Issuance of Shares and Unlisted Warrants to GCL Technology Chairman Zhu Gongshan was Formally Approved at HG Semiconductor’s Extraordinary General Meeting ACN Newswire

Issuance of Shares and Unlisted Warrants to GCL Technology Chairman Zhu Gongshan was Formally Approved at HG Semiconductor’s Extraordinary General Meeting

December 14, 2022
HONG KONG, Dec 13, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908. HK) announced that the resolution of the extraordinary general meeting was duly passed in relation to the investment agreement dated on 4 August 2022 (the "Investment Agreement"), which the Group entered into with Mr. Zhu Gongshan ("Mr. Zhu"), the Founder, Chairman and Executive Director of GCL Technology Holdings Limited (Stock code: 3800.HK; "GCL"), signifying that Mr. Zhu has officially become a major shareholder of the Group. Pursuant to the Investment Agreement, the Group has agreed to allot and issue, and Mr. Zhu has agreed to subscribe for 60 million subscription shares ("Shares Subscription") and 60 million warrants ("Warrants Subscription"). In view that the due diligence examinations have been completed, and that Mr. Zhu is reasonably satisfied with the results of the examinations, he will participate in the Shares Subscription and Warrants Subscription through his designated beneficially owned entity Profit Act Limited. The subscription shares and warrant shares shall be subject to a lock-up period of 18 months commencing on the date of issuance during which cannot be sold or transferred.The subscription is a testament to Mr. Zhu's confidence in the prospects of HG Semiconductor. In addition to becoming a major strategic shareholder of the Group, HG Semiconductor entered into a strategic cooperation framework agreement earlier on 7 September 2022 with Golden Concord Group Limited ("Golden Concord Group"), a company ultimately held under a discretionary trust with Mr. Zhu and his family members as beneficiaries, to commence a long-term strategic cooperation focusing on the application of third generation gallium nitride ("GaN") power chips in the field of new energy. Leveraging its leading position in the new energy industry with comprehensive strategic layout, Golden Concord Group will assist HG Semiconductor to tap into the market of new energy supply chain, helping the Group develop its upstream and downstream businesses as well as becoming its close business partner.The global chip business has been developing rapidly and the changing technology specifications and demand of different markets are the key factors for the Group to source suitable raw materials from different suppliers to cater for the Group's production needs of GaN chips. With the rich resources and leading technology accumulated by Mr. Zhu and Golden Concord Group in the field of new energy over the years, it is believed that the silicon wafers supplied to the Group are of high quality given the crystal lattice of the entire solid of the silicon wafers is continuous, unbroken to its edges, and free of any grain boundaries. The supply of silicon wafers from Golden Concord Group will boost the Group's confidence and ensure the stability and quality of its GaN business development. On the other hand, the third-generation semiconductors such as GaN and other broadband semiconductors are expected to be excellent materials for the energy conversion chain, as they can effectively reduce energy losses and improve energy conversion rates. The Group would supply the manufactured GaN chips to Golden Concord Group from its newly developed Xuzhou Factory with advanced technology, which are the fundamental components used in Golden Concord Group's business in energy engineering, solar inverter and energy storage technology. Golden Concord Group, with its high-quality silicon wafers, may become one of the suppliers to the Group, while it will also become a potential customer of the Group's GaN chips, meaning that both parties would complement each other.As the digital economy accelerates, the semiconductor industry has gradually become a significant impetus for the global economy and socioeconomic development. The report of the 20th National Congress of the Communist Party of China (CPC) also clearly pointed out that it is necessary to uphold the country's self-reliance and self-improvement in science and technology, opening up new areas and new arenas in development and accelerate China's scientific and technological strength, and steadily fostering new growth drivers and new strengths. At the same time, in order to actively respond to the national policy guidelines, the Hong Kong government has recently established the Microelectronics Technology Consortium and is studying chip technology, promoting more high value-added and high technology manufacturing processes and production lines in Hong Kong; the third-generation semiconductors will therefore play a vital role in the development of technology and economic diversification.To actively expand its third-generation semiconductor GaN business, HG Semiconductor has established a new factory earlier, with an area of over 7,000 square metres in Xuzhou ("Xuzhou Factory"), and has recently started manufacturing its own 6-inch GaN power device epitaxial wafers, representing a breakthrough and the first stage of the Group's GaN chip business. The Group expects that full production of GaN chips will commence by early 2024. In addition, the Group's research and development team will promote the GaN chips by implementing the GaN chips in the circuitry designed for different applications, to raise the customers' loyalty, while at the same time, relevant GaN devices will also be launched to increase sales.The management of HG Semiconductor is honored to introduce Mr. Zhu Gongshan as a major strategic shareholder of the Group. After nearly two years of business transformation, the Group has established its outstanding strengths in GaN power semiconductors and new energy industry. The Share