more information aboutFrom “Technology Empowerment” (+AI) to “Data Empowerment” (AI+),please visit https://www.citictel-cpc.com/en-hk/ict-miindAbout CITIC Telecom CPCWe are CITIC Telecom International CPC Limited (“CITIC Telecom CPC”), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serving multinational enterprises the world over by addressing their specific ICT requirements with highly scalable tailored solutions built upon our flagship technology suites, comprising TrueCONNECT™ private network solutions, TrustCSI™ information security solutions, DataHOUSE™ cloud data center solutions, and SmartCLOUD™ cloud computing solutions.With the motto “Innovation Never Stops,” we leverage innovative technologies to boost technology empowerment (+AI). Embracing AI, AR, Big Data, IoT, and other cutting-edge emerging technologies we aim to unlock technical potential. By integrating deep learning and intelligent data analysis technologies, we transform these technologies into data empowerment (AI+) generative applications, reshaping the Intelligence Operation Journey of enterprises.With our Global-Local capabilities, we are committed to providing our customers with one-stop-shop ICT solutions with superior quality. Having a worldwide footprint across nearly 160 countries and regions, including Asia, Europe and America, Africa, the Middle East, and Central Asia, our global network resources connect nearly 170 points of presence (POPs), 60+ SDWAN gateways, 21 Cloud service centers, 30+ data centers, and three dedicated 24x7 Security Operations Centers (SOCs). We are certified with a series of international certifications, including SD-WAN Ready, ISO 9001, 14001, 20000, 27001, and 27017, to ensure our services compliance with international standards and resources for enterprises. We offer local professional services, superior delivery capabilities as well as exceptional customer experience and best practices through our global presence and extensive industry know-how, becoming a leading integrated intelligent ICT service provider to enterprise customers.For more information, please visit www.citictel-cpc.comMedia Contacts:Catherine YuenCITIC Telecom CPC(852) 2170 7536Email: catherine.yuen@citictel-cpc.com Copyright 2024 ACN Newswire via SeaPRwire.com.
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The 15th Turkish-Arab Economic Forum (TAFF 2024) took place at the Four Seasons Bosphorus Hotel in Istanbul ACN Newswire

The 15th Turkish-Arab Economic Forum (TAFF 2024) took place at the Four Seasons Bosphorus Hotel in Istanbul

ISTANBUL, October 18, 2024 - (ACN Newswire via SeaPRwire.com) - The 15th Turkish-Arab Economic Forum (TAFF 2024), aimed at deepening relations between Turkiye and the Gulf countries and defining joint strategies for the region, took place yesterday in Istanbul.The Forum saw the attendance of many key figures from the Gulf countries, including Kuwait's Minister of Finance Noora Suleiman Salem Al-Fassam, Iraq's Minister of Finance Taif Sami Mohammed, Egypt's Deputy Minister of Finance Ahmed Kouchouk, Tunisia's Minister of Economy and Planning Samir Abdelhafidh, Libya's Minister of Finance Dr Kalid Al-Mabrouk, President of the Turkish Investment Fund Baghdad Amreyev, Secretary General of the Egyptian Federation of Arab Chambers Dr Khaled Hanafy, Regional Director of the Saudi International Finance Corporation Fawaz Bilbeisi, Director of the World Bank GCC Cooperation Safaa El Tayeb El-Kogali, Partner at the UK's DWF Solomon Ebere, Board Member of the Qatar Chamber Mohamed Bin Ahmed Al Obaidly, and Vice President of International Business Development of the United Arab Emirates Khalid Al Marzooqi.Turkiye's Minister of Treasury and Finance Mehmet Simsek evaluated global and regional strategies.In his speech at the 15th Turkish-Arab Economic Forum, Minister of Treasury and Finance Mehmet Simsek highlighted the decline in inflation and the slowdown in monetary policies. He emphasized that global trade will continue in November, pointing out that while there are challenges, there are also opportunities in this process. Mehmet Simsek further noted that he expects an increase in cooperation across various sectors, emphasizing that partnerships in energy, manufacturing, technology, and machinery are crucial for realizing the region's potential and he expressed his support for diversification strategies.Dr. Erkan Kork stated that Turkiye and the Gulf countries could build a shared future.Speaking at the 15th Turkish-Arab Economic Forum, Dr. Erkan Kork, Chairman of the Board of BankPozitif, highlighted that the participating countries share the same geography, history, and values, and emphasized that joint steps would be stronger and more effective. He noted that building a shared future with the available know-how, technology, and investments is vital for unlocking the region's potential.BankPozitif Chairman Dr Erkan Kork at the 15th Turkish Arab Economic ForumExpressing pride in Turkiye's positioning as a fintech hub, Dr Erkan Kork predicted that Turkiye would play a leading role on the global stage in various fields in the near future. He also stressed the importance of forums, fairs and events like this for fostering relationships between the business world and governments of different countries.In his speech, Dr Erkan Kork pointed out that Turkiye is in a very strong position in terms of innovation and information technology, noting that while processing times in many sectors in Europe are long, they are much shorter in Turkiye. Dr. Erkan Kork also highlighted Turkiye's high level of competitiveness in recent years.At the forum, which had a high participation rate, Fatih Karahan, Governor of the Central Bank of the Republic of Turkiye, Burak Dagloglu, Member of the Board of Directors of the Turkiye Wealth Fund, and Rfat Hisarckloglu, President of the Union of Chambers and Commodity Exchanges of Turkiye, were also among the speakers.Source: BankPozitif, https://www.bankpozitif.com.trSait Inanc, +90533 722 49 69, info@bankpozitif.com.tr* This press release is issued through EuropeNewswire.Net (www.europenewswire.net) and distributed by EmailWire (www.emailwire.com) – the gloabal newswire that provide Press Release Distribution with Guaranteed Results™. Copyright 2024 ACN Newswire via SeaPRwire.com.
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Everest Medicines’ Stock Price Rises by 20% as Profit Potential Drives Valuation Recovery

HONG KONG, Oct 18, 2024 - (ACN Newswire via SeaPRwire.com) - Everest Medicines (1952.HK) closed today with a 20.46% increase, hitting a high of HKD 28.6. The company's stock price has been steadily rising since the release of its interim results, with today's trading volume reaching HKD 291 million. Market updates show that BOCOM International released a report assigning an 'outperform' rating to the Chinese pharmaceutical sector, with Everest Medicines being one of the key recommended stocks.Recently, the Hong Kong government released a policy address with numerous measures aimed at attracting overseas capital to Hong Kong, which has been a positive driver for the Hong Kong stock market. Additionally, negative sentiment in the innovative drug sector is gradually fading, and the market is now focusing on companies with profit potential and valuation recovery resilience.According to Everest Medicines' 2024 interim financial report, the company saw a significant revenue increase in the first half of the year, reaching RMB 302 million, representing a 158% growth compared to the second half of last year, marking the first time the company has achieved commercial profitability. The company's core products, Nefecon® and XERAVA® (the world's first-in-class fluorocycline antibiotic), have already been commercialized, with three products expected to be launched by the end of the year. In terms of innovative research and development, Everest Medicines owns an mRNA platform with full intellectual property rights and global benefits, dedicated to developing both preventive and therapeutic mRNA products. The company expects to achieve full-year sales of RMB 700 million by 2024 and aims to break even by the end of 2025.As BOCOM International released a report, it highlighted that innovative drug companies with abundant short-term catalysts, strong profit growth potential, or clear break-even timelines, along with significant valuation recovery potential, are worth close attention. Investors are also advised to focus on small and mid-sized innovative pharmaceutical companies whose market value diverges significantly from their fundamentals. These companies are expected to experience a strong rebound as liquidity improves.Over the past two months, Everest Medicines' stock has risen by over 65%. Recently, the unexpected adjustments in domestic monetary policy further energized capital markets. The continuous rise in both Hong Kong and mainland Chinese stock markets highlights the innovative drug sector as a key area of focus, given its long-term valuation bottoming and significant growth potential, making it a highly attractive investment in this market rally. Copyright 2024 ACN Newswire via SeaPRwire.com.
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China Medical System: First Ruxolitinib Cream’s Prescriptions for Vitiligo Issued in the Greater Bay Area ACN Newswire

China Medical System: First Ruxolitinib Cream’s Prescriptions for Vitiligo Issued in the Greater Bay Area

SHENZHEN, CHINA, Oct 18, 2024 - (ACN Newswire via SeaPRwire.com) - China Medical System Holdings Limited (the “Group” or “CMS”) is pleased to announce that on 18 October, the first batch of prescriptions of ruxolitinib phosphate cream (the “ruxolitinib cream” or the “Product”) for qualified vitiligo patients were issued in the Greater Bay Area, at Zhongshan Chen Xinghai Hospital of Integrated Traditional Chinese and Western Medicine, Foshan Fosun Chancheng Hospital, and Dongguan Songshan Lake Tungwah Hospital. The Product’s new drug application (NDA) was approved by the Pharmaceutical Administration Bureau (ISAF) of Macau on 11 April 2024, and subsequently the Product was approved by the Guangdong Provincial Medical Products Administration on August 19 through the "Hong Kong and Macau Medicine and Equipment Connect" policy, which officially introduced ruxolitinib cream for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age, providing a novel treatment option for patients with relevant indication into designated medical institutions in the Mainland of Greater Bay Area.In addition, on 24 September, the NDA for vitiligo indication of ruxolitinib cream has been accepted by the National Medical Products Administration of China (NMPA). In accordance with the relevant regulations of the drug real-world data application pilot program in the Hainan Boao Lecheng International Medical Tourism Pilot Zone (the “Pilot Zone”), CMS has conducted a real-world study on ruxolitinib cream in China. The results have shown positive efficacy, which is consistent with the key outcomes of global pivotal clinical studies. All secondary efficacy endpoints showed a trend of benefit consistent with the primary efficacy endpoint, and the treatment effect for vitiligo continued to improve with longer treatment duration. Meanwhile, through the safety monitoring data of the Pilot Zone, no new safety events have been identified. Adverse events mostly had severity levels of grade 1 or 2. No adverse event (AE) leading to discontinuation or withdrawal, and no serious adverse event (SAE) related to the study drug occurred.If the Product is successfully approved for marketing in Mainland China, it will be the first prescription drug approved by NMPA for repigmentation in vitiligo, bringing this novel treatment hopes for Chinese vitiligo patients.Furthermore, on 12 August 2023, the Product was approved by Hainan Medical Products Administration for Urgent Clinical Import, and officially became available to applicable patients in the Pilot Zone on August 18, for the topical treatment of non-segmental vitiligo in adults and adolescents aged 12 and above with facial involvement. Benefiting from the Early and Pilot Implementation Policy granted by the state to Hainan Free Trade Port and the Pilot Zone, patients with vitiligo in China can apply for the Product in Boao Super Hospital first and receive treatment from the expert team. As of 30 June 2024, more than 3,200 patients have been treated with ruxolitinib cream in Boao Super Hospital.CMS has always been patient-oriented and innovation-driven based on clinical needs, continuously striving to improve drug accessibility. Benefited from the "Hong Kong and Macau Medicine and Equipment Connect" policy, ruxolitinib cream was approved for use in the Greater Bay Area and completed its first batch of prescriptions, shortening the time difference for Chinese vitiligo patients to use innovative drug and benefiting more domestic patients. Looking forward to the future, the Group will continuously strive to meet the unmet needs of Chinese patients, continuously explore novel drugs with international quality, and efficiently promote products’ clinical development and commercialization, so as to bring more quality pharmaceutical products through differentiated innovation-breakthrough, to safeguard the health and life-quality of patients.About ruxolitinib creamRuxolitinib cream (Opzelura), a novel cream formulation of Incyte’s selective JAK1/JAK2 inhibitor ruxolitinib, is approved by the U.S. Food & Drug Administration for the topical treatment of nonsegmental vitiligo in patients 12 years of age and older. As of now, it is the first and only treatment for repigmentation approved for use in the United States[1]. Ruxolitinib cream (Opzelura) is also approved in the U.S. for the topical short-term and non-continuous chronic treatment of mild to moderate atopic dermatitis (AD) in non-immunocompromised patients 12 years of age and older whose disease is not adequately controlled with topical prescription therapies, or when those therapies are not advisable[2]. In Europe, ruxolitinib cream (Opzelura) is approved for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age[3].On 2 December 2022, the Group through a subsidiary of the Company, a dermatology medical aesthetic company (“CMS Skinhealth”) entered into a Collaboration and License Agreement (the “License Agreement”) with Incyte for topical formulations of ruxolitinib for the treatment of autoimmune and inflammatory dermatology diseases. In accordance with the License Agreement, the Group through CMS Skinhealth received an exclusive license to develop, register and commercialize the Product in Mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region, Taiwan Region and eleven Southeast Asian countries (Indonesia, Philippines, Vietnam, Thailand, Myanmar, Malaysia, Cambodia, Laos, Singapore, Timor-Leste and Brunei Darussalam) (the “Territory”) and a non-exclusive license to manufacture the Product in the Territory. The License Agreement commenced on its effective date and has a royalty term of ten years from the date of the commercial sale of the Product in the Territory (the “Royalty Term”). Upon the expiration of the Royalty Term, the License Agreement may be renewed for a period of ten years thereafter (the “Initial Extended Royalty Term”) as per certain conditions defined in the License Agreement. Upon the expiration of the Initial Extended Royalty Term, the License Agreement may be extended for a period otherwise agreed by both sides as per certain conditions defined in the License Agreement.Incyte has worldwide rights for the development and commercialization of the Product, marketed in the United States and Europe as Opzelura®. Opzelura and the Opzelura logo are registered trademarks of Incyte.About vitiligoVitiligo is a chronic autoimmune disease characterized by depigmentation of the skin, which results from the loss of pigment-producing cells known as melanocytes. It is estimated that there are approximately 14 million vitiligo patients in China[4]. Non-segmental vitiligo patients account for approximately 85% of them. Topical corticosteroids (TCS) and calcineurin inhibitors (CI) are used off-label for non-segmental vitiligo, however, these therapies have clinical deficiencies with long-term adverse reactions of long-term treatment or limited efficacy[5,6].About CMSCMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development of its advantageous specialty fields and expand business boundaries. While strengthening the competitiveness of the cardio-cerebrovascular/gastroenterology business, CMS independently operates its dermatology and medical aesthetics business, and ophthalmology business, aiming to gain leading positions in specialty therapeutic fields, whilst enhancing the scale and efficiency. At the same time, CMS has expanded its business territory to the Southeast Asian market, striving to become a "bridgehead" for global pharmaceutical companies to enter the Southeast Asian market, further escorting the sustainable and healthy development of the Group.Reference:1. Drug approval information can be found on the FDA official website, as follows: https://www.fda.gov/drugs/news-events-human-drugs/fda-approves-topical-treatment-addressing-repigmentation-vitiligo-patients-aged-12-and-older2. Drug approval information can be found on the Incyte official website, as follows: https://investor.incyte.com/news-releases/news-release-details/incyte-announces-us-fda-approval-opzeluratm-ruxolitinib-cream3. Drug approval information can be found on the EMA official website, as follows: https://www.ema.europa.eu/en/medicines/human/EPAR/opzelura4. Ezzedine K, Eleftheriadou V, Whitton M, van Geel N. Vitiligo. Lancet. 2015;386(9988):74-84. doi:10.1016/S0140-6736(14)60763-75. Consensus on the diagnosis and treatment of vitiligo (2021 version)6. Kubelis-López DE, Zapata-Salazar NA, Said-Fernández SL, Sánchez-Domínguez CN, Salinas-Santander MA, Martínez-Rodríguez HG, Vázquez-Martínez OT, Wollina U, Lotti T, Ocampo-Candiani J. Updates and new medical treatments for vitiligo (Review). Exp Ther Med. 2021 Aug;22(2):797. doi: 10.3892/etm.2021.10229. Epub 2021 May 25. PMID: 34093753; PMCID: PMC8170669.CMS Disclaimer and Forward-Looking StatementsThis press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.Media ContactChina Medical System Holdings Ltd.CMS Investor RelationsWebsite: https://web.cms.net.cn/en/home/Source: China Medical System Holdings Ltd. Copyright 2024 ACN Newswire via SeaPRwire.com.
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Eco Expo Asia opens at AsiaWorld-Expo in late October ACN Newswire

