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SeaPRwire

Trident Launches Crypto Asset Management Platform for Retail Investors

December 6, 2022

New York, NY, December 06, 2022 – (SEAPRWire) – The crypto asset management platform focuses on risk management despite challenges like high market volatility – Trident Crypto, on 16th Nov announced its launch. As the new division of the forex industry expert with many years of experience entering the cryptocurrency space, Trident Crypto is a platform that enables users to store, manage and keep track of their digital assets, includes cryptocurrency, utility coins, stable coins, investment token, NFTs and more. While forex company focus more on reviewing and formulating comprehensive strategies for the institutional investors, data showing that retail investors started moving towards cryptocurrency investing a couple of years back due to its lower barrier nature. Established in 2007, Trident Crypto was co-founded by a team of crypto experts who have over 10 years of experience in building technology and product-based ventures and expertise in crypto solutions and products. Founder and CEO of Trident Crypto stated, “We execute trades and fund allocation on the most efficient and reliable crypto exchanges and platform. Our ecosystem covers the needs of clients in different aspects of their life.” Trident Crypto has received over 45,000 applications on its platform since the mobile app gone live in the beginning of 2022. The mobile app provides both local and global investment products and absorbing most of their investors fund by reducing risk to the lowest through safe secured profits by Trident. Trident Crypto has shown itself to be a trusted option by integrate with global top 4 exchange partners as liquidity provider to execute SATs. This platform is undoubtedly a considerable innovation in the crypto world, allowing anyone to enter with low barriers and high efficiency. Media contact Brand: TRIDENT Contact: Media team E-Mail: info@tridentcrypto.io Website: https://tridentcrypto.io SOURCE: TRIDENT The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)

ACN Newswire

Hektar REIT’s ESG Commitment Rewarded with Two Awards

November 29, 2022

KUALA LUMPUR, Nov 29, 2022 - (ACN Newswire via SEAPRWire.com) - Hektar Asset Management Sdn Bhd, the Manager of Hektar Real Estate Investment Trust (Hektar REIT), Malaysia's first retail-focused REIT, is pleased to announce that Hektar REIT is the proud recipient of two Silver awards at the inaugural of The Edge Malaysia ESG Awards 2022: Most Improved Performance Award Over Three Years (for Market Cap below RM300M) and Property & REIT Sector Award.Muhammad Bakhtiar Ul Haq, Assistant Manager, IR, ESG & Special Projects of Hektar Asset Management; Mohd Zaharim bin Mohd Yatim, Senior Manager, Special Projects of Hektar Property Services; Syairul Irwan Rased, Assistant GM, Business Strategy, Martin Chen, GM, Legal, Zarina Halim, CCO, Johari Shukri bin Jamil, CEO and Lim Kek Siang, Senior GM, Finance of Hektar Asset Management and Sanggat Singh, Senior Manager, Group Facilities Management of Hektar Property Services [L-R]The Edge Malaysia editor-in-chief Kathy Fong; Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift; Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn Bhd; Helena Fung, the head of sustainable investment for Asia-Pacific at FTSE Russell; and Datuk Ho Kay Tat, the publisher and group CEO of The Edge Media Group [L-R]The awards seek to recognise and honour Malaysian companies for their commitment to developing and enhancing their business operations according to the Environmental, Social and Governance (ESG) principles. The award ceremony was held at a gala dinner at the Sunway Resort Hotel on 28 November 2022.The Edge Malaysia ESG Awards 2022 comprised two categories - the Equity Awards and the Fund Awards. The Equity Awards were organised in collaboration with Bursa Malaysia and FTSE Russell and the Fund Awards were in collaboration with the Securities Commission and Morningstar. These awards were aimed at promoting ESG adoption and leadership amongst industry leaders and professionals by recognising their contributions and successes. Hektar REIT qualified under the category of Equity Awards, whereby a company must be listed on Bursa Malaysia and be a constituent of the FTSE Bursa Malaysia EMAS index as of June 2022.En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd. (Hektar Asset Management), the Manager of Hektar REIT said: "We are honoured to be conferred with these prestigious awards, a testament and recognition of our efforts in driving Sustainability initiatives since we embarked on the core focus on its three pillars of E, S and G across the organisation in 2017. Our commitment to ESG principles is long-term, as we recognise that all of us have a responsibility to our stakeholders. We remain committed to further advancing our efforts in managing material sustainability matters in the area of environmental conservation, including climate change mitigation and adaptation, water & waste management, and managing energy consumption, including incorporating renewable energy in our energy mix." En Johari emphasised that the company will continue to ensure that its initiatives are in accordance with the company's corporate social responsibility (CSR), industry best practices and investors' expectations. Over the years, Hektar REIT has joined hands through many partnerships and collaborations with local and international organisations, providing support to NGOs' and charity programs to support underprivileged and marginalised communities besides advancing and empowering women to improve their financial independence for the benefit of families."We recognise the need for responsible sourcing and are working closely with external parties, such as our tenants and vendors, to reduce our carbon footprint across the value chain. An example is the recently introduced Reverse Vending Machine (RVM) to recycle plastic bottles and cans at Subang Parade as a pilot project to play our role and reward our loyal patrons with vouchers for redemption for their continued commitment to becoming a part of a responsible society. We will also continue integrating ESG into all aspects of our business, from financial management to operations and future planning to deliver resilient and sustainable long-term value for our stakeholders."In June 2022 FTSE Russell evaluation, Hektar REIT was upgraded from a 3-star to a 4-star ESG rating on the FTSE4Good Bursa Malaysia Index (F4GBMI). Based on the F4GBMI evaluation of the results, Hektar REIT is inspired and encouraged to continue its efforts to improve initiatives in all three core areas of Environmental, Social & Governance and embed these core principles into its business DNA.Hektar REIT: http://www.hektarreit.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Komainu Secures MVP Licence from Dubai’s Virtual Assets Regulatory Authority