Subscription and the Warrant Subscription represent a good opportunity for the Group to raise additional capital for its GaN business development, thereby accelerating its business development. Meanwhile, leveraging Mr. Zhu's background as a major strategic shareholder of the Group, HG Semiconductor is expected to further accelerate the research and development ("R&D") of GaN technology and application in the new energy field, and stride towards the goal of becoming an integrated device manufacturing ("IDM") enterprise with semiconductor design and manufacturing as the core, as well as the integration of R&D, manufacturing, testing, and sales. HG Semiconductor will continue to pursue its established business strategies to capture market opportunities, enhance stakeholder value and achieve long-term sustainable growth, with the aim of providing the best returns to shareholders.About HG Semiconductor LimitedHG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads and a new generation of semiconductor gallium nitride ("GaN"). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.For more details, please visit www.hg-semiconductor.com Copyright 2022 ACN Newswire. 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The best of the best real estate developers, projects prevail at 17th PropertyGuru Asia Property Awards Grand Final ACN Newswire

The best of the best real estate developers, projects prevail at 17th PropertyGuru Asia Property Awards Grand Final

December 10, 2022
BANGKOK, THAILAND, Dec 10, 2022 - (ACN Newswire via SEAPRWire.com) - PropertyGuru Group (NYSE: PGRU), Southeast Asia's leading property technology company, today announced the regional winners representing the Best in Asia at the 17th Annual PropertyGuru Asia Property Awards Grand Final, presented by Kohler and supported by Leading Real Estate Companies of the World.-- New World Development Company Limited is hailed Best Developer (Asia) in one of two regional wins for companies from China (Hong Kong and Macau)-- Companies from Thailand and the Philippines each garner seven regional wins -- Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, receives the PropertyGuru Icon awardAlso known as the finale of the 2022 PropertyGuru Asia Property Awards series, the Grand Final was presented in 48 categories at The Athenee Hotel, a Luxury Collection Hotel, Bangkok. New World Development Company Limited garnered the award of Best Developer (Asia), representing China (Hong Kong and Macau). Along with the design practice Lead8, the company also received the Best Mega Mixed Use Development (Asia) award for 11 SKIES.Representing Mainland China, Lead8 additionally won the Best Retail Architectural Design (Asia) award for Shougang Park Urban Weaving District. Benoy Limited won Best Mixed Use Architectural Design (Asia) for CRL MixC Qianhai in another regional win for Mainland China. The Philippines garnered seven regional wins, led by the Best Industrial Developer (Asia) title for Aboitiz InfraCapital Economic Estates and Best Lifestyle Developer (Asia) title for Global-Estate Resorts, Inc. (GERI). Aboitiz InfraCapital Economic Estates also won the honours of Best Industrial Development (Asia) and Best Green Development (Asia) for LIMA Estate. AppleOne Mactan, Inc. also won Best Branded Residential Development (Asia) for The Residences at Sheraton Cebu Mactan Resort while Cebu Landmasters, Inc. won Best Hospitality Architectural Design (Asia) for Sofitel Cebu City. Arquitectonica was honoured with the Best Office Architectural Design (Asia) award for Mega Tower. Thailand also gained seven regional wins, including the Best Landmark Mixed Use Development (Asia) award for One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT). Magnolia Quality Development Corporation Limited won both the Best Condo Development (Asia) and Best Health and Wellness Development (Asia) awards for The Aspen Tree at The Forestias. PMT Property Co., Ltd. earned the titles of Best Condo Interior Design (Asia) and Best Condo Landscape Architectural Design (Asia) for 125 Sathorn. Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL was named Best Waterfront Housing/Landed Development (Asia) while Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. won Best Housing/Landed Landscape Architectural Design (Asia). Singapore scored six regional wins at the Grand Final. GuocoLand was named Best Luxury Developer (Asia) and Best Sustainable Developer (Asia) while UOL Group Limited was named Best Hospitality Developer (Asia). UOL Group Limited also won Best Hotel Development (Asia) for Pan Pacific Orchard. Park Nova by Shun Tak Holdings gained the Best Condo Architectural Design (Asia) title while Artyzen Singapore by Artyzen Hospitality Group won Best Hospitality Interior Design (Asia). Indonesia was also represented with six regional wins that include the Best Township Development (Asia) award for Kota Baru Parahyangan by PT. Belaputera Intiland and Best Township Masterplan Design (Asia) award for PIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group. Autograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group, won Best Office Development (Asia) while LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. won Best Connectivity Condo Development (Asia). Metland Cibitung by PT Fajarputera Dinasti, a subsidiary of PT Metropolitan Land Tbk., won Best Connectivity Housing/Landed Development (Asia) while LOGOS Cikarang Logistics Park by LOGOS Indonesia was named Best Green Industrial Development (Asia).Australia scored five regional wins, including the Best Boutique Developer (Asia) title for Spacious Group. SPG Land won both the Best Smart Building Development (Asia) and Best Integrated Work From Home Development (Asia) titles for Paradiso Place. Dare Property Group won Best Eco Friendly Commercial Development (Asia) for Zero Gipps and Mayrin Group won Best Housing/Landed Architectural Design (Asia) for The Archwood Residences.Vietnam scored four regional wins, including