Eco Expo Asia opens at AsiaWorld-Expo in late October

- Eco Expo Asia is expected to attract over 300 exhibitors from 11 countries and regions with new exhibitor groups from Anhui Province and Norway- The Expo will feature three focal points: New Energy, Waste Management and Circular Economy, and ESG-related Services, in pursuit of achieving the dual carbon goals- Government officials, industry experts and business leaders from various countries and regions, including Belt and Road countries will attend the Eco Asia Conference- Talks and workshops on the last day of the Expo (2 November) will be open to the public for freeHONG KONG, Oct 17, 2024 - (ACN Newswire via SeaPRwire.com) - Eco Expo Asia 2024, jointly organised by the Hong Kong Trade Development Council (HKTDC) and Messe Frankfurt (HK) Ltd and co-organised by the Environment and Ecology Bureau of the Government of the Hong Kong Special Administrative Region (HKSAR), will be held at AsiaWorld-Expo from 30 October to 2 November. The last day of the event will be open to the public for free.To extend the sourcing journey, exhibitors and buyers worldwide can connect via the Click2Match virtual business matching platform from 23 October to 9 November.HKTDC Assistant Executive Director Jenny Koo said: "In the face of climate change, countries and regions have been actively propelling carbon reduction policies and sustainable development. China, for instance, set carbon reduction and neutrality goals in 2020 and has been advocating the development of new quality productive forces. The Hong Kong SAR Government is also committed to achieving carbon neutrality before 2050, and the development of related industries has become increasingly diversified, laying a strong foundation for Hong Kong’s sustainable development. Themed Fostering Green Innovations for Carbon Neutrality, the 19th edition of Eco Expo Asia will bring together international exhibitors and industry professionals to showcase cutting-edge innovations and technologies that aim to achieve dual carbon goals.”Speaking at the press conference, the Deputy Director of the Environmental Protection Department of the HKSAR Government, Fong Kin-wa, expressed: "We hope the Eco Expo Asia could share with visitors and exhibitors from around the world, including Belt and Road countries and ASEAN countries, the latest green innovation for achieving carbon neutrality, with a view to promoting exchange and cooperation between governments and trade sectors on boosting green & low-carbon transformation, achieving sustainable development, and leading Hong Kong towards carbon neutrality.”Converging international exhibitors and government officials at Eco Expo AsiaThis year’s Expo is expected to attract over 300 exhibitors from 11 countries and regions including Mainland China, Hong Kong, Macao, Taiwan, Singapore, Germany, Finland, Norway, the Netherlands, the United States and Canada. Several provinces and cities from Mainland China will form pavilions, including the return of Guangzhou and Shenzhen. The Anhui Pavilion will debut with technologies focused on air quality, water treatment and quality management as well as new energy materials and equipment. Supported by Innovation Norway, the debut group participation from Norway will showcase technologies for water quality management and waste treatment.The Eco Asia Conference, held during the first three days of the exhibition, will provide a platform for government officials, industry experts and business leaders from various countries and regions to discuss key trends, including energy projections, green building technologies and the circular economy. The conference is supported by the Ministry of Ecology and Environment, National Development and Reform Commission, and Ministry of Industry and Information Technology of the People’s Republic of China. Officials from Belt and Road countries, including Malaysia, Laos, Saudi Arabia, Myanmar, Brunei and Vietnam will also attend the conference.Three focal points in pursuit of dual carbon goalsTo achieve dual carbon goals, the development of green energy and green transportation has become a global trend. New energy is a focus of this year’s exhibition and many innovative new energy-related products and technologies will be featured. For example, Hong Kong’s first hydrogen fuel cell street-cleaning vehicle will be showcased at the booth hosted by the Environment and Ecology Bureau in conjunction with other HKSAR government units.The Inner Mongolia Pavilion will showcase cutting-edge solutions in environmental protection, ecological restoration and new energy. Innovative technical solutions, such as hydrogen purification systems and carbon capture and storage equipment, will be highlighted at the Canada Pavilion. In the Green Transportation zone, GMI Motors Ltd and first-time exhibitor Xiamen Golden Dragon Bus Co. Ltd will present a variety of electric vehicles. Chun Yang International (HK) Company Ltd will demonstrate fast charging and mini wall-mounted EV chargers catering to different needs.Waste Management and Circular Economy is a second focal point of the Expo, with exhibitor Smart Farming HK Ltd showcasing fish feed made from food waste and a sustainable fish farming concept. First-time exhibitor Nanda (Hong Kong) Technology Corporation Ltd will feature a food waste biodegradation machine that can process up to 36,000 kg of food waste per day.The Sustainable Restaurant Awards 2024, the first of its kind in Hong Kong's F&B industry to recognise restaurants based on their carbon footprint, will be presented on the third day of the Expo.The third focal point of the Expo is ESG-related services which is experiencing strong demand. Several world-leading certification and consultancy companies will exhibit for the first time, including SGS Hong Kong Ltd, Intertek Testing Services Hong Kong Ltd, TUV Rheinland Hong Kong Ltd and BSI Pacific Ltd to present their testing and certification services as well as ESG consulting and training programmes. ESG AI, an innovative tool launched by China Energy Conservation & Environmental Protection (Hong Kong) Investment Co. Ltd, makes use of big data analysis and other technologies to generate regulatory-compliant ESG reports in one click.Nurturing talent to inject fresh energyEco Expo Asia has long been a platform for start-ups to showcase their latest innovations. Hong Kong Science and Technology Parks Corporation will showcase products and technologies from 10 start-ups related to green transport, circular economy and energy efficiency.In the popular Start-up Zone, exhibitor Ezygreenpak Ltd will demonstrate its patented water-soluble non-woven packaging material that can be completely dissolved in 90°C hot water without leaving any harmful residue. BSF Innovation Ltd's organic green building powder, consisting of fibre and calcium extracted from insect shells and food waste, can be blended with traditional building materials to make eco-bricks, reducing the manufacturing process carbon emissions by around 40%.A series of seminars and workshops on Public DayTo encourage residents to adopt green living practices, talks and workshops will be held on the last day of the Expo (2 November), which are free and open to the public. A highlight will be the Dialogue with the Secretary for Environment and Ecology for school students. Experts will share their strategies and experience in tackling extreme weather. The public can also participate in a variety of green workshops and shop for green products at Green Mart.Photo download: https://bit.ly/3BWSrpjJenny Koo, Assistant Executive Director of the HKTDC, introduced Eco Expo Asia highlights at the press conference. She said Hong Kong’s environmental-related industries were expanding in diversity, establishing the groundwork for the city’s sustainable development.The Chief Executive’s 2024 Policy Address released yesterday emphasises the need to promote the development of new energy and expand the electric vehicle charging network. Ms Koo stated that the HKTDC has been committed to promoting sustainable development in the business sector. In October, the HKTDC will work closely with the Environmental and Ecology Bureau to hold Eco Expo Asia, and provide support services and sourcing platforms to assist industry players in promoting and sourcing green products and solutions. In addition to Eco Expo Asia, the HKTDC aims to facilitate international connections through large-scale flagship events, promoting Hong Kong's role as an international centre for green finance and green technologyJenny Koo, Assistant Executive Director, HKTDC (centre); Fong Kin-wa, Deputy Director of the Environmental Protection Department of the HKSAR Government (left), and Judy Cheung, Deputy General Manager, Messe Frankfurt (HK) Ltd (right), attended the press conferenceGMI Motors Ltd displayed a brand-new, 32-seater electric bus with a large capacity batteryStart-up Ezygreenpak Ltd demonstrated its innovative water-soluble non-woven packaging material that can completely dissolve in 90°C hot waterTen companies resident at Hong Kong Science and Technology Parks Corporation sites will take part in the exhibition. Growgreen Ltd and One Energy (HK) Ltd showcased products related to circular economy and green transportation at the press conferenceSmart Farming HK Ltd introduced food waste recycled feed and fish farming sustainabilityWebsiteEco Expo Asia: www.ecoexpoasia.comMedia enquiriesPlease contact the HKTDC’s Communications and Public Affairs Department:Stanley SoTel: (852) 2584 4049Email: stanley.hp.so@hktdc.orgClayton Lauw Tel: (852) 2584 4472 Email: clayton.y.lauw@hktdc.orgThe HKTDC’s Media Room: http://mediaroom.hktdc.com/enAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences, and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.Background information on Messe FrankfurtThe Messe Frankfurt Group is one of the world’s leading trade fair, congress and event organisers with their own exhibition grounds. With a workforce of some 2,160 people at its headquarters in Frankfurt am Main and in 28 subsidiaries, it organises events around the world. Group sales in financial year 2022 were around €454 million. We serve our customers’ business interests efficiently within the framework of our Fairs & Events, Locations and Services business fields. One of Messe Frankfurt’s key strengths is its powerful and closely knit global sales network, which covers around 180 countries in all regions of the world. Our comprehensive range of services – both onsite and online – ensures that customers worldwide enjoy consistently high quality and flexibility when planning, organising and running their events. We are using our digital expertise to develop new business models. The wide range of services includes renting exhibition grounds, trade fair construction and marketing, personnel and food services. Sustainability is a central pillar of our corporate strategy. Here, we strike a healthy balance between ecological and economic interests, social responsibility and diversity.For more information, please visit our website at: www.messefrankfurt.com/sustainability. With its headquarters in Frankfurt am Main, the company is owned by the City of Frankfurt (60 percent) and the State of Hesse (40 percent). For more information, please visit our website at: www.messefrankfurt.com Copyright 2024 ACN Newswire via SeaPRwire.com.
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Participation in the Multilateral System Remains High as Performance Drops, New Index Finds ACN Newswire

Participation in the Multilateral System Remains High as Performance Drops, New Index Finds