November 23, 2022

DUBAI, UAE, Nov 23, 2022 - (ACN Newswire via SEAPRWire.com) - Komainu (Custodian), a regulated digital asset custody provider built by institutions for institutions, has announced today that it has received the minimal viable product (MVP) licence from Dubai's Virtual Assets Regulatory Authority (VARA), following the issuance of its provisional approval in July 2022. The MVP licence means that Komainu can offer an approved range of virtual asset related services to institutional investors in Dubai within an internationally benchmarked legislative framework for virtual asset service providers (VASPs) following completion of its readiness requirements. The transition to an MVP licence, from a provisional approval received earlier this year, means Komainu can provide institutional clients in the UAE with: - Virtual Assets Custodial Services- Virtual Assets Management ServicesKomainu MEA FZE is the first 'dedicated" institutional digital asset custodian to receive its MVP licence approval from VARA.VARA is the world's first specialised regulator for the virtual assets sector. Established in March 2022, following the effect of Law No.4 of 2022, VARA is responsible by decree for licensing and regulating the virtual asset sector in the Emirate of Dubai, and oversees all licensing requirements and applications for authorisation of virtual asset activities under UAE law. VARA plays a central role in creating Dubai's advanced legal framework to protect investors and establish international standards for virtual asset industry governance, which will allow the region to become one of the world's most favourable jurisdictions for virtual asset initiatives. Komainu acts as key gatekeeper to institutions gaining exposure to the virtual asset industry with the provision of secure and regulated virtual asset custody services for blockchain and beyond. Over the years, Komainu has established itself as one of the leading virtual asset custody providers for institutional clients, providing the same safeguards and protections investors are accustomed to in traditional finance. The Custodian's industry-leading services have been designed by security, financial services and cryptocurrency experts and have been reviewed independently by external auditors.His Excellency Helal Saeed Al-Marri, Chairman of VARA said, "In this current phase of heightened global appreciation for responsible virtual asset participant, VARA is pleased to onboard our first tradFi VASP - Komainu to join the MVP phase of the regulatory regime. Participation from the VA specialist ventures of deeply respected global financial institutions, allows VARA the opportunity to structure interoperable guidelines and risk mitigation levers for secure market operations. The VARA regime is structured to catalyse collaboration and prioritise public protection with a mission to provide a progressive regulatory framework for the virtual assets industry. We look forward to active engagement with Komainu and other select global players during this phase."Nicolas Bertrand, CEO of Komainu, commented: "We continue to be very excited by the development of the virtual asset industry in the UAE and are keen to have a strong positive impact in the region. Komainu actively works with regulators, partners, and our clients to make sure that our platform and the overall industry is held to the highest of standards to facilitate the wide adoption of virtual assets by institutions. With the full MVP licence now granted by VARA, we look forward to launching our services in the MEA region and assist institutions gain exposure to virtual assets, whilst relying to secure and regulated virtual asset custody services."For further information contact:INACTA Communicationsmedia@inacta.com0585876888 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Society Pass Inc (Nasdaq: SOPA) Adds Cypto Currency Payments Capabilities by Partnering with Canada-based CoinSmart Financial Inc (NEO: SMRT) (FSE: IIR)

November 7, 2022

SINGAPORE, Nov 7, 2022 - (ACN Newswire via SEAPRWire.com) - Society Pass Incorporated ("SoPa") (Nasdaq: SOPA), Southeast Asia's (SEA") leading data-driven fintech and e-commerce ecosystem, today announces the establishment of a strategic crypto currency payment partnership with Canada-based CoinSmart Financial Inc ("CoinSmart") (NEO: SMRT) (FSE: IIR), a leading Toronto-headquartered crypto asset trading platform.Under this paradigm shifting collaboration, SmartPay by CoinSmart provides transaction settlement services in crypto currency for consumers and merchants on SoPa's ecosystem. Leveraging CoinSmart's advanced technological solutions spanning crypto payments, invoicing, trading, auto-sell wallets and crypto withdrawals, SoPa now offers more diversified and cost-saving payment options. In particular, merchants on SoPa's loyalty platform are now enabled to enjoy new growth in customer base, low processing costs and quicker settlement processes.Backed by the ever-increasing number of users worldwide, crypto has become the world's fastest-growing payment method. According to Allied Market Research, the global crypto currency market size was valued at US$1.03 billion in 2022 and is projected to reach US$4.94 billion by 2030, growing at a CAGR of 12.8% from 2021 to 2030. Along with the continuous expansion of the global market, according to a new survey by Deloitte, nearly 75% of retailers plan to accept crypto payments in the next 24 months.CoinSmart's user-friendly platform features instant verification, enterprise-grade security, cold wallet storage and reporting tools for tax and audit purposes in the meantime. Currently, CoinSmart supports popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Stellar, etc. as well as fiat currencies including CAD, USD, EUR and AUD.Dennis Nguyen, Founder, Chairman and Chief Executive Officer of Society Pass, explained, "According to a report by White Star Capital, SEA is a hotbed for crypto adoption with over 23.5 million crypto owners alone or a 3.56% crypto ownership rate. In fact, Singapore has a higher percentage of crypto ownership than the United States. As a result, we see huge market potential and demand in crypto payments in the region and, combined with the synergistic effect created from the payment partnership with CoinSmart, SoPa's data-driven fintech and e-commerce ecosystem will drive crypto payment adoption in SEA even higher.""We are beyond excited to extend our partnership landscape to Canada and to welcome CoinSmart to the SoPa family as it perfectly aligns with our expansion and partnership strategy. After incorporating CoinSmart's blockchain capabilities, our ecosystem is expected to see an increase in the number of customers, user viscosity and revenue growth," added Mr. Nguyen.Started in 2018, CoinSmart has been a secure and intuitive platform for trading digital assets. As a FINTRAC restricted dealer and marketplace through the Canadian Securities Association (CSA), CoinSmart breaks down the barriers of complex cryptocurrency transactions with an emphasis on educating the crypto curious. CoinSmart, in addition, offers simple solutions, learning tools for all levels, and 24/7 omni-channel client support.Justin Hartzman, CEO of CoinSmart, commented "The vision of CoinSmart is to build a democratised crypto trading platform where consumers can easily access payments via email, user's business website and in-person at a click of a button. As crypto is the fastest-growing payment method across the globe, our SmartPay services eliminate chargebacks and significantly reduce costs of processing fees compared to other processing options. By joining forces with SoPa's extensive ecosystem and large user base in SEA, we are thrilled about the combined marketing capabilities we now bring collectively to our partners and customers."Society Pass has been leveraging cutting edge technology to tailor an unprecedented purchase experience for the next generation customers with an aim to ultimately transform the entire retail value chain in SEA. SoPa makes continuous efforts in diversifying the Company's ecosystem and capturing growing opportunities in the market under new meta economy, by means of strategic acquisitions of market-leading companies and partnerships with visionary entrepreneurs in six distinct B2C e-commerce verticals: loyalty, lifestyle, food & beverage delivery, telecoms, digital marketing, and travel.About Society Pass IncFounded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan, a leading local restaurant delivery service in Philippines.For more information on Society Pass, please check out:Website at https://www.thesocietypass.com orLinkedIn at https://www.linkedin.com/company/societypass orFacebook at https://www.facebook.com/thesocietypass orTwitter at https://twitter.com/society_pass orInstagram at https://www.instagram.com/societypass/.About CoinSmartCoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand. CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency knowledge and unparalleled 24/7 omni-channel customer support. Offering instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services, CoinSmart ensures every client's needs are met with the highest level of quality and care. For more information, please visit www.coinsmart.com or smartpay.coinsmart.com. Cautionary Note Concerning Forward-Looking StatementsThis press release may include forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as anticipate", believe", estimate", expect", intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.Media Contacts:PRecious Communicationssopa@preciouscomms.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Hong Kong Digital Asset Exchange Attends Hong Kong Fintech Week 2022