the Best Mixed Use Developer (Asia) title for Keppel Land. Sycamore by CapitaLand Development (Vietnam) won the Best Housing/Landed Development (Asia) and Best Eco Friendly Housing/Landed Development (Asia) awards. Artisan Park by Gamuda Land was named Best Retail Development (Asia). From Greater Niseko, Andaru Collection Niseko by Blue Waves Group clinched both Best Completed Housing/Landed Development (Asia) and Best Housing/Landed Interior Design (Asia) awards. HakuVillas by H2 Group won the Best Completed Condo Development (Asia) award. Cambodia and Malaysia each earned two regional wins. The Best Breakthrough Developer (Asia) award went to Kambujaya Development Co., Ltd, with the Best Waterfront Condo Development (Asia) title going to Vue Aston by The Peninsula Capital Co., Ltd. KL Wellness City by KL Wellness City Sdn Bhd was named Best Mixed Use Development (Asia), with Infinity8 Reserve JBCC by Infinity Group winning Best Co-Working Space (Asia). India was also represented at the Grand Final with Embassy REIT winning Best Commercial Landscape Architectural Design (Asia) for Embassy TechVillage - Central Garden. Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, received the PropertyGuru Icon Award. Ciputra, previously named the Indonesia Real Estate Personality of the Year in 2015, received the award for a lifetime of real estate achievements covering developments in more than 40 cities across the archipelago. The regional winners at the Grand Final were selected from the elite pool of country winners from PropertyGuru Asia Property Awards' series of celebrations this year in Singapore, Malaysia, Indonesia, Thailand, Vietnam, Cambodia, the Philippines, Mainland China, Hong Kong, Macau, Greater Niseko (Japan), India, and Australia.Hari V Krishnan, CEO and managing director of PropertyGuru Group, said: "The Awards remain among our widest-reaching enterprise solutions, having expanded over the years to represent some of the world's most dynamic property markets from Southeast Asia to Australia. With these award-winning developers and designers as benchmarks, we hope to guide property seekers towards finding, financing and owning the right properties. In this, the 17th edition of the PropertyGuru Asia Property Awards Grand Final, we elevate not only the region's dream homes but also its finest, most sustainable live-work-play developments, workspaces, retail hubs, hotels, resorts, and industrial parks, among others, to an international platform. Whether you're seeking, selling or building property, we will see you home."Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: "The winners of the PropertyGuru Asia Property Awards Grand Final aptly represent the diversity, progress, and resilience of their respective property markets. With projects ranging from boutique residential developments to vast integrated districts, these award-winning developments offer an impressive snapshot of what the Best in Asia looks like. Whether celebrated onstage at our gala events, or presented to the world online, these awardees shine bright as the Gold Standard of Asian real estate, keeping true to our vision of building the region's Property Trust Platform. To all the winners announced at our regional Grand Final - we celebrate your success. Congratulations."The latest edition of the Grand Final marked the full return of the black-tie gala dinner and awards presentation, following a successful virtual gala edition in 2021. The 2022 Grand Final was streamed live on AsiaPropertyAwards.com as well as the programme's official Facebook and YouTube channels. The list of winners at the Grand Final was selected by an independent jury consisting of head judges of participating markets in the Awards: Thien Duong, chairperson of the Grand Final and general director, Group GSA (Vietnam); Amit Khanna, managing director, Phoenix Advisers (India); Bill Barnett, founder and managing director, C9 Hotelworks (Greater Niseko); Cyndy Tan Jarabata, president of TAJARA Leisure & Hospitality Group Inc. (Philippines); Dato' Sr. Lau Wai Seang, president, Royal Institution of Surveyors Malaysia (RISM): 2017-2018 (Malaysia); Kristin Thorsteins, head of partnership growth for APAC at IWG PLC (Singapore); Lui Violanti, regional manager for Western Australia, Inhabit Group (Australia); Paul Tse, president, board of directors, Macao Association of Building Contractors and Developers (Mainland China, Hong Kong and Macau); Sorn Seap, executive vice president, Cambodian Valuers and Estate Agents Association (Cambodia); Suphin Mechuchep, chairperson, JLL Thailand (Thailand); and Vivin Harsanto, senior director and head of advisory, JLL Indonesia (Indonesia).HLB, the leading international accounting and advisory firm, upheld fairness, transparency and credibility throughout all points of the selection process, under the leadership of Paul Ashburn, HLB International Real Estate Group.Since it was established in Thailand in 2005, the PropertyGuru Asia Property Awards programme has expanded over the years to 18 property markets. Through its series of in-person and virtual gala celebrations, the PropertyGuru Asia Property Awards programme has provided an international platform for excellent real estate developers, architects, and interior designers across Asia Pacific. The programme therefore connects awardees to a wide pool of investors, consumers, and agents, as well as the diaspora, throughout the region and beyond. Organised by PropertyGuru Group (NYSE: PGRU), the 17th PropertyGuru Asia Property Awards Grand Final is supported by platinum sponsor Kohler; gold sponsor Leading Real Estate Companies of the World; official portal partner PropertyGuru; official channel partner History; official magazine Property Report by PropertyGuru; official PR partner Artemis Associates; media partners BusinessWorld, Construction & Property, d+a Magazine, Daily FT, Deluxe Magazine, Discover Pattaya, Esquire PH, Hot Magazine, Housing.com, Kompas, Kopiandpropetry.com, Luxuo, Manila