Washington, D.C., Oct 18, 2024 - (ACN Newswire via SeaPRwire.com) - Today marks the launch of the second edition of the Multilateralism Index from the International Peace Institute (IPI) and the Institute for Economics & Peace (IEP). The Index reveals that states remain engaged in the global multilateral system even as it increasingly struggles to address the crises it faces.Multilateralism Index 2024 ReportAn image of the front cover of the Multilateralism Index 2024 ReportKey resultsThe performance of the multilateral system declined across all five domains examined.Peace and security showed the steepest deterioration in performance, with the number of armed conflicts rising from 39 in 2013 to 55 in 2022.Climate action and human rights also saw significant declines in performance, despite increased engagement from member states.Participation in multilateral institutions has increased in most domains, even as performance has declined, indicating a shift from cooperation to contestation.Inclusivity improved across all domains, with steady growth in NGO engagement and women's representation in UN bodies.The Multilateralism Index 2024 presents a complex picture of global cooperation over the past decade, examining five crucial domains: Peace and Security, Human Rights, Climate Action, Public Health, and Trade. It reveals a contradiction: while participation in the multilateral system has largely held steady or even increased, its effectiveness in addressing global challenges has declined.Dr. Adam Lupel, IPI Vice President & COO said: "Over the past decade, we've witnessed a paradox in multilateralism. While participation in international institutions has largely held steady or even increased, the performance of the multilateral system in addressing global challenges has declined. This suggests a shift from cooperation to contestation at a time of transformation and rising global crises."The peace and security domain experienced the most significant deterioration in performance. Active armed conflicts increased from 39 in 2013 to 55 in 2022, with a notable rise in internationalized conflicts. The UN Security Council has seen more frequent use of the veto power, constraining its ability to respond to crises. However, states have not broadly pulled back from the UN peace and security architecture, and commitments in some areas, such as multilateral peacebuilding, have increased.Climate action presents another contradiction. Despite near-universal participation in the Paris Agreement and growing climate commitments, these commitments continue to fall short of necessary targets. Projections show an 8.8% increase in emissions by 2030, in stark contrast to the 43% decrease required to meet the critical 1.5°C target.The human rights domain exhibits a counterintuitive pattern. While engagement with UN human rights mechanisms has increased, global human rights protections have steadily declined. Most strikingly, members of the UN Human Rights Council consistently scored lower on human rights measures than the global average, indicating that many states are engaging less to advance human rights than to shape the direction of the system.Multilateral action on public health was significantly shaped by the COVID-19 pandemic, which reversed years of progress, particularly in areas such as childhood immunization. It also put the shortcomings of the global public health system in stark relief, spurring negotiations on an international pandemic agreement aimed at strengthening preparedness and response capabilities for future health crises.Trade is the one area where both performance and participation decreased. The paralysis of global trade negotiations and breakdown in adherence to global trade rules signal a shift away from multilateral approaches. This trend, combined with growing geopolitical tensions, creates challenges for global economic cooperation.Steve Killelea, Founder & Executive Chairman of IEP, commented: "The Multilateralism Index 2024 reveals a challenging trend: while engagement in global institutions has increased, their effectiveness has declined across key areas. There is a need to revitalize our multilateral system to address today's complex challenges."Despite these challenges, the Index highlights positive developments, particularly in the area of inclusivity. NGO engagement with the UN system has grown, and women's representation has increased across many UN bodies. However, the Global South remains underrepresented in many areas, suggesting that geographic inclusivity remains a work in progress.As the world contends with interconnected crises, from conflict to climate change, the Multilateralism Index 2024 provides valuable insights into the current state of global cooperation. It underscores the need for thoughtful reform to ensure that multilateral institutions can effectively address the complex challenges of the 21st century.Contact InformationMike KoslowskiIEP Senior Communications Advisormkoslowski@economicsandpeace.org+61418410531Related FilesMultilateralism Index 2024 - Full Press Release (1)Multilateralism Index 2024 - Full Press Release (1)SOURCE: International Peace Institute Copyright 2024 ACN Newswire via SeaPRwire.com.
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DPC Dash – Domino’s Pizza China Drives Sales and Profit Growth and Optimizes Shareholder Structure

HONG KONG, Oct 18, 2024 - (ACN Newswire via SeaPRwire.com) - As recent economic stimulus measures by the government of China boost consumer confidence, and propel a rally in domestic stock markets, consumption stocks have been leading the surge, closing strong in the third quarter of 2024 strong. DPC Dash – Domino’s Pizza China, ("DPC Dash" or the "Company") (1405.HK), Domino's Pizza's exclusive master franchisee in the China Mainland, the Hong Kong Special Administrative Region of China, and the Macau Special Administrative Region of China, has further optimized shareholder structure to deliver long-term and significant value to shareholders.In the third quarter of 2024, the Company announced its inclusion in the Hong Kong Hang Seng Composite Index and the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect Programs, underscoring its market credibility and growth potential. The inclusion in both a major index and stock connect programs offered more liquidity. As of October 15, 2024, the company’s stock price has surged over 60% since its IPO on March 28, 2023, significantly outperforming the Hang Seng Composite Index during the same period[i]. In order to further optimize shareholder structure and enhance the Company’s trading liquidity, Domino’s Pizza LLC, an indirect wholly-owned subsidiary of Domino’s Pizza, recently announced an agreement to sell an aggregate of 10,000,000 of the Company’s shares, or 7.66% of its total issued share capital as of October 17, 2024, to purchasers including institutional investors through off-market block trades. Following this share sale, Domino’s Pizza LLC retains 6.21% of total issued share capital with a lock-up period of 90 days for its remaining shares. The enduring relationship between DPC Dash and DPZ remains robust. The allocation is an opportunity for DPC Dash to further improve liquidity and bring new dynamics to its shareholder structure. Notable international banks have rated DPC Dash as “Buy” or “Outperform”, showing confidence in the company’s fundamentals and stock performance.DPC Dash continues to demonstrate its market prowess with strategic growth, operational efficiency and customer satisfaction. The Company’s remarkable success can be largely attributed to its effective 4D strategy of Development, Delicious pizza at value, Delivery, and Digital. This comprehensive approach has enabled the company to serve high-quality, value-for-money pizzas to a steadily growing customer base. From 2021 to 2023, DPC Dash realized a Compounded Annual Growth Rate (CAGR) of 37.6% in revenue. In the first half of 2024, revenue reached RMB2.04 billion while both reported and adjusted net profit after tax turned positive for the first time.The Company’s “Go Deeper, Go Broader” strategy has been instrumental in its growth. As of September 30, 2024, DPC Dash operates 978 stores across 33 cities, reflecting a robust expansion with 210 new stores opened year-to-date. The combined total of net new stores added this year, stores currently under construction, and stores with signed agreements has reached approximately 100% of the full-year opening target for 2024. It is confident in maintaining this strong expansion dynamic, with plans to open its 1000th store in the fourth quarter of 2024 and open 300 to 350 new stores annually in 2025 and 2026. The store network expansion is supported by strong performance metrics, including holding 28 of the top 30 positions for first 30-day sales among Domino’s global network of over 21,000 stores as of the end of the third quarter of 2024. Since the current management took the helm in the third quarter of 2017, DPC Dash has since achieved 29 consecutive quarters of positive same-store sales growth (SSSG) despite market and industrial turbulence. Meanwhile, the company’s digital initiatives played a crucial role in driving customer engagement and loyalty. The company’s loyalty program boasted 21.7 million members as of September 2024, with 11 million new customers placing their first orders in the past 12 months with Domino’s Pizza China.Looking ahead, DPC Dash remains focused on its expansion plans and operational enhancements, aiming for sustainable, profitable growth in China’s vast pizza market through continual innovation and optimization. The company’s resilient business model and strategic initiatives position it well for continued success in this competitive industry. The company will continue to strengthen its market position and add value to consumers by constantly enhancing product quality, service level, and customer experience.[i] Based on closed stock price of DPC Dash and HSCI of March 28, 2023 and October 15, 2024. Copyright 2024 ACN Newswire via SeaPRwire.com.
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Kincora Announces Strategic Investment & Expanded Partnership with Fleet Space ACN Newswire