November 1, 2022

HONG KONG, Nov 1, 2022 - (ACN Newswire via SEAPRWire.com) - Hong Kong Digital Asset Exchange ("HKD.com"), the first digital asset exchange to combine both an online platform and a sizable physical store in Hong Kong, attended the Hong Kong Fintech Week for the second year in a row. HKD.com with financial leaders from all over the world to explore breakthroughs in different aspects of financial and technology services and beyond.Mr. Kelvin Yeung, founder and CEO of HKD.com shared his views on the investment value of the cryptocurrency ecosystem.The Hong Kong Government is promoting the development of fintech industry. HKD.com will explore the extraordinary possibilities of innovative fintech with industry leaders in this opportunity and play a leading role in the development of the fintech industry in Hong Kong. Mr. Kelvin Yeung, founder and CEO of HKD.com, as the guest speaker of Web3 Stage, discussed with other leaders on the topic of "Has Crypto Come of Age: All Grown-up & Ready to Work". He shared his views on the investment value and risk of the cryptocurrency ecosystem, as well as the potential of DeFi (Decentralized Finance). When the discussion turned to whether the entry of traditional financial institutions into digital asset custody would disrupt the custody game, the atmosphere was intense. Industry leaders expressed their views on the topic.Hong Kong Fintech week is a benchmark fintech event in Asia, organised by the Financial Services and the Treasury Bureau and Invest Hong Kong, and co-organised by the Hong Kong Monetary Authority, the Securities and Futures Commission and the Insurance Authority. The conference brings together global leaders and renowned sponsors across different verticals, alongside the world-leading fintech innovations to explore the future development of fintech through four key themes. Web3 and metaverse technologies are the main focuses of this year's event.HKD.com joined with Crypto Hong Kong and planned to open a crypto trading metaverse store. Crypto Hong Kong is a decentralized, community-driven urban ecosystem using cutting-edge technology to create a digital twin city of the Metaverse.About Hong Kong Digital Asset ExchangeFounded in Hong Kong, Hong Kong Digital Asset Exchange (HKD.com) is a world-class digital asset trading platform for the world. HKD.com is committed to the materialization and popularization of digital currency. In addition to the secure online digital currency trading platform, it has also set up a digital currency trading entity store with an area of nearly 10000 feet in the core commercial area of Hong Kong, which can be called one of the largest digital asset exchanges in Hong Kong. HKD.com will actively launch a POS terminal system based in Hong Kong, promote digital currency to cooperative retail partners as a new payment method, and provide investors with a more convenient, reliable and powerful digital financial platform experience.Website: https://www.hkd.com/Media enquiries:Hong Kong Asia Cultural DisseminationTel: (852) 3751 5901 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

SeaPRwire

LEO12 Reports on ‘ SARB’s guidance notice will lead to massive opportunities for South African crypto participants’