Bulletin, Mingtiandi, Palace, Pattaya Trader, Penang Property Talk, People Asia Magazine, PhilStar PropertyReport PH, Powderlife, Real Estate News PH, Real Living, Rem, Robb Report, Southeast Asia Globe, Suara Indonesia, The Grid, The Hindu, The Manila Times, Think of Living, Top 10 of Malaysia, Vietnam Heritage, WhenInManila.com, Yacht Style, and Your Investment Property; official ESG partner Baan Dek Foundation; official charity partner Liter of Light; supporting partners IFC - Building Resilience Index, IFC - Excellence in Design for Greater Efficiencies, and REHDA Institute; supporting associations EuroCham Cambodia, Global Design Awards Lab, Green Building Consulting & Engineering, Niseko Tourism, Singapore Estate Agents Association, and Singapore Green Building Council; and official supervisor HLB. For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.LIST OF REGIONAL AND COUNTRY WINNERS 17th PropertyGuru Asia Property Awards Grand FinalDEVELOPER AWARDSBest Developer (Asia)Agung Sedayu Group - IndonesiaAuriton Group - AustraliaNew World Development Company Limited - China - Hong Kong and Macau (REGIONAL WINNER)Prince Real Estate Group - CambodiaRobinsons Land - PhilippinesUOL Group Limited - SingaporeBest Luxury Developer (Asia)GuocoLand - Singapore (REGIONAL WINNER)SonKim Land Corporation - Vietnam Best Industrial Developer (Asia)Aboitiz InfraCapital Economic Estates - Philippines (REGIONAL WINNER)PT LOGOS SEA Indonesia - IndonesiaBest Mixed Use Developer (Asia)GuocoLand - SingaporeKeppel Land - Vietnam (REGIONAL WINNER)Megaworld Corporation - PhilippinesPrince Real Estate Group - CambodiaBest Hospitality Developer (Asia)Megaworld Corporation - PhilippinesUOL Group Limited - Singapore (REGIONAL WINNER)Best Lifestyle Developer (Asia)Aurum Land (Private) Limited - SingaporeCasagrand Builder Pvt. Ltd. - IndiaGlobal-Estate Resorts,Inc. (GERI) - Philippines (REGIONAL WINNER)Best Sustainable Developer (Asia)GuocoLand - Singapore (REGIONAL WINNER)PT. Bumi Serpong Damai - IndonesiaPT LOGOS SEA Indonesia - IndonesiaBest Boutique Developer (Asia)Aurum Land (Private) Limited - SingaporePT. Bumi Parama Wisesa (NavaPark) Hongkong Land & Sinar Mas Land Joint Venture - IndonesiaSpacious Group - Australia (REGIONAL WINNER)Best Breakthrough Developer (Asia)Kambujaya Development Co., Ltd - Cambodia (REGIONAL WINNER)DEVELOPMENT AWARDSBest Township Development (Asia)Bridgetowne Destination Estate by Robinsons Land - PhilippinesCorrectio by PT. Jababeka Tbk - IndonesiaKota Baru Parahyangan by PT. Belaputera Intiland - Indonesia (REGIONAL WINNER)Meyhomes Capital Phu Quoc by Tan A Dai Thanh - Meyland - VietnamBest Mega Mixed Use Development (Asia)11 SKIES by Lead8 & New World Development Company Limited - China - Hong Kong and Macau (REGIONAL WINNER)Best Landmark Mixed Use Development (Asia)One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) - Thailand (REGIONAL WINNER)Best Mixed Use Development (Asia)Baker Circle by Henderson Land Development Company Limited - China - Hong Kong and MacauBalfour Place by Thirdi Group - AustraliaEmbassy Manyata Front Parcel Development by Embassy REIT - IndiaHeartland 66 by Hang Lung Properties - Mainland ChinaKL Wellness City by KL Wellness City Sdn Bhd - Malaysia (REGIONAL WINNER)Melbourne Square by OSK Property - AustraliaPrince International Plaza by Prince Real Estate Group - CambodiaThamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group - IndonesiaBest Industrial Development (Asia)FoodFab @ Mandai by Mandai 7 JV Pte Ltd - SingaporeGIIC @ Kota Deltamas by Sinar Mas Land & Sojitz Corporation - IndonesiaLIMA Estate by Aboitiz InfraCapital Economic Estates - Philippines (REGIONAL WINNER)Best Hotel Development (Asia)Pan Pacific Orchard by UOL Group Limited - Singapore (REGIONAL WINNER)Park Hyatt Niseko Hanazono and Hanazono Resort Niseko by Nihon Harmony Resorts KK and PCPD - Greater NisekoBest Retail Development (Asia)Artisan Park by Gamuda Land - Vietnam (REGIONAL WINNER)Batavia PIK by Agung Sedayu Group & Salim Group, curated by Amantara - IndonesiaBest Office Development (Asia)888 Lai Chi Kok Road (NCB Innovation Centre) by New World Development Company Limited - China - Hong Kong and MacauAutograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group - Indonesia (REGIONAL WINNER)Cloud Land, Hangzhou by Greentown China Holdings Limited - Mainland ChinaFrasers Tower by Frasers Property Singapore - SingaporeHudson & Ganges Office Towers, Embassy TechZone by Embassy REIT - IndiaKnowledge Hub @Digital Hub by Sinar Mas Land - IndonesiaOne Bangkok Office Tower 4 by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) - ThailandBest Branded Residential Development (Asia)The Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. - Philippines (REGIONAL WINNER)Best Condo Development (Asia)Forbes Residences, Applecross by Mustera Property Group Ltd - AustraliaHinode Hills by Niseko Village - Greater NisekoKincang Egrets Waves 3.0 Residential by LYCS Architecture - Mainland ChinaLe Parc at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group - IndonesiaMeyer Mansion by GuocoLand - SingaporeOne Innovale by Henderson Land Development Company Limited - China - Hong Kong and MacauParc3 by Eupe Corporation Berhad - MalaysiaPiramal Aranya by Piramal Realty - IndiaThe Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited - Thailand (REGIONAL WINNER)The Seasons Residences by Sunshine Fort North Bonifacio Realty Development Corporation - PhilippinesVue Aston by The Peninsula Capital Co., Ltd. - CambodiaBest Waterfront Condo Development (Asia)Costa Mira Beachtown Mactan by Cebu Landmasters, Inc. - PhilippinesLee Nam Road 66 by Logan Group Company Limited & KWG Group Holdings - China - Hong Kong and MacauMeyer Mansion by GuocoLand - SingaporeParadiso Place by SPG Land - AustraliaSunteck Beach Residences (SBR) by Sunteck Realty Limited - IndiaVue Aston by The Peninsula Capital Co., Ltd. - Cambodia (REGIONAL WINNER)Best Connectivity Condo Development (Asia)LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. - Indonesia (REGIONAL WINNER)Best Completed Condo Development (Asia)HakuVillas by H2 Group - Greater Niseko (REGIONAL WINNER)Best Health and Wellness Development (Asia)Forbes Estates Lipa by Robinsons Land - PhilippinesMark Moran Warrawee by Mark Moran Group - AustraliaThe Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited - Thailand (REGIONAL WINNER)Best Smart Building Development (Asia)Paradiso Place by SPG Land - Australia (REGIONAL WINNER)Best Housing/Landed Development (Asia)Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group) - SingaporeEnchante Residence @BSD City by Sinar Mas Land - IndonesiaGuangzhou Nansha Amber Living by Zhuhai Huafa Properties Co., Ltd. - Mainland ChinaSycamore by CapitaLand Development (Vietnam) - Vietnam (REGIONAL WINNER)The Archwood Residences by Mayrin Group - AustraliaBest Waterfront Housing/Landed Development (Asia)Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL - Thailand (REGIONAL WINNER)The Residences III at The Glades, Putra Heights by Sime Darby Property - MalaysiaBest Connectivity Housing/Landed Development (Asia)Metland Cibitung by PT Fajarputera Dinasti a subsidiary of PT Metropolitan Land Tbk. - Indonesia (REGIONAL WINNER)Best Completed Housing/Landed Development (Asia)Andaru Collection Niseko by Blue Waves Group - Greater Niseko (REGIONAL WINNER)Best Integrated Work From Home Development (Asia)Paradiso Place by SPG Land - Australia (REGIONAL WINNER)Pisonia Ville by UDA Holdings Berhad - MalaysiaBest Green Development (Asia)LIMA Estate by Aboitiz InfraCapital Economic Estates - Philippines (REGIONAL WINNER)Best Green Industrial Development (Asia)LOGOS Cikarang Logistics Park by LOGOS Indonesia - Indonesia (REGIONAL WINNER)Best Eco Friendly Housing/Landed Development (Asia)Sycamore by CapitaLand Development (Vietnam) - Vietnam (REGIONAL WINNER)Best Eco Friendly Commercial Development (Asia)Site of the Future - Acienda Silang by Pilipinas Shell Petroleum Corporation - PhilippinesZero Gipps by Dare Property Group - Australia (REGIONAL WINNER)DESIGN AWARDSBest Township Masterplan Design (Asia)Bridgetowne Destination Estate by Robinsons Land - PhilippinesPIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group - Indonesia (REGIONAL WINNER)Best Mixed Use Architectural Design (Asia)11 SKIES by Lead8 - China - Hong Kong and MacauCRL MixC Qianhai by Benoy Limited - Mainland China (REGIONAL WINNER)Yoho Treasure Island Resorts World Hotel, Macau by Huarchi Global Design Corporation Ltd & Treasure Island Entertainment Company Ltd - China - Hong Kong and MacauBest Condo Architectural Design (Asia)AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company - SingaporeMeyer Mansion by GuocoLand - SingaporeOne East @ Damansara by CK East Group - MalaysiaParadiso Place by SPG Land - AustraliaPark Nova by Shun Tak Holdings - Singapore (REGIONAL WINNER)Railway Leisure Town by HZS Design (Shanghai) Ltd. - Mainland ChinaReference Sathorn - Wongwianyai by SC Asset - ThailandThe Commodore by JBE Holdings Pte Ltd - SingaporeThe East Village at DGT by Cebu Landmasters, Inc. - PhilippinesWaterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. - ThailandBest Housing/Landed Architectural Design (Asia)Andaru Collection Niseko by Blue Waves Group - Greater NisekoLake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL - ThailandMazenta Residence by PT Cipta Harmoni Lestari - IndonesiaSeri Austin Heights by Aksi Sepakat Sdn Bhd - MalaysiaThe Archwood Residences by Mayrin Group - Australia (REGIONAL WINNER)The Valley by Botanica Luxury Villas - ThailandVenue ID Motorway Rama 9 by SC Asset - ThailandBest Hospitality Architectural Design (Asia)Artyzen Singapore by Artyzen Hospitality Group - SingaporeShiguchi by Kookan - Greater NisekoSofitel Cebu City by Cebu Landmasters, Inc. - Philippines (REGIONAL WINNER)Best Retail Architectural Design (Asia)Pantjoran PIK by Agung Sedayu Group & Salim Group, curated by Amantara - IndonesiaShougang Park Urban Weaving District by Lead8 - Mainland China (REGIONAL WINNER)Best Office Architectural Design (Asia)Embassy Oxygen, Tower-1 by Embassy REIT - IndiaMega Tower by Arquitectonica - Philippines (REGIONAL WINNER)One Bedford Place by Lofter Group Limited - China - Hong Kong and MacauBest Condo Interior Design (Asia)125 Sathorn by PMT Property Co., Ltd. - Thailand (REGIONAL WINNER)Liv @ MB by Bukit Sembawang Estates Limited - SingaporeOrchard Sophia by Orchard Sophia Pte Ltd - SingaporeParadiso Place by SPG Land - AustraliaPerfect Ten by Property Enterprises Development (Singapore) Pte Ltd - SingaporeThe Commodore by JBE Holdings Pte Ltd - SingaporeThe Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. - PhilippinesBest Housing/Landed Interior Design (Asia)Andaru Collection Niseko by Blue Waves Group - Greater Niseko (REGIONAL WINNER)Kambujaya Residences by Kambujaya Development Co., Ltd - CambodiaMazenta Residence by PT Cipta Harmoni Lestari - IndonesiaThe Archwood Residences by Mayrin Group - AustraliaBest Hospitality Interior Design (Asia)Artyzen Singapore by Artyzen Hospitality Group - Singapore (REGIONAL WINNER)Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. - Philippines Shiguchi by Kookan - Greater NisekoBest Condo Landscape Architectural Design (Asia)125 Sathorn by PMT Property Co., Ltd. - Thailand (REGIONAL WINNER)AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company - SingaporePark Nova by Shun Tak Holdings - SingaporeWaterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. - ThailandBest Housing/Landed Landscape Architectural Design (Asia)Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. - Thailand (REGIONAL WINNER)Meysenses Lucia Bay Bai Lu by Tan A Dai Thanh - Meyland - VietnamBest Commercial Landscape Architectural Design (Asia)Embassy TechVillage - Central Garden by Embassy REIT - India (REGIONAL WINNER)Best Co-Working Space (Asia)Infinity8 Reserve JBCC by Infinity Group - Malaysia (REGIONAL WINNER)work.able Exxa-Zeta Center by