Kincora Announces Strategic Investment & Expanded Partnership with Fleet Space

Kincora to raise A$1.27 million (C$1.19 million) via strategic investment by Fleet Space, existing major shareholder, directors and new investors participationRaise conducted at A$0.038 (C$0.036) with 1:2 attaching option at A$0.075 (C$0.07)Fleet Space to invest A$400,000 (C$373,832) to take initial ~4% strategic stake in KincoraExpanded partnership with Fleet Space including Kincora's recently secured and wholly owned Wongarbon ProjectMultiphysics survey agreement comprising Ambient Noise Tomography (ANT) and gravity surveys with Fleet Space's end-to-end mineral exploration solution, ExosphereFleet Space has the right to fund a minimum 2,000m drill program to earn a 20% stake in the ProjectThe Wongarbon Project is interpreted to host one of the last remaining untested and large intrusive complexes of the Macquarie Arc situated on an interpreted common transverse structure that is a key control to the 14.7Moz gold equivalent inventory within Alkane Resources Limited's Northern Molong Porphyry Project (NMPP) 1Final interpretations are pending for a recent Fleet Space ANT survey at the NMPP and multiphysic surveys at the Nyngan Project ahead of imminent drill testingMelbourne, Australia--(ACN Newswire via SeaPRwire.com - October 16, 2024) - Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (Kincora or the Company) is pleased to have expanded its partnership with Fleet Space Technologies Pty Ltd (Fleet Space) to include: (i) a listed equity investment, (ii) multiphysics surveys at the Wongarbon Project to identify and refine targets, and, (iii) the right to drill test targets to earn an asset level interest in the Wongarbon Project.Fleet Space is Australia's fastest growing company 2 and widely recognised as Australia's leading space exploration company. Fleet Space seeks to revolutionise mineral exploration with its vertically integrated technology stack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition and AI to map mineral systems in real-time to streamline exploration and improve success rates for new economic discoveries.The Wongarbon Project has never been drilled, is located in the interpreted extension of the Northern Molong Belt of the Macquarie Arc, NSW, and is considered to be highly prospective for a new large-scale porphyry copper-gold complex and series of discoveries.Sam Spring, President and CEO of Kincora, commented: "Kincora and Fleet Space strongly believe the Wongarbon Project has the potential to be a new porphyry district and it is a prime candidate for major discovery. We are very pleased to have entered this innovative and multiple phase agreement. The results of our recent multiphysics surveys at our Nyngan Project are pending and the structure of this expanded partnership with Fleet Space provides unique alignment. We look forward to shortly advancing the first new exploration at the Wongarbon Project in almost 30-years with a pathway for refining and drilling true and large-scale virgin targets. This is Kincora's fifth recent partnership further demonstrating how we work with technical partners to apply industry leading exploration techniques to systematically advance, fund and de-risk our project pipeline of highly prospective porphyry targets. Further deals and partnerships are proposed for other Kincora projects and we thank existing shareholders for their support in the capital raising and welcome some good new groups to the register."Fleet Space Director, CFO and Financial Strategy & Investment Officer, Federico Tata-Nardini, said:"In a major advance for exploration in the Macquarie Arc, we are excited to deploy Fleet Space's proprietary ExoSphere technology stack and multiphysics surveys at the Wongarbon Project, building upon our relationship with Kincora. These agreements reflect a complete end-to-end deployment of ExoSphere, from target generation to drill testing on a project that offers new district scale potential and has never been drilled. Fleet Space has invested very significantly in the Macquarie Arc and established a unique knowledge of a number of the key porphyry systems and emerging discoveries. We have completed five surveys, including recently at the Boda-Kaiser deposits. Why Because we believe there are further Cadia-scale deposits to be found and that our Exosphere technology will play a fundamental role in uncovering the next one as we continue to enhance mineral systems knowledge worldwide.Wongarbon's geological and geophysical setting is favourably located in a highly prospective area of the Arc. It has clear analogues of the nearby porphyry complexes and existing Tier 1 deposits. We believe the project is at the stage where we can add significant value and mutually share major discovery potential with Kincora."Capital Raising In conjunction with these agreements with Fleet Space, the Company is pleased to announce that it has received binding commitments for a two tranche share placement comprising 33.5m shares at an issue price of $0.038 (C$0.036) per share to raise A$1.27m (C$1.19m) (before costs) with 1:2 attaching option at A$0.075 (C$0.07) with a 2-year term (the "Placement"). The issue price is a 12% discount to the last close price (October 10th, 2024) and 16% discount to the 15 day VWAP (on the ASX).The Offering has been led by strategic investments for A$400,000 (C$373,832) by Fleet Space's investment fund, a new arms-length investor, and Big Ben Holdings, a long-term shareholder of Kincora's maintaining its 12.9% stake.Allotment of tranche 1 of the Placement to professional and sophisticated investors will take place on October 22nd, 2024, with 12.6m shares being issued under Kincora's Listing Rule 7.1 placement capacity. Tranche 2 of the Placement (comprising 20.9m shares and 16.8m attaching options) will be subject to shareholder approval pursuant to a General Meeting, with further details to be provided to shareholders in a Notice of Meeting to be lodged shortly.Subject to shareholder approval, Directors intend to purchase C$50,000 of shares under tranche 2 of the Placement with Fleet Space and Big Ben Holdings also agreeing to participate in tranche 2. Fleet Space has agreed to a 12-month voluntary escrow period.Morgans Corporate Limited acted as Lead Manager to the Placement. A cash transaction cost of 3.9% of the Placement is payable.In addition to the Placement, the Company will issue 11m accrued remuneration shares to Kincora's board and senior management under the Equity Incentive Plan approved by shareholders.Post the proposed issuances, Kincora's total outstanding number of fully issued shared is anticipated to be 291.7m with 69m total options outstanding.Use of FundsThe funds used from the Placement is intended to support:(i) drilling and exploration at the Condobolin Project;(ii) Ambient Noise Tomography (ANT) and gravity surveys at the Wongarbon Project with target refinement ahead of Fleet Space's right to drill a minimum of 2000 metres to earn a 20% stake in the Project; and,(iii) offering costs, working capital, new direct application license acquisition and general project generation opportunities.The New Partnership Fleet Space and Kincora have entered an agreement to commence multiphysics surveys at the Wongarbon Project with a path to asset level partnership:1) Fleet Space will have a right to fund a minimum of 2,000m drill program, with drill targets:identified and refined from the multiphysics surveys using Fleet Space's ExoSphere Discovery technology; and,mutually agreed by Kincora and Fleet Space.2) An exercise of the right in 1) will entitle Fleet Space to a 20% equity interest in the Wongarbon Project.3) The right in 1) may be exercised within 6 months of the completion of the multiphysics surveys.4) Should Fleet Space exercise the right, the parties will enter into a Joint Venture Agreement (JV Agreement). Key principles governing the JV Agreement will be customary for such stage exploration project including both parties having the right to provide additional funding maintain their respective ownership interests and dilution provisions should either party not participate in additional project funding, noting that any holder of a project interest less than 10% will have its interest converted to a 1% Net Smelter Return (NSR) royalty.Fleet Space is to be the operator of the multiphysics surveys, with support from Kincora, and Kincora the operator of the drilling program.The multiphysics surveys will comprise real-time 3D Ambient Noise Tomography (ANT) and ground gravity surveys applying industry leading technology to generate and interpret new homogeneous and primary datasets via Fleet Space's proprietary and vertically integrated technology stack, ExoSphere, and be integrated with existing regional geophysical surveys and geological data.While interpretations are ongoing by Kincora, Fleet Space and AngloGold Ashanti the multiphysics surveys have confirmed and refined a regionally significant priority target ahead of imminent drilling. The surveys have also generated a number of previously unrecognised areas of interest and potential new target areas with a final review to integrate the results of the commenced drilling program results in conjunction with AngloGold Ashanti.About the Wongarbon ProjectPegged as open ground and secured only in June 2024, the Wongarbon project (EL9652) covers 173km2 and is interpreted to host one of the last remaining untested and large intrusive complexes of the Macquarie Arc:Regionally significant magmatic complex situated on the interpreted under cover extension of the northern Molong Belt coincident with an intrusive level cross arc structure supporting a series of large and untested porphyry targets.Clear analogues of the nearby complexes and existing Tier 1 deposits in the Arc and aeromagnetic signatures of other globally significant porphyry deposits.Previously identified as a large-scale new intrusive complex target by Newcrest but not drill tested at the time due to focus on the Cadia Far East and Ridgeway discoveries.Recent interpretations support immediate high priority targets for drilling.The Wongarbon project has never been drilled.Alkane and Magmatic Resources' have recently undertaken drilling at a total of seven porphyry targets along a common transverse structure that is interpreted to extend into the Wongarbon Project and be a key control to the 14.7Moz gold equivalent inventory at the Boda and Kaiser porphyry deposits 1. These recent programs have been encouraging with follow up exploration either planned and/or ongoing at these and other regional targets 3.Fleet Space has recently undertaken regional and infill ANT surveys at Alkane's Northern Molong Porphyry Project (NMPP), including the Boda and Kaiser deposits, with analysis and interpretation ongoing. Similar Fleet Space surveys across the Macquarie Arc, including Kincora's Nyngan Project, are noted as having refined and generated multiple new porphyry targets.Further details on the Wongarbon Project, including a detailed project level presentation, are available at: https://kincoracopper.com/wongarbon-project/ (Projects/Wongarbon).Further details on Kincora's wholly owned, district scale project portfolio and drill ready copper-gold porphyry projects are available on the Company's website: https://kincoracopper.com.About Fleet Space Technologies Fleet Space is private and widely recognised as Australia's leading space exploration company. Fleet Space seeks to revolutionise mineral exploration with its vertically integrated technology stack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition, and AI to map mineral systems in real-time.Fleet Space's ExoSphere technology enables an end-to-end approach to high-quality data acquisition, processing, interpretation and targeting to streamline exploration and improve success rates for new economic discoveries.Leveraging Fleet Space's proprietary satellite network in low Earth orbit, smart seismic sensors enabled with edge computing and rapid data processing, ExoSphere delivers real-time 3D mapping of mineral systems and AI-powered drill targeting with near-zero environmental impact.In the last quarter, Barrick Gold announced it would partner with Fleet Space to survey copper porphyry complexes across 1,150km² of the world-class Reko Diq project 4 and in the last month Gold Fields announced a similar relationship to advance exploration at the Salares Norte project in Chile 5.Recently, Inflection Resources' announced new targets generated by ExoSphere, leading AngloGold to accelerate their Exploration Agreement and drilling with Inflection 5. Inflection and Fleet Space have also recently announced the results of the world's largest real-time ANT survey across 1818km², built an AI-powered district scale copper prospectivity map which, when integrated with other existing datasets (including airborne magnetics and gravity), has resulted in four new priority targets, three of which are within 2km's of Kincora wider project portfolio in the northern Junee-Narromine Belt 6.ExoSphere's rapid global adoption has propelled Fleet Space's exponential growth, including a A$50 million Series C funding round, a doubling of its valuation to A$350 million, plans to send a variant of ExoSphere to the Moon in 2026, and recognition as Australia's fastest growing company 2.For more information please visit Fleet Space's website at https://www.fleetspace.com.About Kincora Kincora Copper is dual listed on the ASX and TSX-V (ticker "KCC") and is an active explorer and project generator focused on world-class copper-gold discoveries that has recently executed five agreements that unlock up to >A$60 million in multiple year partner funding. Further new projects that offer a clear value path and targeted partnerships are proposed.Kincora's portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia's leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting exposure to 10,000-30,000m pa of drilling.For more information please visit Kincora's website at www.kincoracopper.comReferences:(1) Annual Resources & Reserves Statement FY24 - Alkane Resources Limited (ticker ALK.ASX) release September 4, 2024(2) According to the Australian Financial Review (2023)(3) 2Q'2024 Quarterly Activities Reports - Alkane Resources Limited and Magmatic Resources Limited (ticker MAG.ASX)(4) ANT geophysics defines additional epithermal-porphyry targets at Spur Project - Waratah press release May 23, 2024(5) Reimaging porphyry copper exploration using Exosphere: Ambient Noise Tomography from the Duck Creek project, Macquarie - Fleet and Inflection Case Study 2023 (6) Completes 1,800Km2 Ambient Noise Tomography Survey Across Portfolio of Projects in New South Wales - Inflection press release July 10, 2024(7) Fleet Space's Exosphere Enhances Barrick Gold's Data-Driven Copper Exploration at Reko Diq - Fleet Space press release July 9, 2024(8) Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile - Fleet Space release October 3, 2024(9) Inflection Resources Defines New Priority Targets Based on Results of Regional ANT Survey in New South Wales - Inflection press release September 12, 2024This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)For further information please contact: Sam Spring, President and Chief Executive Officer sam.spring@kincoracopper.com or +61 431 329 345Executive office400 - 837 West Hastings Street Vancouver, BC V6C 3N6, CanadaTel: 1.604.283.1722 Fax: 1.888.241.5996Subsidiary office Australia Vista Australia Level 4, 100 Albert RoadSouth Melbourne, Victoria 3205Qualified Person The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora's Technical Committee, who are Qualified Person(s) for the purpose of NI 43-101.JORC Competent Person StatementInformation in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement) and the Company is not aware of any new information or data which materially affect the information included in those prior reports and, in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Person(s) under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. John Holliday and Peter Leaman consent to the inclusion in this report of the matters based on the information in the form and context in which it appears. The review and verification process for the information disclosed herein for Kincora's projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures.Forward-Looking StatementsCertain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226763 Copyright 2024 ACN Newswire via SeaPRwire.com.
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The Electronics Fair and electronicAsia attract more than 60,000 buyers ACN Newswire

The Electronics Fair and electronicAsia attract more than 60,000 buyers

- The two major electronics fairs concluded today, attracting over 60,000 industry buyers from 136 countries and regions- 53% of respondents in an on-site survey expect overall sales to increase over the next 12-24 months, while 43% expect sales to remain stable- Most respondents believe there is a “very promising” or “promising” market potential for wearable electronic products (65%) and robotics technology (59%)HONG KONG, Oct 16, 2024 - (ACN Newswire via SeaPRwire.com) - The Hong Kong Electronics Fair (Autumn Edition), organised by the Hong Kong Trade Development Council (HKTDC), and electronicAsia, jointly organised by the HKTDC and MMI Asia Pte Ltd, concluded their physical exhibitions today.The four-day events attracted more than 60,000 industry buyers from 136 countries and regions. The number of buyers from Malaysia, Türkiye, Argentina and the UAE increased from last year. This reflects the exhibitions' status as important sourcing platforms for the industry.Sophia Chong, Deputy Executive Director of the HKTDC, said: "The global trend towards smart living is driving demand for innovative products and solutions. The Electronics Fair and electronicAsia serve as efficient platforms for the industry, enabling exhibitors to showcase their electronic products and technology solutions to buyers. We are pleased to see exhibitors and buyers successfully exploring business opportunities at the exhibitions, which are expediting Hong Kong's development into an international innovation and technology (I&T) centre.”In late October, the HKTDC will host the Hong Kong International Lighting Fair (Autumn Edition), Hong Kong International Outdoor and Tech Light Expo and ECO Expo Asia to create more cross-industry business opportunities.Industry optimistic about India, the Middle East, Latin AmericaAn independent survey agency commissioned by the HKTDC interviewed 1,091 Electronics Fair buyers and exhibitors about growth prospects for the industry. 53% of respondents expect overall sales to increase in the next 12-24 months, while 43% anticipate that they will remain stable. Most respondents believe that the electronics industry has the most growth potential in emerging markets, such as India, the Middle East and Latin America over the next two years, followed by Korea, Mainland China, Australia and the Pacific Islands.In terms of trends in electronic products, most respondents believe there is a “very promising” or “promising” market potential for wearable electronic products (65%) and robotics technology (59%).Meanwhile, 56% of respondents believe that the market potential for e-sports products and equipment is high. Most respondents consider these products to have the greatest growth potential in North America and Northern and Western Europe.Exhibitors attract quality buyers at fairsThis year's Electronics Fair featured more than 20 zones, gathering the latest electronic products and innovative solutions from global exhibitors in areas such as smart cities, smart mobility, gerontechnology and digital entertainment.First-time exhibitor and Founder of Zunosaki Limited, Newmen Ho, promoted the company's hand rehabilitation robot in the Startup Zone, seeking Mainland China and overseas distributors, partners and investors. In the first half of the exhibition, he met potential buyers from Taiwan’s nursing homes and from Korea. Additionally, a buyer from India expressed interest in applying the company's robotic hand technology across different industries.Hong Kong's renowned consumer electronics brand Momax achieved impressive results at the fair. The company's Founder and CEO John Cheng stated that in the first two days of the Fair, the team met some 60 buyers from the Asia-Pacific region and Europe. Momax also formed a long-term partnership with a publicly listed company in Papua New Guinea and is currently discussing an initial order valued at US$50,000.Additionally, through HKTDC’s Click2Match smart business matching platform, the company connected with another quality buyer from Australia, with the intent to collaborate long-term. Mr Cheng said: "Hong Kong's exhibitions are world-class, featuring high-quality buyers from a diverse range of countries. This year's Autumn Electronics Fair saw a significant turnout, and the buyers were very engaged. We will definitely participate again next year."Dongguan Maochang Printed Circuit Board Ltd, which develops technological solutions, participated in electronicAsia to stay updated on industry trends and identify potential buyers. The company's Sales Director, Michael Tsang, said: "Expanding onto the international stage is our primary goal for participating in the exhibition. I am glad that we met with over 200 potential buyers in the first three days to gain a deeper understanding of customer needs."Buyer seeks new products to expand marketVinal Patel, Chief Commercial Officer of UK buyer Brand Collective, has been attending the Electronics Fair for over 20 years. During the first two days of this year's fair, he secured over US$2 million worth of purchases, including charging cables, power banks and wireless speakers from two exhibitors. He is also considering expanding the range of products he distributes after discovering new offerings at the Fair. Mr Patel said: "The line-up at the exhibition gets better every year, even more impressive than before the pandemic. I will definitely participate in the Electronics Fairs in April and October in the future."Turkish buyer and Co-founder of Robotistan Elektronik Tic AS, Yusuf Gündogdu, visited electronicAsia with a purchasing budget of around U$100,000-200,000 for electronic products. He said: "The Electronics Fair is the best opportunity for me to interact face-to-face with exhibitors from around the world. I always find the best prices here. Meeting the founders of start-ups in the Startup Zone excites me. These companies are poised to become some of the best in the future and will drive market development through innovation, which I eagerly look forward to."The organisers held 78 events and forums during the exhibitions, inviting industry leaders to share unique insights and the latest industry information. These events included the Symposium on Innovation & Technology, Hong Kong Electronic Forum and Reliability Assurance for Electronic Systems Forum. Other on-site activities catered to start-ups, including investment matching, the Hong Kong Value Creation for Technology: Pitching Competition, Meet the Mentors sessions and Start-up Smart Launch.Under the EXHIBITION+ hybrid model, exhibitors and buyers can use the Click2Match smart business matching platform to conduct online meetings, in addition to attending the physical fair. Exhibitors and buyers can still explore business opportunities and conduct online negotiations through Click2Match until 23 October.Photo Download:https://bit.ly/3BVmX2RHong Kong Electronics Fair (Autumn Edition) and electronicAsia successfully concluded. The four-day events attracted over 60,000 buyers from 136 countries and regionsThis year's Symposium on Innovation & Technology, themed 'When Two Worlds Collide: The Confluence of Digital Twins & Real-Life Applications', featured heavyweight guests and attracted numerous industry professionalsThe Hall of Fame gathered consumer electronic products from renowned brands worldwide. Among them, Asia Kingston (HK) Limited, specialising in brand licensing, presented a gaming chair featuring the NASA logoLocal brands, including well-known electronic brand Momax, promoted their products to global buyersThe Tech Hall showcased products using a variety of cutting-edge technologies, including 3D printing, Internet of Things, robotics, AR and XRThis year's Electronics Fair introduced a Digital Entertainment Experience Zone, where buyers could try and explore products on-siteThe concurrent electronicAsia featured multiple zones, exhibiting products, such as electronic components and parts, keyboards and switches, power supply equipment and moreThe Hong Kong Electronic Forum, co-organised by the HKTDC, MMI Asia Pte Ltd and the Hong Kong Electronic Industries Association, was themed “Innovation Unleashed: The Intersection of Microelectronics, AI, and Open-Source Ecosystems”WebsitesHong Kong Electronics Fair (Autumn Edition): hkelectronicsfairae/enelectronicAsia: electronicasia/enMedia enquiriesPlease contact the HKTDC’s Communications & Public Affairs Department:Katy WongTel: (852) 2584 4524Email: katy.ky.wong@hktdc.orgSnowy ChanTel: (852) 2584 4525Email: snowy.sn.chan@hktdc.orgHKTDC Media Room: https://mediaroom.hktdc.com/enAbout the HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong ’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly SMEs, in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Copyright 2024 ACN Newswire via SeaPRwire.com.
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HKTDC welcomes 2024 Policy Address ACN Newswire