September 16, 2022

Johannesburg, South Africa, September 16, 2022 – (SEAPRWire) – LEO12 has released a report on ‘ SARB’s guidance notice will lead to massive opportunities for South African crypto participants’. Crypto asset exchange LEO12 evaluates that the SARB’s guidance notice have begun the first stage of the crypto industry’s development in South Africa. With the crypto space maturing rapidly, regulators around the world are accelerating efforts to either embrace or regulate crypto assets. The South African Reserve Bank’s Prudential Authority has issued a guidance note to banks discouraging them from cutting off companies that offer cryptocurrency services. South Africa’s main banking industry regulator, the Prudential Authority, has said some banks’ decisions to terminate relationships with crypto entities “may pose a threat to financial integrity in general.” In addition, the regulator suggested that avoiding cryptocurrency entities completely could potentially weaken banks’ risk management processes. According to the officials of LEO12 exchange, “Many other central banks and financial institutions around the world now adhere to policies to tighten regulations on the crypto sector. Therefore, we welcome this SARB’s guidance note very positively. This means that the South African government is convinced of the development of the crypto industry and intends to take the lead in Africa. We look forward to South Africa becoming the most innovative crypto industry hub in Africa.” “We fully understand that banks are a key service provider for crypto asset businesses, connecting users with local fiat money. And the proper regulations provide trust to crypto operators and users, helping the market growth. The SARB’s guidance note is the first step in promoting cooperation between banks and crypto operators, and we hope this will help more people in South Africa get one step closer to Crypto.” “The top priority for the LEO12 exchange is to ensure that our customers trade their assets safely and to prevent illegal money laundering. To do so, we believe that it will be easier to work with crypto operators and existing banks under some clear regulations to provide customers with more solutions, giving them confidence in crypto. It’s paradoxical when you think about the ideology of crypto and blockchain technology, but if you look at crypto from a financial perspective.” LEO12 is conducting a safe and reliable crypto asset service to customers in South Africa within the regulatory frameworks of the Financial Sector Conduct Authority (FSCA) and the Intergovernmental Fintech Working Group (IFWG) and is constantly commenting when FSCA designs the regulatory framework. LEO12 also strengthened monitoring and reporting of crypto asset transactions by completing the goAML registration (REF/SHREG-220210-0000053) in February 2022 to prevent money laundering and terrorist financing in accordance with the Financial Intelligence Centre (FIC). About LEO12 crypto exchange LEO12 exchange is a digital asset trading platform based in South Africa. LEO12’s aim is to use blockchain and digital assets to allow all users to access fair financial services, regardless of their location in the world or their economic position, especially in the African continent. Launched in 2021, LEO12 offers popular cryptocurrency trading such as Bitcoin, Ethereum, USDT, Ripple, Litecoin, Filecoin and 12 trading pairs with deep liquidity, competitive execution rates, and low fees. As a customer-centric exchange, LEO12 pursues to offer features that promote ease of use for African crypto users. Team LEO12 provides that users can purchase digital assets with ZAR within an hour and provides high-speed, stable performance, and a smooth experience of deposit and withdrawal. LEO12 is available on Desktop, Android, and iOS Social Links Twitter: https://twitter.com/LEO12_EXCHANGE Facebook: https://www.facebook.com/leoexchange Telegram: https://t.me/leo12exchange YouTube: https://www.youtube.com/channel/UCYexKq91XrueYQ5NwgzKxYg/featured Media Contact Brand: LEO12 Contact: Rendani Ramaphosa Email: support@leo12.com Website: https://www.leo12.com SOURCE: LEO12 The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)

ACN Newswire

VC Holdings Announces 2022 Interim Results

September 1, 2022

HONG KONG, Aug 31, 2022 - (ACN Newswire via SEAPRWire.com) - Value Convergence Holdings Limited ("VC Holdings", together with its subsidiaries, the "Group"; Stock Code: 0821.HK), a well-established and one-stop financial services institution in Hong Kong, is pleased to announce its unaudited interim results for the six months ended 30 June 2022 ( the "Reporting Period"). The Group tirelessly pursued opportunities to diversify its business during the Reporting Period, and expanded its digital asset business with good progress. During the Reporting Period, the recurrent outbreaks of COVID-19, coupled with persistently high inflation and conflict between Russia and Ukraine, posed unprecedented challenges to the global economy, intensifying uncertainty in the global and Hong Kong financial markets. The Group's consolidated revenue from continuing operations decreased by 6.0% year-on-year to approximately HK$35.7 million. Due to the increase in net realised and unrealised loss in financial assets at fair value through profit or loss, and the impairment loss on accounts receivable and other receivables, the consolidated loss for the period attributable to shareholders amounted to approximately HK$61.8 million (1H2021: profit for the period attributable to shareholders of HK$101.1 million). Basic loss per share from continuing and discontinued operations was HK2.97 cents (1H2021: Basic earnings per share from continuing and discontinued operations of HK5.93 cents). Mr. Peter Fu, Chairman and Executive Director of Value Convergence Holdings Limited, "VC Holdings has always been dedicated to offering premier financial services and products that fulfill various investment and wealth management needs of clients in the Great China region. During the first half of 2022, amid the lingering impact of Coronavirus Disease 2019, the global economy continued to struggle with persistent downside risks including escalating geopolitical tensions, growing financial instability and surging inflation, all of which hindered economic growth. The Group's revenue declined due primarily to a reduction in brokerage commission income that was broadly in line with the deterioration of the economic environment and the contraction in transaction volumes in the market overall."Business OverviewFinancial services businessThe financial services business remained the Group's major revenue stream during the Reporting Period and contributed approximately 98% of the Group's total revenue. The business segment recorded a 7% decrease in revenue amid an overall decline in the volume of economic transactions. During the Reporting Period, the Group continued to provide local and overseas securities dealing, derivatives and other structured products trading, placement and underwriting, margin financing through VC Brokerage Limited and VC Futures Limited, and money lending through VC Finance Limited. Besides, the Group offered corporate finance advisory services, including mergers and acquisitions advisory and company secretarial services, through VC Capital Limited ("VC Capital") and VC Corporate Services Limited. During the Reporting Period, VC Capital was appointed as a financial adviser to a number of Hong Kong-listed companies engaged in corporate exercises.Proprietary trading businessThe pronounced slowdown in the global capital market, mainly led by high inflation and interest rate hikes amid the double-whammy of the renewed threat of COVID-19 variants and the Russo-Ukrainian war, resulted in substantial volatility in the local stock market. Aligned with the overall market situation, the Group held equity securities listed in Hong Kong worth approximately HK$414.9 million as financial assets held for trading, marking a 2.0% decrease in the market value as compared with 31 December 2021. Despite the challenges, the Group continued to focus on the fundamentals of its investment targets and will continue actively to pursue long-term capital gains.Sales and marketing of digital assetsTo further expand the newly developed business, VC Holdings continued to push forward expansion in various respects to actively enter the internet-native Generation Z market. The Group has recruited a seasoned team of sales and marketing talents to broaden its sales channels with a view to expediting business development. In addition, the Group has formed strategic cooperation agreements with several leading corporations, such as E-Home Entertainment, to commence in-depth cooperation in the internet industry and jointly carry out integrated market development in various areas, including the Chinese console games market, the expansion of domestic games into overseas markets, and digital marketing. During the Reporting Period, the Group deepened its collaboration with Tencent and became one of the few distributors of Tencent's Q Coins covering a considerable number of provinces in China. Meanwhile, the Group commenced collaboration with the distributor of Microsoft products in Hong Kong in connection with sales of Xbox-related virtual assets. The Group has also begun a collaboration with Xunlei Limited (NASDAQ: XNET) to sell non-fungible tokens. During the Reporting Period, the Group recorded a gross merchandise value of approximately HK$120.0 million, represented by the gross sum of digital assets sold to its customers. OutlookThe uncertain macroeconomic outlook is expected to continuously affect financial stability, resulting in a more volatile stock market. On a positive note, the gradual easing of social distancing measures and a reduction in cross-border transportation disruptions, alongside the stabilization of the local pandemic situation in Hong Kong, will help boost economic activities. The Group remains cautiously optimistic about the outlook for its placing and underwriting business, given that fundraising activities among Hong Kong-listed companies is expected to resume gradually. It seeks to expand the scale of its financial services business and continue to identify suitable acquisitions and investment targets in the market as opportunities arise.The Group intends to accelerate the development of digital asset business through digital asset marketing, intellectual property (IP) collaboration and marketing cooperation. To further strengthen its presence and drive synergies between the internet business offered by digital assets and other business segments, more resources have been allocated to further develop the sale and marketing of digital assets to broaden sales channels. The Group will continue to explore and liaise with potential business partners on sales of digital assets and NFTs.Mr. Fu concluded, "Given the huge potential of the digital asset market, we will keep exploring new business opportunities in the mainland China digital asset market, capitalizing on our strategic partnerships and in-depth business collaborations with our allies, namely E-Home Entertainment and Shenzhen Yiyun Information. More resources will be dedicated to mapping out a blueprint for the digital asset segment accordingly. We believe, that the new business will become a new key driver of the Group in the years to come, improving profitability and generating maximum value for all stakeholders."About VC Holdings Limited Value Convergence Holdings Limited (Stock code: 0821.HK) was listed on the GEM board of Hong Kong Stock Exchange in 2001, and completed transfer of listing to the Main Board in 2008. Being a well-established financial services group committed to delivering premier financial services and products in the Great China region, the Group's services include (i) provision of financial services comprising securities and options brokering and dealing, financing services, corporate finance and other advisory services, asset management and insurance brokerage; (ii) proprietary trading; and (iii) sale and marketing of digital assets. For more details, please visit www.vcgroup.com.hk. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Hektar REIT Recorded Significant Improvement