Robinsons Land - PhilippinesPUBLISHER'S CHOICEPropertyGuru Icon AwardWINNER: Candra CiputraCEO, Ciputra GroupPresident Director, PT Ciputra Development TbkNOTE: Use of the PropertyGuru Asia Property Awards logo is limited to the publication of this article only.PROPERTYGURU CONTACTS:General Enquiries:Richard Allan AquinoHead of Brand & Marketing ServicesM: +66 92 954 4154E: allan@propertyguru.com Sponsorships:Kanittha SrithongsukRegional Manager, Awards SponsorshipM: +66 93 293 9794E: kanittha@propertyguru.com Media & Partnerships:Nate DacuaMedia Relations & Marketing Services ManagerM: +66 92 701 2510E: nate@propertyguru.com Sales & Nominations:Udomluk SuwanSales DirectorM: +66 87 699 4433E: may@propertyguru.comABOUT PROPERTYGURU ASIA PROPERTY AWARDS:PropertyGuru'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 2022, the Awards series is open to more than a dozen 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 2022.For more information, please visit AsiaPropertyAwards.comABOUT PROPERTYGURU GROUP:PropertyGuru is Southeast Asia's leading1 PropTech company, and the preferred destination for over 44 million property seekers7 (https://www.propertygurugroup.com/newsroom/propertyguru-reports-third-quarter-2022-results/#news_icon) to find their dream home, every month. PropertyGuru empowers property seekers with more than 3.5 million real estate listings8 (https://www.propertygurugroup.com/newsroom/propertyguru-reports-third-quarter-2022-results/#news_icon), in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, 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 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio of leading property marketplaces across its core markets; award-winning mobile apps; mortgage marketplace, PropertyGuru Finance (https://www.propertyguru.com.sg/mortgage/home-loan); and a host of enterprise solutions now under PropertyGuru For Business (https://www.propertyguruforbusiness.com/), including a high-quality developer sales enablement platform, FastKey (https://www.propertyguruforbusiness.com/fastkey), DataSense (https://www.propertyguruforbusiness.com/datasense), ValueNet (https://www.propertyguruforbusiness.com/real-estate-valuers), Awards (https://www.asiapropertyawards.com/en/), events and publications across Asia.For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn (https://www.linkedin.com/company/propertyguru).1. Based on SimilarWeb data between April 2022 and September 2022.2. The third quarter and first nine months ended September 30, 2022 includes results of the iProperty Malaysia and thinkofliving businesses which were acquired on August 3, 2021. 3. Included in the S$13.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2022 was a S$4.9 million depreciation and amortization expense.4. Included in the S$8.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2021 were a S$3.9 million depreciation and amortization expense and a S$3.0 million net finance expense.5. Based on SimilarWeb data between April 2022 and September 2022.6. Does not include impact of Sendhelper acquisition in October 2022.7. Based on Google Analytics data between April 2022 and September 2022.8. Based on data between April 2022 and September 2022. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Yew Lee Posts RM6.1 Million Revenue in 3Q ACN Newswire

Yew Lee Posts RM6.1 Million Revenue in 3Q

November 30, 2022
KUALA LUMPUR, Nov 30, 2022 - (ACN Newswire via SEAPRWire.com) - Yew Lee Pacific Group Berhad, a manufacturer of industrial brushes as well as trading of industrial hardware and machinery parts, today announced that the Group recorded revenue of RM6.10 million for the third quarter ended 30 September 2022 (3Q FY2022).Managing Director of Yew Lee, Mr. Ang Lee LeongThere are no comparisons on a year-over-year basis as the Group was listed on the ACE Market of Bursa Malaysia Securities Berhad on 7 June 2022.For the quarter under review, Yew Lee reported gross profit of RM2.12 million while registering profit before tax (PBT) of RM0.96 million and profit after tax of RM0.76 million. For the nine-month period ended 30 September 2022 (9M 2022), the Group registered RM24.35 million in revenue while recording a profit before tax of RM0.39 million and a loss after tax of RM0.41 million.Manufacturing activities contributed RM3.84 million to total revenue while trading activities contributed RM2.27 million in 3Q FY2022.Managing Director of Yew Lee, Mr. Ang Lee Leong said, "We continue to sustain and generate profit from our operations. It is worth noting that stripping the one-off listing expenses of RM2.70 million, the Group would have reported a 9M 2022 PBT of RM3.0 million."The Group's immediate plans is to reduce its dependency on the rubber glove industry by seeking opportunities in the semiconductor, timber, glass and agriculture industries. We are encouraged by the political stability from the appointment of a new Prime Minister, and we hope that the new government will be supportive of the economy with sound policies and measures.""Besides diversifying our customer base, which will take time, the Group is also improving its manufacturing efficiency and automating manufacturing processes by acquiring additional automated machinery and equipment to support the long-term growth of the business. We are also expanding the trading of industrial hardware and machinery parts especially in the central and southern regions of Peninsular Malaysia and, expanding to more markets overseas."The Group's overseas markets include Thailand, Vietnam, Indonesia and Taiwan, which contributed about a quarter to total revenue in the financial year ended 31 December 2021.Yew Lee Pacific Group Bhd: 0248 [BURSA: YEWLEE], https://yewlee.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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GMEX Group Wins Best Development in FinTech of the Year ACN Newswire

GMEX Group Wins Best Development in FinTech of the Year

November 28, 2022