HKTDC welcomes 2024 Policy Address

HONG KONG, Oct 16, 2024 - (ACN Newswire via SeaPRwire.com) - The Hong Kong Trade Development Council (HKTDC) welcomes the 2024 Policy Address, delivered today by the Hong Kong Special Administrative Region’s (HKSAR) Chief Executive John Lee.The Policy Address presents a comprehensive set of measures, ranging from the economy and trade and people’s livelihood to high-calibre talent attraction and youth development. Leveraging Hong Kong’s one country, two systems advantages, the policies will fuel the city’s continued economic growth.Dr Peter K N Lam, Chairman of the HKTDC, said: “The Policy Address highlights the Hong Kong SAR Government’s efforts in seeking innovation and change, while striving for excellence. It addresses a wide range of areas covering economic growth, trade and investment, SME support, culture and creative as well as construction and planning. Riding on Hong Kong’s eight centre advantages, the Policy Address promotes new quality productive forces and high-quality economic development.”The annual address announced various measures to reinforce the city’s status as an international financial, shipping and trading centre. Dr Lam believed the move echoes the 20th Central Committee’s Third Plenary Session’s Resolution to develop Hong Kong into a supply chain service centre: “The HKTDC will continue to proactively promote Hong Kong’s eight centre advantages and enhance the development of high value-added supply chain services. We will step up cooperation with InvestHK to set up a mechanism and enhance the interface for attracting mainland enterprises to establish their international or regional headquarters in Hong Kong and provide one-stop diversified professional advisory services to help them go global via the Hong Kong platform.”He added that the HKTDC will strengthen advisory services of its Transformation Sandbox (T-box) programme to cover a wider range of areas and support Hong Kong enterprises as well as mainland companies in Hong Kong in regard to business transformation, sustainable development and operational upgrade. Businesses are encouraged to leverage the HKTDC’s trade platforms and events to go global and explore international market opportunities, especially in the high-potential ASEAN region.Dr Lam welcomed the HKSAR Government’s SME support measures, including the relaunch of the Principal Moratorium scheme, a HK$1 billion injection into the BUD Fund and an additional HK$500 million provision for the Incentive Scheme for Recurrent Exhibitions 2.0. He believes the measures will foster SMEs’ sustainable development and reinforce Hong Kong’s role as a leading convention and exhibition hub.The Policy Address stated the Hong Kong Shopping Festival will be relaunched in the next two years to help SMEs tap into the mainland e-commerce sales market. Dr Lam said: “The inaugural Hong Kong Shopping Festival organised by the HKTDC in August this year received an enthusiastic response. Not only did it raise participants’ brand exposure, but also provided them with practical experience in e-commerce operations. We will build on this year’s success and host the second edition of the Festival next August, and in the ASEAN market in due course, to enable Hong Kong SMEs to explore market opportunities via e-commerce and social media platforms.”To help SMEs understand e-commerce marketing, the HKTDC will publish research reports and analyses on e-commerce ecosystems in different markets, such as ASEAN, to help businesses lay a solid foundation in e-commerce operations. Through its Digital Academy and Design Gallery’s (DG) cross-border e-commerce shops on Taobao and JD International, the HKTDC has been offering comprehensive support to Hong Kong SMEs to leverage diverse e-commerce and digital marketing channels to explore mainland opportunities. DG’s 70 physical sales network in the mainland serve as an ideal platform to promote Hong Kong brands in the region. As for the ASEAN market, the HKTDC’s DG Studio programme helps connect local businesses with ASEAN physical retailers and e-commerce platforms.In terms of strengthening SMEs’ brand development, the HKTDC will continue to organise some 40 international exhibitions and conferences in Hong Kong every year. We will also set up more Hong Kong Pavilions in mainland and overseas exhibitions and further enhance business matching, to support SMEs in developing their brand and tapping global opportunities.On promotion of Hong Kong's cultural and creative industries, as mentioned in the Policy Address, more Hong Kong, mainland and overseas cultural and creative products will be added to the Asia IP Exchange (AsiaIPEX), managed by the HKTDC, to facilitate cross-sector exchanges and cooperation and contribute to Hong Kong’s development into a regional IP trading centre. Currently, the platform displays more than 28,000 IP projects available for trading. The HKTDC will continue to promote cultural and creative products as well as IP transformation and trading on its platforms, such as the Business of IP Asia Forum, Hong Kong International Licensing Show and the Hong Kong International Film and TV Market.Dr Lam also welcomed measures addressing new quality productive forces, the Northern Metropolis, digital economy and silver economy, which will help Hong Kong businesses further explore opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and Belt and Road countries and regions.Addressing the reduction of the liquor duty rate, Dr Lam believes that the move will strengthen related trade and further promote Hong Kong as a regional wine trading hub. He added that the 16th Hong Kong International Wine and Spirits Fair will be held from 7 to 9 November, which will showcase fine wines from around the world, including liquors and white wines in the mainland pavilions, whiskeys from Japan and Ireland and spirits from around the world. Fair seminars will highlight the prospects of Hong Kong’s spirits market, while Chinese liquor promotional events will help the industry seize new opportunities.In conclusion, Dr Lam said: "The HKTDC will continue to support and complement national development and the Hong Kong SAR Government's policies. We will work closely with the business community to leverage Hong Kong's advantages and promote sustainable economic growth."Media enquiriesPlease contact the HKTDC’s Communication & Public Affairs Department:Sam HoTel: (852) 2584 4589Email: sam.sy.ho@hktdc.orgTo view press releases in Chinese, please visit http://mediaroom.hktdc.com/tcAbout HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Copyright 2024 ACN Newswire via SeaPRwire.com.
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VPBank Partners With CleverTap To Transform Vietnam’s Banking Experience ACN Newswire

VPBank Partners With CleverTap To Transform Vietnam’s Banking Experience

San Francisco, CA & Hanoi, Oct 17, 2024 - (ACN Newswire via SeaPRwire.com) - VPBank, one of Vietnam’s largest private banks, partners with CleverTap, the all-in-one customer engagement platform, to deepen understanding of customers and their aspirations and use the insights to deliver hyper-personalized experiences to users, at scale. VPBank aims to elevate customer experience and drive higher conversions on products and offers through highly targeted campaigns built on complex, real-time segmentation that quickly connects with customers. Through this association with CleverTap, VPBank’s objective is to improve engagement, deepen relationships and drive higher retention, while keeping costs low.Established in 1993, VPBank operates in a wide variety of businesses including retail banking, corporate banking, wealth management, and consumer finance. VPBank aims to become a top-ranking financial institution among joint stock commercial banks in Vietnam, in terms of business scale, market share, and service quality. Leveraging CleverTap’s AI/ML-powered capability suite, Clever.AI, VPBank will be able to hyper-personalize its engagement via multiple automation and journeys. It will enable a seamless and omnichannel onboarding experience for new users, driving higher success rates for key milestones such as registration and the first transaction. With the unified customer view on CleverTap, VPBank can identify high-intent users and target them with contextual and relevant offerings, achieving an increase in customer lifetime value.Varun Krishna, Head of Digital Marketing, VPBank said, “We’ve always strived to maintain our position as one of Vietnam’s leading financial institutions. In an increasingly competitive banking landscape, delivering personalized and meaningful customer experiences is paramount. Partnering with CleverTap empowers us to harness advanced AI-driven insights, enabling us to engage our customers more effectively and tailor our offerings to their unique needs across digital channels. This collaboration not only enhances our ability to connect with customers on a deeper level but also drives sustained growth and loyalty. Together, we are committed to setting new standards in customer engagement and positioning VPBank as the most trusted and preferred bank in Vietnam.”Mai Vo, Country Manager, CleverTap said, “Vietnam’s banking sector is at the precipice of a new era of growth. Our partnership with VPBank couldn’t be timed better. With a legacy of innovation and customer-centricity, VPBank has consistently set benchmarks in the Vietnamese banking industry. Their commitment to using technology for crafting exceptional customer experiences aligns perfectly with our vision. Together, with CleverTap’s state-of-the-art omnichannel platform, personalizing and enhancing customer engagement has never been more seamless. This partnership is not only a testament to CleverTap’s expertise in driving conversion and retention but also underscores VPBank’s leadership in propelling Vietnam's banking sector into a new era of excellence”About CleverTapCleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Domino’s, Levis, Jio, Papa John’s, Zomato, Kotak Bank, Air Asia, Carousell, TD Bank, and Tesco to help build personalized experiences for all their customers. The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering speed and cost efficiency at scale.Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco, with presence across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, Vietnam, and Jakarta.For more information, visit clevertap.com or follow us on:LinkedIn: https://www.linkedin.com/company/clevertap/ X: https://twitter.com/CleverTap Forward-Looking StatementsSome of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.For more information:SONY SHETTYDirector, Communications, CleverTap+91 9820900036sony@clevertap.com ASHMIT CHAUDHARYAssociate Consultant, Archetype+91 8850752121ashmit.chaudhary@archetype.co Copyright 2024 ACN Newswire via SeaPRwire.com.
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Eng Kong has installed Singapore’s first automated seal dispenser system in one of their container depots ACN Newswire

Eng Kong has installed Singapore’s first automated seal dispenser system in one of their container depots