August 26, 2022

KUALA LUMPUR, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today announced the second quarter results ended 30 June 2022 (2Q 2022). Hektar REIT recorded revenue of RM29.37 million, an increase of 14.2% compared to the RM25.71 million recorded in the corresponding quarter of the previous year. The higher revenue is attributed to increased rental & car park income and higher hotel occupancy. Hektar REIT registered a net property income of RM13.70 million, an increase of 34.3% compared to RM10.20 million in 2Q 2021, while the realised net income was RM6.57 million, a substantial increase of 317.3% compared to the same period in the preceding year.Subang ParadeEn. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd.Earnings per unit rose significantly by 311.8% to 1.40 sen for 2Q 2022 compared with the same quarter in the previous year. Based on the financial performance for the current quarter, Hektar REIT has declared an interim income distribution of 2.70 sen per unit, amounting to RM12.72 million, to be made on 26 September 2022.Hektar REIT's performance for the six months ended 30 June 2022 (1H 2022) showed an increase in revenue by 11.4% to RM58.49 million compared with RM52.49 million registered in the corresponding period of the previous year. The net property income of RM30.33 million exhibited an increase of 24.8% compared with RM24.30 million in 1H 2021, while the realised net income grew by 151.0% to RM20.32 million compared with RM8.10 million recorded in 1H 2021.After two straight years of the Covid-19 pandemic, the retail landscape is currently going through normalization & early phases of recovery. The portfolio of malls under Hektar REIT has experienced a 58% year-on-year (y-o-y) increase in visitor footfall and a 50% higher vehicle count y-o-y. This is in tandem with the huge improvement in the tenant sales performance at our malls. Despite the improved performance, the Manager has adopted a cautious outlook for the coming quarters in light of inflationary pressure and uncertain global economic outlook that may affect domestic economic activities. As part of our business sustainability measures to ensure that our malls have stable occupancy, we will continue to monitor and review our rental strategy.En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: "As part of our sustainable business strategy, we will continue adopting prudent financial management, cost optimization initiatives, and enhancing our asset efficiencies to help cushion the impact of increasing interest rates and rising cost of inflation. Furthermore, we continue to increase our engagement with all stakeholders, including tenants, to offer them competitive rental rates to facilitate their recovery.""At the same time, for our shoppers and loyal patrons, we are continuously working on enhancing our existing facilities at our shopping malls to provide a great retail experience. For our valued unitholders, we remain committed to distributing at least 90% of Hektar REIT's realised net income for the financial year ending 31 December 2022.""Hektar REIT's Assets Under Management (AUM) comprises five established neighbourhood-focused malls and one regional shopping mall, which play a key role in serving as a community hub. Recently, Hektar REIT's Sustainability and CSR initiatives have been recognised and awarded with Company of the Year for Stakeholder & Community Engagement at the Sustainability & CSR Malaysia 2022 Awards. We are humbled to receive this award and will continue to play our role towards the betterment of our communities.""Similarly, our efforts towards Environment, Social & Governance (ESG) have been recognised and rewarded by the FTSE4Good Bursa Malaysia Index by FTSE Russell to an upgrade of 4-star rating in the latest June 2022 evaluation. These acknowledgements further affirmed our commitment to reducing our environmental footprint, enhancing our corporate governance, and increasing our responsibility towards our stakeholders."Hektar REIT: http://www.hektarreit.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Hektar REIT Sustainability & CSR Initiatives Gets Awarded