LONDON, Nov 28, 2022 - (ACN Newswire via SEAPRWire.com) - GMEX Group ('GMEX'), a leader in digital business and technology solutions for capital markets, is proud to announce that it has been awarded Best Development in FinTech of the Year by Crypto AM for its GMEX Pyctor institutional-grade digital assets technology. These coveted awards are judged by an independent, expert panel of industry leaders. GMEX competed with other finalists including Revolut to win.GMEX Pyctor ('Pyctor') was acquired earlier this year by GMEX after being successfully incubated in ING Neo's innovation lab. It has been jointly developed in collaboration with multiple blue-chip financial institutions (both asset managers and banks) and regulators. This leading fintech provides regulatory compliant digital assets network and digital custody technology, and is designed for firms operating in regulated environments. It offers highly secure digital custody and transactional network services for a broad range of digital assets, as well as delivering interoperability between permissioned and public blockchains.GMEX Group is in its tenth anniversary year. While its business started in traditional finance, developing exchange matching engines, clearing, settlement and custodial solutions, the firm was early to get involved in the digital assets space in 2017 with the subsequent launch of the GMEX Fusion, a unique centralised and distributed ledger market infrastructure suite for exchanges and post trade operators. It now has multiple solutions as part of an overall technology fabric, including its MultiHub 'network of networks' service, which interfaces with Pyctor, removing the need to integrate with multiple trading parties, trading venues and digital custodians. Sitting at that intersection, GMEX is a hybrid finance specialist, addressing the interoperability issues experienced in the market to bridge traditional and digital assets activity aligned with current and evolving regulations.Hirander Misra, CEO of GMEX Group said: "The current environment will lead to increased regulations and an institutional digital flight to quality, creating a need for an offering which makes it easier navigate this with the right governance, control, security and risk management."He continued, "GMEX Group is the first company to offer an end-to-end multi-asset, multi-sector Hybrid Finance solution designed for regulated environments, which bridges the gap between off-chain Traditional Finance (TradFi), Centralized Finance (CeFi) and on-chain Decentralized Finance (DeFi) across jurisdictions. We are pioneering in the domain of Hybrid Finance (HyFi) and are thrilled to have our success in developing unique solutions to address industry challenges formally recognised with this highly prestigious award."Media Contact:GMEX GroupHelen DisneyThe Realization Group Tel: +44 (0)7792 376 546Helen.disney@therealizationgroup.compr@gmex-group.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Tianda Pharma Announces 2022/23 Interim Results ACN Newswire

Tianda Pharma Announces 2022/23 Interim Results

November 25, 2022
HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - Tianda Pharmaceuticals Limited ("Tianda Pharma" or "the Group"; stock code: 0455.HK) today announced its interim results for the six months ended 30 September 2022 ("the Period"). During the Period, the Group adopted proactive marketing strategy and improved its results notably. Its revenue increased by 5.6% to approximately HK$250 million. Gross profit rose by 10.2% to approximately HK$120 million and profit before taxation, depreciation and amortization turned around from loss of HK$6.9 million in the same period last year to profit of HK$2.3 million for the period. Recorded strong sales of core products and continued to optimize Chinese medicine business layoutThe Group has worked hard cultivating the cardiovascular, cerebrovascular and pediatric disease realms and owns unique generic product pipelines. Boasting notable efficacy and competitive price, Tuoping Valsartan capsules, the Group's core product for treating cardio-cerebrovascular disease, has been ranked the No. 1 best-selling product in its category in Mainland China since the success in securing first place in the nation's Centralized Drug Procurement. During the Period, sales of the product reached HK$92.3 million, representing a year-on-year growth of approximately 21%. Tuoen Ibuprofen oral suspension, a pediatric drug, was among the top three in terms of market share in the country due to effective marketing, achieving strong sales of HK$64.0 million for the Period, up approximately 70% year-on-year. The Group has basically built for itself a complete traditional Chinese medicine ("TCM") industrial chain, from trading of Chinese medicinal materials, TCM decoction pieces and formula granules to innovative Chinese medicine R&D and international trade. During the Period, it continued to increase operating product varieties, expand sales channels and strengthen procurement sources, including exporting TCM decoction pieces to Australia and planning for importing to China special variety of Chinese medicinal materials from overseas. Insisted on the inheritance and innovation of TCM, it brought in innovative Chinese medicine transformation projects and embarked on cooperation in developing innovative Chinese medicines. During the Period, overall revenue of TDMalls increased by 81%. The first clinic to adopt the equity investment cooperation model, TDMall (Tsim Sha Tsui) has famous medical experts as shareholders who also participate in the management. Starting to make profit eight months after opening, TDMall (Tsim Sha Tsui) provides valuable experience and serving as a model for expanding the business across the nation and worldwide. The Group is pushing forward with opening a TDMall in Shenzhen, another important step in expanding its presence in the Guangdong-Hong Kong-Macao Bay Area. The Group also continued to invest in "intelligent" development of Chinese