- Eng Kong is the first depot in Singapore to trial and customised this technology, after several locations such as Korea's HMM PSA New-port Terminal in Busan who has also adopted similar technology.- The Singapore version is environmentally friendly as it will address carbon emissions, carbon footprint and reduce air pollution due to paperless processing.- Significant productivity, safety and manpower advantages with process times halved. Drivers can remain in their vehicles while streamlining the depot administration process.- Eng Kong plans to expand the system to its other Singapore depots by 1Q2025, potentially boosting efficiency and boosting throughput.SINGAPORE, Oct 17, 2024 - (ACN Newswire via SeaPRwire.com) - EKH Pte Ltd. (“Eng Kong” or the “Company”, and together with its subsidiaries, the “Group”), one of Asia-Pacific’s largest shipping container depot operators, has installed and customised Singapore’s first automated container seal dispenser systems to fit their depot’s Container Management Systems (CMS) systems.The Group intends to expand the system to its other three Singapore depots by 1Q2025 and eventually its mega depot 3Q2026. Eng Kong’s mega depot, spanning 80,000 square metres, will be Singapore’s largest depot. The system will have significant productivity, safety and manpower advantages compared to traditional methods.Container seals are required to prevent theft and unauthorized access to the container contents. Previously, the seal collection process was highly manual, administrative and time-consuming, taking an average of 30 minutes before drivers could obtain seals.Eng Kong's wholly owned subsidiary, Eng Kong Container Agencies Pte Ltd, has installed and customised Singapore’s first fully automated seal dispenser system which has helped cut collection time by half. The system is fully localized for Eng Kong’s depots, ensuring seamless integration with their current logistics infrastructure.Drivers now follow a seamless and safer flow, and no longer need to disembark their vehicles - much like a drive through. Upon entering the depot, time-consuming procedures are now eased up with the use Automated Gate Registration, Acceptance and Payment Functions with the use of Depot Appointment Information and Licensed Plate Recognition (LTR) Licensed Plate Recognition (LPR) technology and a cashless payment system. The driver then collects and quality-checks the container and seals at the automated seal dispenser.Labour shortage pressures could be further eased through automation, drivers will be able to transport more containers, and administrative staff could be trained for more strategic positions.In Singapore, a total of 39.01 million TEUs were processed in 2023(1). At Eng Kong’s domestic depots, the introduction of automated seal dispensers is expected to significantly boost efficiency. As each minute saved per container adds up significantly, it has been estimated that this new initiative can save up to an estimated 50,000 of man-hours per annum for the entire process from the time the driver arrives, processing, mounting the containers and collecting the seal from the dispenser machine near the entrance. These time savings will enable for reskilling the staff to other job opportunities, enhancing workforce capabilities and booth the driver(s) earning, while increase efficiency.Additionally, Singapore’s handling capacity is expected to double once the PSA Tuas Port is completed in 2040(2). Traffic congestion around busy depots will be eased and safety for drivers improved as they no longer alight their vehicles. Labour shortage pressures could be further eased through automation, drivers will be able to transport more containers, and administrative staff could be trained for more strategic positions.Paul Ng, Co-Chairman of Eng Kong said, “As one of Singapore’s largest depot operators, we are committed to improving operational efficiency, reducing manual labour dependency and improving the safety of our depots. As Singapore’s depots transition to Tuas, which is set to be the world’s largest automated port, investing in automated solutions will allow Eng Kong to remain at the forefront of this digital transformation. The world is watching Singapore and depot operators have a role to play in embracing technology and integrating advanced solutions, driving progress across the industry.”(1) S’pore port handled record 39.01 million shipping containers in 2023, Straits Times, 13 Jan 2024(2) World’s largest automated terminal: PSA Tuas Port pioneering automation transformation with event-driven architecture, Seatrade Maritime News, 14 Feb 2024About Eng KongFounded in 1975, Eng Kong is an integrated logistics operator and a key provider of container related services to global firms operating in the Asia-Pacific region. In 1986, Eng Kong broadened its business portfolio to become regional player. Eng Kong operates 20 fully integrated container depots spanning across Singapore, China, Malaysia, Hong Kong, Thailand, and Vietnam, totalling 705,100 sq. meters.Eng Kong provides comprehensive depot related services such as storage and handling, repair and maintenance, and new build container inspection and survey. Transportation. Over the years, we have established a sound reputation for reliable, cost-efficient service.For more information, please visit https://www.engkong.com. Issued for and on behalf of EKH Pte. Ltd.By Financial PRFor more information, please contact:Kamal SAMUEL / LEE Ke Wei E-mail: kamal@financialpr.com.sg / kewei@financialpr.com.sgTel: +64 6438 2990 Copyright 2024 ACN Newswire via SeaPRwire.com.
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MarTech Leader WebEngage Gets Momentum in Asia Pacific

- Company aims to revolutionise customer engagement for B2C businesses through insights-driven strategies and retention consulting - Momentum in Asia Pacific is witnessed on the back of proven incremental results delivered for iconic businesses like PFI Mega Life, Unilever, Arabian Oud, and PasarPolis, among others - WebEngage has established a dedicated team of growth consultants and domain experts based out of Jakarta, Indonesia as well as a strong and expanding partner ecosystem in the region including Malaysia, Vietnam, Thailand and the Philippines Jakarta, Indonesia & Mumbai, India, Oct 15, 2024 - (ACN/NewsVoir) - According to an IDC report, Generative AI investments in the Asia Pacific (APAC) region are projected to reach $110 billion in the next four years with AI-powered insights and solutions expected to transform the future of business. With this region set to drive technological progress, WebEngage, a global leader in retention consulting and customer engagement, has today announced its expansion in the Asia Pacific market. The company aims to revolutionise how businesses in the APAC region engage with their customers by offering a comprehensive suite of tools to empower marketers to create personalized and effective campaigns. With ambitious goals to achieve 5x growth by 2027, this strategic move aims to leverage the region's thriving startup ecosystem and digital-first legacy businesses. WebEngage is set to enhance customer experiences and drive sustainable growth in APAC for B2C brands with advanced, AI-powered, insights-driven strategies. [caption id="" align="aligncenter" width="1000"] Image of the full suite of services that WebEngage provides for clients[/caption] Hetarth Patel, Vice President of Growth Markets (MEA, Americas, APAC), WebEngage, emphasized the importance of APAC as a key market for the company, given the rising demand for customer engagement solutions fueled by the region's dynamic digital economy. He stated, “In today's competitive landscape, businesses are increasingly realizing the necessity of hyper-personalized customer engagement to foster loyalty and improve Customer Lifetime Value. Our AI-powered CDP, personalisation engine and engagement suite have been delivering consistent uplift of revenue and margins to businesses in the Asia Pacific market for clients such as PFI Mega Life, Unilever, Arabian Oud, and PasarPolis, among others. We aim to become the most preferred marketing automation and customer engagement platform partner for businesses in Asia Pacific by 2027. We are also building a strong ecosystem of partners such as Global System Integrators, Consulting Houses and Digital Marketing Agencies across Indonesia, Malaysia, Vietnam, Thailand and the Philippines.” The current landscape reveals a significant gap in generative AI adoption among businesses, limiting their ability to create hyper-personalised content and conduct experimentation. "Our goal is to change that narrative," Patel stated. "By integrating our proven AI capabilities packed for specific industries and sub-industries, businesses can unlock new levels of creativity and efficiency." WebEngage is dedicated to a long-term growth strategy in APAC, focusing on innovation to address the market's unique needs. The company has established a strong foothold with prominent clients such as PFI Mega Life, PasarPolis, TyrAds, QBFoods, and MedsGo, spanning industries including e-commerce, retail, finance, and more. WebEngage clients have witnessed a remarkable uplift in revenues and margins by up to 40% across industries. WebEngage is a leading marketing automation platform that delivers customized marketing analytics solutions. By leveraging first-party data and actionable insights, WebEngage has empowered over 800 brands across India, the Middle East & Africa, Latin America, and Southeast Asia to develop personalised engagement strategies tailored to their unique customer needs. For more information about WebEngage, visit the website: https://webengage.com/ About WebEngage: WebEngage helps consumer brands engage and retain their customers towards higher lifetime value and marketing ROI. The product stack includes a robust customer data and analytics platform - unifying data across silos, the best-in-class engagement layer with a multi-channel journey builder, and a personalization engine that helps boost conversion for all channels, including the web and mobile apps. Ranked #1 consistently across all review platforms on ease of use and comprehensiveness of the platform, WebEngage is used by 800+ brands across India, the Middle East & Africa, Latin America, and Southeast Asian markets. The roster across E-Commerce & Travel, Edtech, BFSI & Fintech industries includes brands like Unilever, Walmart, Airtel, Myntra, L'Occitane, Cipla, Reliance General Insurance, Tata Mutual Fund, Unacademy, Pepperfry, GoIbibo, Adani One, PFI Mega Life, PasarPolis, Wego, Groww, Acko, Blackberrys among others. For media enquiries APRW: Ferry Prihardiputra H/P: +62 817 526 8638 E-mail: ferry@aprw.asia WebEngage: Anand Vaidya Mobile: +91 99300 58087 E-mail: anand.vaidya@webengage.com WebEngage: Simone Chhabda Mobile: +91 9619128455 E-mail: simone.chhabda@webengage.com
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Fosun Secures EUR670 Million for Completion of Ageas Sale

HONG KONG, Oct 16, 2024 - (ACN Newswire via SeaPRwire.com) - According to Ageas's press release, BNP Paribas notified Ageas on October 3, 2024, that its current shareholding in Ageas reached 10.91%. This change in shareholding is based on the agreement reached between BNP Paribas and Fosun International on April 14, 2024. Fosun International entered into an agreement with BNP Paribas to sell up to 15,401,253 shares of AGEAS SA/NV for a total consideration between EUR626 million and EUR670 million.Source familiar with the matter stated that Fosun International acquired Ageas shares at a low price in its early years. Dividends over the years and proceeds from the disposal have yielded Fosun a considerable return. The transaction was completed on October 3, 2024, and Fosun has received a full payment nearly EUR670 million in cash, the source said. Copyright 2024 ACN Newswire via SeaPRwire.com.
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Empowering Audiences: The Role of Content and Connectivity in Vietnam’s Media Evolution ACN Newswire

Empowering Audiences: The Role of Content and Connectivity in Vietnam’s Media Evolution

HO CHI MINH CITY, VIETNAM, Oct 16, 2024 - (ACN Newswire via SeaPRwire.com) - Over 100 industry delegates from across Asia gathered at the Asia Video Industry Association’s (AVIA) Vietnam in View conference, opened by the Deputy Director General of the Authority for Broadcast and Electronic Information (ABEI), Nguyen Ha Yen, on 9 October in Ho Chi Minh City.Despite the challenges of 2023 in the post-Covid landscape, the pay TV market in Vietnam continued to evolve, achieving a 4% increase in revenue and a 14% rise in subscriptions compared to 2022, as noted by Deputy Director General Nguyen. He emphasized that, amid fierce competition and rapid changes in consumer behaviour and technology, developing new business models for sustainable growth was essential for the future of pay TV. Both regulatory bodies and industry leaders will play crucial roles in shaping this strategic direction, he added.This was further reiterated by Thanh Vu, Deputy Regional Managing Director and Representative, US-ASEAN Business Council, in his market overview of Vietnam. Vietnam was fast approaching market maturity, with total subscriptions at almost 20 million, with 5.8% annual growth since 2018. And with pay TV penetration at 66%, there was still lots of room for growth, shared Thanh Vu. However, the clear winner was OTT and IPTV, which had become mainstream, and its revenue share accelerating from just 11% in 2019 to 45% by end of 2023, almost catching up with cable TV. Despite a sharp decline in subscriptions over the past 4 years and a modest subscription share of only 20% today, cable still accounted for over 50% of total Pay TV revenue.However regardless of platform, content very much remained the key driver for consumers, and critical to the business, said Pham Thanh Phuong, Managing Director, Viettel TV360. Offering the largest mobile and fixed-line network infrastructure in the Vietnamese market, with up to 80 million mobile broadband subscribers, bundling television and fixed broadband services was essential for them, and the smartest and fastest way to acquire the largest television customer base at the lowest cost and in the shortest time. But to keep their customers in the ecosystem, differentiation was important, especially from the international OTT platforms. “When we invest in local content, we can create a difference,” said Phuong.This sentiment was also clearly presented in the data from Kantar Media, on Who’s Watching What, Where and How in Vietnam. Local content reigned supreme across linear viewing, rounding up the top 10 most watched titles, with local Vietnamese series also driving over 30% of non-linear viewing. And from a platform perspective, the two most important devices were the Connected TV (CTV) and the smartphone, with CTV penetration at a striking 91% in the market. “It’s not a case of linear TV being replaced by video on demand, but that they complement each other. For the TV industry to develop, we must find out a way to serve the target audience according to their needs," said Tran Thi Thanh Mai, General Director, Kantar Media Vietnam.For Esther Nguyen, Founder & CEO, POPS Worldwide, their content strategy was always to look at the audience first, and the lifetime value of that audience, and serving the content that they want to watch, when they want to watch and on the platform of their choice. However, “playing in the digital world and operating among many different platforms is a double-edged sword,” shared Nguyen. “Platforms are global and have democratized content and what audiences watch. Audiences are now open to watching content from all over the world. We are no longer competing with just local content, but with global content,” she surmised in her closing keynote session.Vietnam in View is proudly sponsored by Lead Sponsor Cultural and Creative Industries Development Agency (CCIDA); Silver Sponsors A+E Networks Asia, INVIDI, PubMatic and TV5MONDE.Visit our media gallery for photos from event.About the Asia Video Industry AssociationThe Asia Video Industry Association (AVIA) is the trade association for the video industry and ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. AVIA is the interlocutor for the industry with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry.For media enquiries and additional background information, please contact:Charmaine KwanHead of Marketing and CommunicationsEmail: charmaine@avia.org | Website: www.avia.orgLinkedIn: www.linkedin.com/company/asiavideoia |Twitter: @AsiaVideoIA Disclaimer: The Cultural and Creative Industries Development Agency of the Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee. Copyright 2024 ACN Newswire via SeaPRwire.com.
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Transoft Solutions Acquires Advanced Mobility Analytics Group (AMAG) ACN Newswire

Transoft Solutions Acquires Advanced Mobility Analytics Group (AMAG)