August 18, 2022

KUALA LUMPUR, Aug 18, 2022 - (ACN Newswire via SEAPRWire.com) - Hektar Real Estate Investment Trust (Hektar REIT) has been awarded "Company of the Year" under the "Stakeholder and Community Sustainability Engagement Initiatives" category of the Sustainability & CSR Malaysia Awards 2022 held today at Mandarin Oriental Hotel Kuala Lumpur.Second from Left: Secretary-General of the Ministry of Rural Development, YBhg Datuk Ramlan Harun and CEO of Hektar Asset Management Johari Shukri bin JamilJohari Shukri bin Jamil, CEO of Hektar Asset ManagementThis award follows the recent 4-star Environmental, Social and Governance (ESG) rating upgrade received by Hektar REIT as a constituent of the FTSE4Good Bursa Malaysia Index (F4GBMI) in the June 2022 evaluation by FTSE Russell.The Sustainability & CSR Malaysia Awards 2022, which was officiated by the Minister of Rural Development, YB Dato' Seri Mahdzir bin Khalid, and represented by the Secretary-General of the Ministry of Rural Development, YBhg Datuk Ramlan Harun is organised by CSR Malaysia, a publication and social initiative under the auspices of the Malaysian Welfare Society for Corporate Sustainability & Responsibility, which is the national organisation for sustainability in the country. Several nominations were received for the various categories, with awardees judged by a distinguished panel of judges drawn from the media and the Malaysian Welfare Society for Corporate Sustainability & Responsibility.Chief Executive Officer of Hektar Asset Management Sdn. Bhd. (Hektar Asset Management), En. Johari Shukri bin Jamil said, "We would like to express our utmost appreciation and thank the panel of judges for this award and recognition of our efforts and see this as an encouragement to continue improving ourselves. Hektar REIT's Asset Under Management consists of five established neighbourhood-focused malls and one regional shopping mall, which play key roles in serving the various stakeholders - i.e., the shoppers, tenants, employees and surrounding community within their respective geographical areas.During the pandemic, our shopping malls complied stringently with the Government's directives to provide a safe retail environment for all by upholding strict safety and hygiene protocols. CSR initiatives are close to our heart and we aim to continuously engage with the community by undertaking various initiatives for the underprivileged or vulnerable groups such as those affected by the pandemic as we at Hektar understand & believe that all of us owe a responsibility towards the betterment of our society.""Our recent ESG rating on the F4GBMI shows that Sustainability and CSR matters are very much grafted into our corporate culture. Our sustainability framework, which was first set up in 2017, continues to evolve in response not just to legislation but also to wider social and environmental concerns. We learned much, especially during the pandemic, on being resilient and sustainable while responding to the importance of reducing our environmental footprint and increasing our responsibility towards our stakeholders."About Hektar Real Estate Investment TrustHektar Real Estate Investment Trust (Hektar REIT) is Malaysia's first listed retail-focused REIT. The primary objectives of Hektar REIT are to provide unitholders with sustainable dividend income and to achieve a long-term capital appreciation of the REIT. Hektar REIT was listed on the Main Market of Bursa Malaysia Securities Berhad on 4 December 2006 and currently owns 2 million square feet of retail space in 4 states with assets valued at RM1.16 billion as at 31 December 2021. The REIT's strategic partner is Frasers Centrepoint Trust, part of Frasers Property Ltd, headquartered in Singapore. Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd. Hektar REIT's portfolio of commercial properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor. For more information, please visit www.HektarREIT.comFor more information or inquiries, please contact:Investor CommunicationsTel: +603 6205 5570Email: ir@HektarREIT.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

The HBAR Foundation and BCW Ventures Launch a Market Development Fund to Accelerate Growth on the Hedera Network

July 12, 2022

HONG KONG, Jul 12, 2022 - (ACN Newswire via SEAPRWire.com) - The HBAR Foundation and BCW Group today announced a collaboration focused on the rapidly expanding ecosystem at the intersection of distributed ledger technology and digital assets, with an initiative that supports the development and growth of the Hedera network. Kyle Baron, Managing Partner at BCW, and his team will lead and manage an all-encompassing Market Development Fund (MDF) to onboard prominent early-stage projects looking to build on Hedera.BCW is a global fintech-focused strategy consulting and technology firm that works alongside industry-leading partners and clients to scale digital asset infrastructure, remove friction points, and enhance customer experiences to reimagine how the world does commerce. The BCW MDF furthers the HBAR Foundation's support of the Hedera ecosystem by leveraging BCW's expertise in Web3 infrastructure and experience in building scalable digital asset products for Fortune 500 clients. In collaboration with the HBAR Foundation, BCW will continue to identify, incubate, and develop innovative DLT solutions foundational to the growth of next-generation decentralised applications on the Hedera network.The MDF is looking to fund projects focusing on (but not limited to)- Web3 Infrastructure- Decentralised Finance- NFT, Metaverse, and Gaming- InteroperabilityBCW has worked closely with Hedera on a wide range of initiatives since 2018 including hashport, the first interoperability bridge connecting Hedera with the EVM world and TOKO, the enterprise grade digital asset tokenization and issuance platform. BCW has also been a proud sponsor of the Hedera Hackathon since 2020.BCW Ventures enables developers and startups to benefit from BCW's in-house technology and consultancy experts, proprietary multi-chain interoperability and data analytics solutions, and global network of industry founders and partners. BCW grant applicants benefit from the HBAR Foundation's continued technical, marketing, and operational support in addition to other members of the BCW family, like hashport, a multi-chain interoperability solution connecting the Hedera, Polygon, and Ethereum networks that makes making dApp migration and token integration to Hedera easier than ever.To apply for an MDF grant, apply online at https://www.hbarfoundation.org/apply-form and select 'BCW' from the Grant Category dropdown.About BCW GroupBCW Group is a fintech-focused strategy consulting and technology firm with a strong footprint building products & businesses in the digital assets & distributed ledger technologies (DLT) industry. Our mission is to scale digital asset infrastructure, remove the friction points & enhance the customer experience to achieve ubiquity in the utility of digital payments, web 3.0 applications & connectivity of an on-demand digital universe. Our business lines include payments, consulting, technologies, products, research and ventures. We have built products in the areas of blockchain interoperability (hashport), data-analytics (Blockpour), tokenisation (TOKO), staking and IaaS tools (Arkhia).What makes us unique is our ability to not only re-imagine and design the next generation of digital commerce, but to build the applications of the future alongside our world-class partners & clients.Learn more about BCW Ventures at bcw.group or follow us on Twitter and on LinkedIn.- Twitter: https://twitter.com/bcw_llc- LinkedIn: https://www.linkedin.com/company/bcw-group2019About the HBAR FoundationFounded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, ESGs, gaming and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions that are required to scale. For more information, please contact:Rufus DanielThe HBAR Foundationrufus@hbar.fundSOURCE: The HBAR Foundation Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

SeaPRwire

ENNOVA Announces the Expansion of AUC Ecosystem through Mobile App ‘Tier’ and Crypto Exchange ‘LEO12’

July 5, 2022

Johannesburg, South Africa, NY, July 5, 2022 – (SEAPRWire) – ENNOVA, the fastest growing blockchain service company in South Africa, announces that they expand the ecosystem of the AUC project. African countries actively used mobile money as a measure to improve financial inclusion, and as mobile money lowered the threshold for financial use and increased access, financial inclusion in Africa doubled from 23% in 2011 to 43% in 2017. In particular, according to the results of the FinAccess 2021 survey conducted to measure the nation’s financial use and inclusiveness, Kenya’s use of financial services through official financial institutions such as banks grew rapidly from 26.7% in 2006 to 83.7%. Mobile money is nothing new. Even before the pandemic, African countries were trailblazers in the industry. Per McKinsey, “Just over half of the 282 mobile money services operating worldwide are located in Sub-Saharan Africa.” Today, it is not uncommon for more citizens to have access to mobile money than a traditional bank account. What is even more impressive is that there is still ample room for growth. Per the Wall Street Journal, only 45% of the African population has an active cell phone. To put this into perspective, in Europe, that figure hovers well above 80%. How these figures will be affected by the pandemic is anyone’s guess. In this situation, mobile money can effectively influence financial inclusion improvement beyond supply and demand limits. Mobile money has the advantage of being able to easily provide financial services to mobile phone users without installing a special financial infrastructure. In addition, as in the credit scoring system, credit is measured based on users’ mobile phone usage history, and services such as microloans can be provided to people with irregular income, low income, or low credit without a job. In particular, the ease of small transactions compared to banks can be effective in financial inclusion of the socially disadvantaged groups. Tier is a simple, easy, and fast payment and remittance app developed by Ennova that is a financial platform and service provider based in South Africa. The core platform of AUC project, which is conducted by Ennvoa, Tier, a mobile wallet, to register credit cards of various banks in the wallet to provide a service that allows you to conveniently purchase goods in general stores. In addition, pre-paid IC cards issued by Ennova can be registered, and if customers use them, they can purchase goods at a very low cost or receive various rewards through services provided by Ennova. Michael Kwon, co-Founder and managing director of Ennova, said, “We are a fintech and blockchain solution company that has been steadily conducting research and development for the past 3 years to provide more convenient online/offline payment services to African users.” he also added that “In the fast-growing simple payment market after the Covid-19 crisis, the Tier App will provide users with a more convenient digital payment environment and enable digital asset payment, providing high discount rates, low fees, and high security.” Furthermore, he said that “Currently, the entry of large companies such as PayPal into the digital asset payment market will attract more attention to the digital asset itself and increase demand, and if Tier App’s unique strengths are well utilized, it will definitely be able to erode demands from African markets.” Lastly, “We also introduce digital assets to Africa through the Leo12 exchange and provide a secure trading environment. It will provide support to blockchain startups in African continent through the LEO12’s Jump Deck program. With this ecosystem, we spread the advantages of digital finance to Africa and pursue sustainable development that grows together.” Currently, ‘Tier’ and ‘LEO12’ are already operating in South Africa and neighboring countries. Tier app and the LEO12 exchange are organically linked, and all users participating in the AUC ecosystem can use the AUC project’s digital assets, AUC tokens, and en-Cash points, to easily use cross-border payments and remittance services through the Tier app and the LEO12 exchange without using multiple solutions. Know more about LEO12 Crypto exchange, please visit www.leo12.com. About AUC Project The AUC is a project that starts with the financially underprivileged people in African continent and combines blockchain technology and digital asset into the global payment and remittance markets to provide relative solutions to users. AUC project’s ecosystem consists of digital financial platform, digital asset, and crypto exchange. AUC token issued on erc-20 based and used within the network of AUC projects such as transactions, remittances, and value exchanges between countries. As various applications are served on AUC tokens and as users increase, the demand for AUC tokens will increase and create higher value. Tier, digital financial platform, is a total payment and remittance platform made simple for everyone to enjoy all kinds of financial services in just one app. LEO12 is a digital asset exchange supporting 3 markets (ZAR/BTC/USDT) and 11 trading pairs and can buy/sell coins such as BTC, ETH, XRP, LTC and many more. LEO12 is now operating in South Africa and is scheduled to launch LEO12’s first branch in Ghana next year. For more information and updates about the project, please follow our website. We also periodically provide information on social media: Social Links Website: http://aucunited.com Telegram: https://t.me/aucproject Twitter: https://twitter.com/AUC_Project Medium: https://medium.com/@advancedunitedcont Facebook: https://www.facebook.com/AUC-advancedunitedcont-107106651420730 Media Contact Patrick Yu / Marketing Director support@ennovaglobal.com SOUCE: Ennova The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)