Vancouver, BC, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - Transoft Solutions Inc. ("Transoft") - a global leader in transportation engineering, analysis, and operations software - announced today that it has acquired Advanced Mobility Analytics Group Pty Ltd ("AMAG"), a leading developer of video-based analytics software to facilitate improved traffic safety and management of road infrastructure, headquartered in Brisbane, Australia.Transoft Solutions Acquires AMAGThe secure cloud-based SMART platform developed by AMAG supports Vision Zero and Safe Systems approaches globally. Using computer vision, big data analytics, and advanced econometrics, its predictive analytics help organizations to create a safer and better managed road infrastructure."We are delighted to welcome AMAG's employees to Transoft," said Daniel Shihundu, P.Eng., CEO at Transoft. "We feel there is an excellent cultural fit, and combining our talented teams will accelerate research and development. The technologies present in our companies, independently, are truly remarkable, and merging the SMART and TrafxSAFE products under one umbrella will create a platform with unique capabilities. It will also allow us to explore synergies with our other products and create a software ecosystem where safety analytics can contribute to multiple stages in infrastructure development, from planning and design through to operations and maintenance. The Brisbane office, in addition to our current location in Sydney, will strengthen our presence in Australia and Asia-Pacific.""We are extremely excited to be joining Transoft," said Simon Washington, PhD, CEO of AMAG. "We enjoy cultural alignment, share the same vision, and with our combined technical expertise and software solutions, will be well positioned to serve the growing number of road safety and traffic operations projects in markets Transoft serves globally. Our latest continuous monitoring and decision support platform for traffic operations management has been gaining traction in several markets globally and is providing our customers with valuable infrastructure insights not possible with traditional sensor technologies. Through the Transoft offices and partner network, we are excited to offer this technology to additional markets across the globe."The integration of AMAG's business activities into the Transoft organization will ensure that its customers experience a seamless transition and a continued high quality of customer care and service. AMAG and their SMART platform are welcome additions to Transoft's portfolio and mark another step forward in the company's commitment to road safety initiatives like Vision Zero. Simon Washington will lead the combined AMAG and Transoft safety teams under a single Safety and Traffic Operations business unit at Transoft.About Transoft SolutionsTransoft Solutions develops innovative and highly specialized software for aviation, civil infrastructure, and transportation professionals. Since 1991, Transoft has remained focused on safety-oriented solutions that enable transportation professionals to work effectively and confidently. Our portfolio of planning, simulation, modeling, and design solutions are used in over 150 countries serving more than 50,000 customers across local and federal agencies, consulting firms, airport authorities, and ports. We take pride in providing the highest quality of customer support from our headquarters in Canada, and through our offices in Sweden, the United Kingdom, the Netherlands, Australia, Germany, India, Belgium, France, Spain, and China. For more information on Transoft's range of aviation, civil design, and traffic safety solutions, visit transoftsolutions.comContact InformationMedia Relationspublicrelations@transoftsolutions.com+1 604 244 8387 ext 2245Related ImagesTransoft Solutions Acquires AMAGSimon Washington will join Daniel Shihundu's Transoft team to helm Safety & Traffic OperationsSOURCE: Transoft Solutions Inc. Copyright 2024 ACN Newswire via SeaPRwire.com.
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GMG Recognized for Innovation by the Australian Financial Review ACN Newswire

GMG Recognized for Innovation by the Australian Financial Review

Brisbane, Queensland, Australia--(ACN Newswire via SeaPRwire.com - October 15, 2024) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce it has been recognized as one of the Most Innovative Companies in the Manufacturing & Consumer Goods category for 2024 by the Australian Financial Review, which is Australia's most-read premium business masthead.The AFR BOSS Most Innovative Companies list celebrates Australian businesses that are challenging the status quo. Now in its thirteenth year, this prestigious annual list ranks the most innovative organisations from Australia and New Zealand, and is the only national, cross-industry list of its kind.GMG's work in graphene production and product development has positioned the company at the forefront of this rapidly evolving field, enabling sustainable solutions in energy storage, electronics, and beyond."We are honored to receive this recognition, which reflects the hard work and dedication of our team," said Craig Nicol, CEO of Graphene Manufacturing Group. "This award validates our mission to harness the unique properties of graphene to develop innovative products that can positively impact the world."GMG's Chairman and Director, Jack Perkowski, commented: "Great to see the Company's innovative world leading work getting acknowledged in this way - congratulations to the team."Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/226664_cc296f8a948ea8f2_001full.jpgAbout GMGGMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications.The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving coating), lubricants and fluids.In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").GMG's 4 critical business objectives are:Produce Graphene and improve/scale cell production processesBuild Revenue from Energy Savings ProductsDevelop Next-Generation BatteryDevelop Supply Chain, Partners & Project Execution CapabilityFor further information please contact:Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226664 Copyright 2024 ACN Newswire via SeaPRwire.com.
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The 2024 PropertyGuru Asia Property Awards (Australia) celebrate modern and heritage real estate at Melbourne gala ACN Newswire

The 2024 PropertyGuru Asia Property Awards (Australia) celebrate modern and heritage real estate at Melbourne gala

MELBOURNE, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - PropertyGuru Group (NYSE:PGRU), Southeast Asia’s leading property technology company, today announced the winners of its Australian real estate awards at the Grand Hyatt Melbourne.The gala ceremony of the 7th PropertyGuru Asia Property Awards (Australia), supported by Sub-Zero Wolf, showcased the achievements of developers and design practices in New South Wales, Queensland, South Australia, Victoria, and Western Australia.BHC Property, Best Developer WinnerBHC Property has been crowned Best Developer, in addition to earning the title of Best Luxury Townhouse Development (Victoria) for its distinguished Mercer project.Polytec Australia, Best Boutique Developer WinnerPolytec Australia won the title of Best Boutique Developer, with its project Beauchamp Sydney receiving the Best Luxury Apartment Architectural Design (New South Wales) award.MRCB International, Sustainable Design Award WinnerMRCB International made history by winning the inaugural Sustainable Design Award. Its project 26 Vista was recognised for Best Apartment Architectural Design.Sydney Ma, Managing Director of Top Spring Australia, Australia Real Estate Personality of the Year Award WinnerOSK Property gained the prestigious Best Apartment Development (Australia) title for BLVD, which also garnered accolades for Best Wellness Residential Development, Best Integrated Work from Home Development, and Best Apartment Interior Design.Hexa and IFD won the prestigious Best Townhouse Development (Australia) title for Lumina Townhomes, which was also named Best Townhouse Development (Victoria). Meanwhile, Hexa and Spectre Property took home the Best Industrial Development award for Found Huntingdale.Blairgrove Group emerged as one of the most awarded companies of the year, winning Best Retail Development for The Burwood Chinatown and Best Retail Interior Design for The Grand Shanghai Hotel.In addition to outstanding modern developments, this year’s awards showcased Australia’s historic properties. Blairgrove Group also won the Best Heritage Development award for the Leichhardt Hotel while The Playford Adelaide – MGallery by Hachem Architecture Pty Ltd won the Best Heritage Interior Design and Best Hotel Interior Design awards.Other winning design practices include CHT Architects, winning Best Office Architectural Design for 101 Cremorne, and Parallel Workshop Architects, winning Best Apartment Architectural Design (Victoria) for Sculpt Hawthorn.Multi-award winners include Kingsbridge by Hermitage Building Group, which took Best Housing Architectural Design and Best Housing Interior Design, and Elements at Carousel by Jean Yip Developments, which won Best Investment Apartment Development and Best Apartment Development (Western Australia).Golden statuettes were also presented to Burswood Point by Golden Sedayu for Best Mixed Use Development; Chatswood Garden by FY Property, Kooringa Group, MA Financial, CPDM for Best Townhouse Development (New South Wales); and Scape Victoria Street by Scape Australia Pty Ltd for Best Student Accommodation Development.Sydney Ma, managing director of Top Spring Australia, received the Australia Real Estate Personality of the Year award from the editorial team of Property Report by PropertyGuru, recognising his company’s impressive portfolio of community-focused and sustainable projects.Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “From high-tech buildings to heritage landmarks, Australian real estate beautifully blends the old and the new. As we host our second physical gala in Melbourne, we take pride in recognising the forward-thinking, culturally attuned companies that have set a benchmark for quality and sustainability in the built environment. Australia faces many global challenges head-on and has increasingly embraced the needs of diverse demographic segments such as seniors and students. We are delighted to showcase the best projects, designs, and achievements of our winners to property seekers, investors, and agents throughout Australia and the Asia Pacific.”Ivan Lam, chairperson of the Awards in Australia, said: "We are proud to present the most coveted awards in Australian real estate to these paragons of development and design excellence. The wide range of titles awarded this year proves how developers are excelling not only in creating new builds but also in revitalising Australia’s rich legacy of heritage buildings. Our award winners have also demonstrated leadership in promoting environmentally friendly, socially responsible development and addressing the housing needs of Australians across all ages and backgrounds. Australia’s finest real estate reinforces the country’s strong cross-border appeal to inbound investors and property seekers, and we are delighted to showcase such properties on the international stage.”The independent panel of judges consists of Ivan Lam, executive director, international business, Charter Keck Cramer; Lui Violanti, vice-chairperson of the Awards in Australia and regional manager for Western Australia, Inhabit Group; Benson Zhou, director, hotels, CBD and metropolitan sales, and state head, Asia markets, Savills Australia; Catherine Tan, senior interior designer, Interite; Jackson Liew, director, Cameron Chisholm Nicol; Karen Kong, head of property lending, Bendigo Bank; Karl Fu, partner, Asian markets, Winning Commercial; Michelle Tay, group executive director, The SILC Group; Peter Li, general manager, Plus Agency; Richard Newling Ward, director, Bayleyward; Shanker Ramakrishnan, director, SR Business & Finance Consulting Pty Ltd; and Steven Yu, founder and CEO, Valorton Group.The fairness, transparency, and integrity of the judging process was overseen by Josh Chye, partner and head of tax at HLB Mann Judd – HLB Australasia. The official supervisor is part of the “2024 Network of the Year” winner HLB International, the global network of independent professional accounting firms and business advisers.Winners of the awards will be eligible to compete in the 19th PropertyGuru Asia Property Awards Grand Final on 13 December 2024. This will be held in Bangkok, Thailand during PropertyGuru Week that also features the annual PropertyGuru Asia Real Estate SummitOrganised by PropertyGuru Group (NYSE:PGRU), the PropertyGuru Asia Property Awards (Australia) are made possible by silver sponsor Sub-Zero Wolf; supporting associations Australasia Property Advisory Association; Australia Malaysia Business Council Victoria, Australian Property Developers Association, and Melbourne Chinatown Association; official magazine Property Report by PropertyGuru; official publicity partner Good Talent Media; media partners Australian Property Investor Magazine, Australian Property Journal, Marketing In Asia, PhilTimes.com.au, The Property Tribune, and Your Investment Property Magazine; and official supervisor HLB.For more information, email awards@propertyguru.com or visit the official website: asiapropertyawards.com.COMPLETE LIST OF WINNERSDEVELOPER AWARDSBest DeveloperWINNER: BHC PropertyBest Boutique DeveloperWINNER: Polytec AustraliaTHE ESG DEVELOPER AWARDSustainable Design AwardWINNER: MRCB InternationalDEVELOPMENT AWARDSBest Mixed Used DevelopmentWINNER: Burswood Point by Golden SedayuBest Industrial DevelopmentWINNER: Found Huntingdale by Hexa and Spectre PropertyBest Retail DevelopmentWINNER: The Burwood Chinatown by Blairgrove GroupBest Heritage DevelopmentWINNER: Leichhardt Hotel by Blairgrove GroupBest Luxury Townhouse Development (Victoria)WINNER: Mercer by BHC PropertyBest Townhouse Development (New South Wales)WINNER: Chatswood Garden by FY Property, Kooringa Group, MA Financial, CPDMBest Townhouse Development (Victoria)WINNER: Lumina Townhomes by Hexa and IFDBest Investment Apartment DevelopmentWINNER: Elements at Carousel by Jean Yip DevelopmentsBest Apartment Development (Western Australia)WINNER: Elements at Carousel by Jean Yip DevelopmentsBest Wellness Residential DevelopmentWINNER: BLVD by OSK PropertyBest Integrated Work from Home DevelopmentWINNER: BLVD by OSK PropertyBest Student Accommodation DevelopmentWINNER: Scape Victoria Street by Scape Australia Pty LtdDESIGN AWARDSBest Luxury Apartment Architectural Design (New South Wales)WINNER: Beauchamp Sydney by Polytec AustraliaBest Apartment Architectural DesignWINNER: 26 Vista by MRCB InternationalBest Apartment Architectural Design (Victoria)WINNER: Sculpt Hawthorn by Parallel Workshop ArchitectsBest Housing Architectural DesignWINNER: Kingsbridge by Hermitage Building GroupBest Office Architectural DesignWINNER: 101 Cremorne by CHT ArchitectsBest Apartment Interior DesignWINNER: BLVD by OSK PropertyBest Housing Interior DesignWINNER: Kingsbridge by Hermitage Building GroupBest Retail Interior DesignWINNER: The Grand Shanghai Hotel by Blairgrove GroupBest Hotel Interior DesignWINNER: The Playford Adelaide - MGallery by Hachem Architecture Pty LtdBest Heritage Interior DesignWINNER: The Playford Adelaide - MGallery by Hachem Architecture Pty LtdBEST OF AUSTRALIA AWARDSBest Apartment Development (Australia)WINNER: BLVD by OSK PropertyBest Townhouse Development (Australia)WINNER: Lumina Townhomes by Hexa and IFDPUBLISHER’S CHOICEAustralia Real Estate Personality of the YearWINNER: Sydney Ma, Managing Director, Top Spring AustraliaABOUT PROPERTYGURU ASIA PROPERTY AWARDSPropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair, and transparent. In 2024, the Awards series is open to key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2024. For more information, please visit AsiaPropertyAwards.comABOUT PROPERTYGURU GROUPPropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 28 million property seekers2 to connect with almost 46,000 agents3 monthly to find their dream home. PropertyGuru empowers property seekers with more than 2.1 million real estate listings4, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, and Vietnam.PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 16 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn(1) Based on SimilarWeb data between October 2023 and March 2024. (2) Based on Google Analytics data between October 2023 and March 2024. (3) Based on data between January 2024 and March 2024. (4) Based on data between October 2023 and March 2024.PROPERTYGURU CONTACTS:General Enquiries:Richard Allan Aquino, Head of Brand & Marketing ServicesM: +66 92 954 4154E: allan@propertyguru.com Media & Partnerships:Nate Dacua, Senior Manager, Media and Marketing ServicesM: +66 92 701 2510E: nate@propertyguru.comSales & Nominations:Watcharaphon Chaisuk (Jeff), Solutions ManagerM: +66 95 797 0595E: jeff@propertyguru.comMonika Singh, Solutions ManagerM: +66 87 677 4812E: monika@propertyguru.com Copyright 2024 ACN Newswire via SeaPRwire.com.
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GA-ASI Completes Full-Scale Fatigue Test on MQ-9B for Second Lifetime ACN Newswire

GA-ASI Completes Full-Scale Fatigue Test on MQ-9B for Second Lifetime

SAN DIEGO, CA, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - On Sept. 30, 2024, General Atomics Aeronautical Systems, Inc. (GA-ASI) completed a major milestone with the full-scale fatigue testing of an MQ-9B Remotely Piloted Aircraft (RPA). The team completed the "second lifetime" of fatigue testing, which is equivalent to 80,000 operating hours and represents an important step in validating the design of the airframe system. The testing is part of the aircraft certification to NATO standard STANAG 4671, where the aircraft will ultimately be tested through three lifetimes, thereby proving the 40,000-hour lifetime of the airframe.The full-scale fatigue test simulates the aircraft's design service through the application of repeated structural loading on the assembled airframe. The testing identifies any potential structural deficiencies ahead of fleet usage and assists in developing inspection and maintenance schedules for the airframe. The results of the test will be used as part of the documentation for certification and will form the basis for in-service inspections of structural components.MQ-9B is GA-ASI's most advanced RPA and includes the SkyGuardian® and SeaGuardian® models as well as the new Protector RG Mk1 that is currently being delivered to the United Kingdom Royal Air Force (RAF)."Full-scale fatigue testing is an integral part of validating the airframe design and a key input for the certification of the airframe prior to entering service," said Chris Dusseault, vice president of MQ-9B in Europe. "The completion of the fatigue test builds confidence for our MQ-9B customers that the SkyGuardian/SeaGuardian meets the stringent design rigor and is mature at Entry into Service."The testing is the validation of years of design and analysis efforts. This is the second of three lifetimes of testing for the airframe. Two of the lifetimes simulate the operation of an aircraft under normal conditions, and the third has intentional damage inflicted on the airframe's critical components to demonstrate its resistance to operational damage that may occur over the lifetime of the air vehicle.Testing was conducted from Jan. 31, 2024, through Sept. 30, 2024, at Wichita State University's National Institute for Aviation Research in Wichita, Kansas. The airframe tested is a production airframe purpose-built to support the test campaign.In addition to the RAF, contracts have been signed for MQ-9B with Belgium, Canada, Japan, Taiwan and the U.S. Air Force in support of the Special Operations Command. The Japan Coast Guard is currently operating the SeaGuardian for maritime operations, and the Japan Maritime Self-Defense Force (JMSDF) selected SeaGuardian for its Medium-Altitude, Long-Endurance (MALE) RPA System Trial Operation Project.About GA-ASIGeneral Atomics Aeronautical Systems, Inc. (GA-ASI), an affiliate of General Atomics, is a leading designer and manufacturer of proven, reliable RPA systems, radars, and electro-optic and related mission systems, including the Predator® RPA series and the Lynx® Multi-mode Radar. With more than eight million flight hours, GA-ASI provides long-endurance, mission-capable aircraft with integrated sensor and data link systems required to deliver persistent situational awareness. The company also produces a variety of sensor control/image analysis software, offers pilot training and support services, and develops meta-material antennas.For more information, visit www.ga-asi.com.Avenger, Lynx, Predator, Reaper, SeaGuardian, and SkyGuardian are registered trademarks of General Atomics Aeronautical Systems, Inc.Contact InformationGA-ASI Media Relationsasi-mediarelations@ga-asi.comSOURCE: General Atomics Aeronautical Systems, Inc. Copyright 2024 ACN Newswire via SeaPRwire.com.
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US Rate Cut and China Stimulus Ignite Fosun’s Surge

HONG KONG, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - As we enter the fourth quarter, the market buzzes with optimism. The U.S. Federal Reserve’s interest rate reduction, aimed at bolstering liquidity, has drawn Chinese mainland capital inflow into the Hong Kong stock market. Just before China’s National Day holiday, the People’s Bank of China (PBOC) unveiled a series of pivotal measures: a reserve requirement ratio cut, an interest rate reduction, and a decrease in existing mortgage rates. Analysts and commentators widely regard these moves as unprecedented since 2008. Notably, the PBOC’s injection of at least RMB 800 billion into the stock market represents a historic milestone.On 10 October, the People’s Bank of China (PBOC) made a significant move by introducing a swap facility, initially valued at RMB500 billion. This facility aims to bolster capital market development and further invigorate both the Hong Kong and A-share markets. Just two days later, on 12 October, Lan Fo’an, Minister of Finance of the People’s Republic of China, announced a forthcoming series of targeted incremental fiscal policy measures. These measures are designed to support high-quality economic development, with a focus on stabilizing growth, expanding domestic demand, and mitigating risks. As the economy stabilizes and corporate earnings improve, the overall market is poised for a new phase of growth.Interest rate cuts poised to register gains in Hong Kong’s stock marketThe U.S. Federal Reserve has implemented a 50-basis-point interest rate cut, the first in four years. According to the Fed’s projections, the federal funds rate is expected to reach 4.4% by year-end, falling within a target range of 4.25% to 4.5%. Looking ahead, the rate is anticipated to decrease further to 3.4% by 2025 and 2.9% by 2026. Market sentiment suggests that another 50-basis-point rate cut may occur this year, with expectations of a full 100-basis-point reduction next year.As the Federal Reserve initiates rate cuts, it will ease the capital outflows and stabilize currency fluctuations in countries beyond the United States. This policy shift also grants greater flexibility to central banks worldwide, including China, enabling them to tailor their monetary strategies to foster economic expansion and bolster stock market performance. In this evolving landscape, bonds emerge as an attractive option. As deposit rates are projected to gradually decrease during the rate-cutting cycle, investors can secure appealing fixed returns over the long term. Additionally, both stocks and bonds—particularly those with robust growth potential and stable fundamentals—are poised to attract significant interest among investors in the short term.Despite several major supportive measures introduced by the central government, the stock market experienced a pullback after the National Day holiday. Nevertheless, institutions like Morgan Stanley, HSBC, and CITIC have expressed confidence in the government’s unwavering dedication to economic stimulation. These institutions anticipate the gradual introduction of additional measures, amounting to trillions, with an aim at bolstering the economy. Market sentiment suggests that these economic stimulus measures will be moderate and sustained, recognizing that a steady rise in stock market plays a crucial role in driving economic growth and encouraging consumer spending.Given the government’s steadfast commitment to boosting consumption, Fosun International (00656), a leading global innovation-driven consumer group, remains undervalued for an extended period. It is poised to emerge as a frontrunner. Notably, the significant increase in Fosun International’s share price subsequent to earlier stimulus measures underscores its considerable growth potential. Successfully building industry leaders to strengthen core industrial advantagesSince 10 September, Fosun International’s stock price has steadily risen, resulting in an impressive cumulative increase of 58.46%. Notably, this increase surpasses the Hang Seng Index’s 34.26% increase during the same period. The recent surge in Fosun International’s share price is underpinned by the company’s solid fundamentals. Guo Guangchang, Chairman of Fosun International, emphasized during the interim results presentation that despite the challenging macro environment, Fosun International remains committed to its core business-focused strategy and continued to cultivate industry-leading companies and develop excellent products in advantageous sectors. So far, this strategy has yielded positive results.Recently, Fosun International strengthened its advantages in core industries such as pharmaceuticals, tourism, consumption, and insurance by focusing on its core businesses, garnering market optimism. During the National Day holiday, the tourism sector experienced a strong start, with the tourism-related stocks seeing significant growth. During the first week of October, Fosun Tourism Group’s (FTG) share price surged nearly 40%, reflecting the market’s high recognition of the company’s asset-light strategy and investors’ confidence in FTG’s growth potential. Currently, 85% of FTG’s resorts operate under an asset-light model, making it one of the few leading tourism companies in the domestic market with both an asset-light approach and global operational capabilities.Guo Guangchang mentioned on Weibo that the stock market’s rally before the holiday gave everyone a sense of financial comfort. The wealth effect of rising stocks has truly stimulated consumer demand and driven an increase in spending. Sales of the company’s Atlantis Sanya and Shede’s baijiu saw a rapid rise during the holiday. Taking Shede as an example, as a renowned Chinese liquor company, it carried out promotions across its entire product line during the National Day holiday. Several products showed significant year-on-year increases compared to last year’s sales. Among them, the high-end strategic product in the RMB1,000 price range, Collection Shede 10-Year Edition, saw a remarkable year-on-year sales growth of 384%. Crystal Shede experienced a 224% increase in sales, while the sales of T68 Tuopai Exceptional grew 80%, and the sales of Tuopai Qiujiu rose 69%.In addition to the improving tourism and consumer businesses, Fosun’s pharmaceutical and insurance businesses have also attracted positive market attention. As a leader in pharmaceutical innovation in China, Fosun Pharma has been optimizing its asset structure and accelerating cash inflow this year. It recently announced its plans to privatize its innovative drug platform, Shanghai Henlius, and to fully acquire the core cell therapy platform, Fosun Kite, with a view to focusing on its core innovative assets. Supported by favorable national measures and strong R&D and commercialization capabilities, Fosun Pharma has established itself as a leader in China’s innovative drug market. In the first half of the year, it generated over RMB3.7 billion in revenue from innovative drugs, with steady growth expected in the second half. During the National Day holiday, Fosun Pharma’s share price performed well and continued to increase. Since September, its share price has risen nearly 25%.Recently, Fitch, one of the leading international credit rating agencies, upgraded Fidelidade’s Insurer Financial Strength (IFS) Rating to “A+” from “A” and its Long-Term Issuer Default Rating (IDR) to “A” from “A-”, maintaining stable outlooks. This represents the highest ratings Fitch has granted to a Portuguese financial company. The upgrade confirms that strategies implemented by Fidelidade have consistently strengthened its financial stability and reflects the improvement in Fosun’s global operational capabilities. Fitch highlighted Fidelidade’s sound business profile, strong capitalization, robust financial performance and profitability, and low investment portfolio risk.USD888 million syndicated loan issuance demonstrates continued recognition of Fosun’s credit quality by domestic and international banksOn 30 September, Fosun International announced the closure of a sustainability-linked syndicated loan totaling USD888 million through greenshoe, one of the largest of its kind issued by Chinese private enterprises this year. It is worth mentioning that the loan is a three-year senior unsecured working capital loan and the participating banks include several leading banks from Greater China, the Asia-Pacific region, and Europe and the Americas. This reflects the continued recognition of the Group’s credit quality by both domestic and international banks. Fosun’s sound financing channels can lay a solid foundation for the company’s steady development.Recently,several securities firms have highlighted the effectiveness of Fosun International’s core business-focused strategy, with innovation and globalization driving healthy growth, while maintaining a declining leverage ratio and sound financials. Fosun has actively optimized its asset portfolio, consistently reduced leverage and strengthened cash reserves. As of 30 June 2024, the Group’s adjusted total debt-to-capital ratio was 50.2%, maintaining a downward trend since 2020. In June 2024, international rating agency S&P fully recognized the effectiveness of Fosun’s financial strategy and affirmed its rating outlook as “stable”.According to various research reports, as Fosun’s business becomes more focused and its financial indicators improve, its future business development and profitability are becoming more predictable. Notably, globalization, innovation, and its sound asset-light operational capabilities are poised to drive a new round of growth for Fosun.It is evident that benefiting from national measures, Fosun International and its subsidiaries have entered a new phase for potential valuation enhancement. The recent pullback in share prices could be an attractive buying opportunity for investors. Copyright 2024 ACN Newswire via SeaPRwire.com.
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