ACN Newswire

Perseverance Asset Management: long bias and fundamental bottom-up strategy

June 28, 2022

HONG KONG, Jun 28, 2022 - (ACN Newswire via SEAPRWire.com) - China's hedge fund market has been building and has seen a 70% increase in total assets over the past two years to over 6 trillion RMB (US$944 billion) at the end of 2021. Equity hedge fund manager Perseverance Asset Management is taking advantage of this surge by funneling international institutional capital into China's securities market. Perseverance's achievement has been recognised by Asia Asset Management (AAM) in its Best of the Best 2022 award for Best Domestic Private Fund Manager (China). The company's Chief Investment Officer Deng Xiaofeng was awarded the title of CIO of the Year for China. According to Daisy Liang, head of global business development at Perseverance, global asset owners have been increasingly committed to hedge fund assets invested in China over the past five years, due mainly to the market's robust fundamentals. "Foreign investors have a firm belief that there are a group of high-quality Chinese companies with innovative, hard-working entrepreneurs," Liang says in an interview with AAM. Moreover, China's Securities Regulatory Commission has been taking steps to ease restrictions on margin trading and short selling on more stocks in recent years as part of its efforts to propel the domestic capital market. Also, regulatory loosening has provided overseas investors with more comfort despite China's capital market having been through some "eventful" years, facing issues such as stock market volatility, US-China trade disputes, and the coronavirus pandemic. Long-bias strategies Despite the regulatory easing on short selling, Liang observes that overseas institutional investors are still generally more long-oriented in going about investing in Chinese equity assets, seeking to capture both market beta and alpha. Perseverance primarily offers long-bias and long-only equity hedge fund solutions with a fundamental research-driven bottom-up approach. Liang says the company's solutions align with its core allocation in global asset owners' global equity portfolios, in some cases alternative portfolios. The asset owners generally take various factors, including the sustainability of investment performance, alpha generation capability, investment philosophy, the portfolio managers' incentive alignment, and research team structure and process into account over the course of selecting hedge fund managers who invest in China. Investment managers need to tick the boxes both in terms of investment due diligence and operational due diligence to be selected by large global institutional investors, Liang mentioned. Perseverance's global business has developed rapidly, with some prominent international institutional investors such as pension funds and sovereign wealth funds have become its customers, boosted by investors' preference for long-oriented and fundamental equity strategies and highly selective criteria and rigorous due diligence process on managers' investment and operational capabilities. "Long-only strategies are among the mainstream choices for overseas investors," Liang says. "They prefer to go for fundamental strategic investment styles as the approaches are similar to how they invest in global markets." Importantly, the company's funds are overseen by a mix of portfolio managers with different investment styles, among them deep value, contrarian, and growth-oriented. Liang notes this multi-manager model meets different demands from different clients. In terms of strategy preference, generally speaking, sovereign wealth funds and pension funds favour long-only strategies, while family offices and endowment funds generally prefer long-bias investment choices. On investment trends, Liang says some institutional clients have rebalanced their allocation to top-up investment in China since the market sell-off in July 2021. The market adjustment prompted them to replenish their position as the value of their China allocation dropped below the targeted level. Overall, investors are committed to the long-term and rarely adjust their core portfolio allocation, she says.(Source: Asia Asset Management) Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Hektar REIT’s ESG Commitment Gets Rewarded with a 4-Star Rating

June 27, 2022

KUALA LUMPUR, Jun 27, 2022 - (ACN Newswire via SEAPRWire.com) - Hektar Real Estate Investment Trust (Hektar REIT) has achieved an upgraded Environmental, Social and Governance (ESG) rating of 4-star on the FTSE4Good Bursa Malaysia Index (F4GBMI) in the latest June 2022 evaluation.Chief Executive Officer of Hektar Asset Management Sdn. Bhd. Johari Shukri bin JamilChief Executive Officer of Hektar Asset Management Sdn. Bhd., En. Johari Shukri bin Jamil said, "We are humbled to have our ESG initiatives recognised and rewarded with such a high rating as this is a great acknowledgement of our commitment to ensuring that our business activities are performed to high standards of environmental, social and governance conduct. We are convinced that the continued integration of sustainability into our strategy will support the ongoing & future success of Hektar REIT - in the interest of all stakeholders.""We embarked on these ESG initiatives in 2017 when we put in place various energy optimisation initiatives for all our malls which have significantly reduced our carbon footprint over the years. We will continue to enhance our efforts in managing material sustainability matters, including climate change adaptation, pollution prevention, water and waste management, and managing energy consumption, including incorporating renewable energy in our energy mix moving forward.""I would also like to emphasise that we will continue to improve our ESG credentials, not just because regulations are becoming more enhanced on these matters but also because it will translate into long term business value and, most importantly, it is the responsible thing to do."Hektar Asset Management, the Manager of Hektar REIT, remains committed to continuously looking at and adopting sustainability-linked initiatives as part of the core strategy & decision-making process. Recently, Hektar REIT also joined the Public Listed Companies (PLC) Transformation Programme launched by Bursa Malaysia to further enhance the fundamental tenets, from being performance-driven to helping build & contribute towards the nation.Based on the latest results by F4GBMI in their June 2022 evaluation, Hektar REIT achieved a high score in Governance, reflecting the adoption of best practices for Corporate Governance & Anti-Corruption. To further strengthen & improve our overall Governance, the Management is currently working on establishing the Directors' Fit & Proper Policy based on the guidelines issued by Bursa Malaysia. The policy will be made available on the REIT's website from 1 July 2022 onwards.Hektar REIT: http://www.hektarreit.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)