medicines. The Chinese medicine cloud technology-based platform "TDMall on Cloud" of the Group played an important role in the Group's "Free Consultation and Medicine" charity campaign during the fifth wave of COVID-19 outbreaks in Hong Kong, offering comprehensive remote Chinese medicine services to the public.Strengthened R&D across the board and capability to bring in business, actively expanded revenue sourcesThe Group has insisted on combining generic drug endeavors with innovation and, via its own R&D efforts and cooperation with external R&D institutions, continued to enrich its product pipelines. During the Period, the Group increased R&D investment, spending HK$12.0 million, up 260% year-on-year, set to allow it to come up with more new products that can become new and strong growth drivers for its medium and long-term development. The Group is currently pursuing 22 R&D projects, including class I innovative Chinese medicines, class III new Chinese medicines, class III chemical drug plus APIs, class IV chemical drugs and healthcare product series. During the Period, the Group actively introduced innovative Chinese medicine transformation projects in which the industry, academia, research and medical sectors come together to develop innovative Chinese medicines for treating chronic heart failure. Such initiatives have given the Group a rich and diversified product development portfolio that covers high-end generic drugs, classic Chinese medicines, modern Chinese medicines and healthcare products. The Group also actively introduced approved proprietary Chinese medicine products. Following the acquisition of the proprietary Chinese medicine product Xiaoer Qingre Zhike Granule last year, it acquired Jianerle Granule, a proprietary Chinese medicine for children during the Period, continuing to expand its pediatric product categories. In addition, the Group launched contract development and manufacturing organization ("CDMO") and contract manufacturing organization ("CMO") businesses to expand its revenue sources and promote business development. As at the end of September 2022, it had seven contracts signed for R&D technology service mainly for liquid pharmaceutical preparations and completed production for two projects during the Period. The two business modes are expected to become growth drivers that can continuously generate revenue for the Group.Stepped up efforts in three business segments, consolidated business foundation and achieved leapfrog developmentTo seize the opportunities in the continuously expanding pharmaceutical and healthcare market, the Group will keep growing its three business segments, namely Chinese medicines, medical and healthcare services and pharmaceuticals and medical technologies, in the future. It will also speed up bringing in products and product R&D, strengthen business expansion efforts, and investment and M&As, so as to achieve leapfrog development. For the Chinese medicine business, leveraging the country's policies to vigorously help the Chinese medicine industry develop, the Group will grasp the policy dividend of TCM and continue to develop the whole industry chain, increasing the trading of Chinese medicinal materials focusing on varieties, while accelerating the development of TCM decoction pieces and formula granules, which have huge market potential. It will also actively invest in the R&D and introduction of innovative Chinese medicines, classic ancient prescriptions of Chinese medicines, finished dosages and proprietary Chinese medicines. For its medical and healthcare services business, the Group will strengthen operation of the TDMalls and speeding up expansion via building its own clinics, franchising and mergers and acquisitions, and as well using different equity investment and cooperation modes. While prioritizing the development in the Guangdong-Hong Kong-Macao Bay Area, the Group will push for nationwide and global reach. At the same time, the Group will continue to improve and perfect its "TDMall on Cloud" app to "enhance user experience", for better online and offline integration, providing patients with convenient and intelligent high-quality Chinese medicine services. On the pharmaceuticals and medical technologies business front, the Group will strive to build up its core product brands such as Tuoping and Tuoen, focusing on developing cardio-cerebrovascular and pediatric products and consolidating relevant advantages. It will also expand its sales network to cover lower-tier markets so as to booster market share and actively expand CDMO and CMO business to boost revenue. In the future, it will apply 3D tactics (BD - business development, ID - investment and development, and R&D - research and development) in developing products with market potential, especially major product types, to provide impetus for long-term sustainable development.About Tianda Pharmaceuticals LimitedTianda Pharmaceuticals Limited ("Tianda Pharmaceuticals", listed on the Hong Kong Stock Exchange, stock code: 0455.HK) implements the following development strategies: development of Traditional Chinese medicine ("TCM") as its foundation, development of innovative drugs and medical technologies, as well as development of high-quality medical and healthcare services, striving to become a leading pharmaceutical enterprise that sets its footholds in China while seeking to expand its presence worldwide. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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China Wantian Holdings Completes the Acquisition of Domestic Fresh Food Supply Chain Service Provider ACN Newswire

China Wantian Holdings Completes the Acquisition of Domestic Fresh Food Supply Chain Service Provider

November 25, 2022
HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - China Wantian Holdings Limited ("China Wantian Holdings"; together with its subsidiaries, the "Group"; stock code: 01854.HK) is pleased to announce that Great Point Limited ("Great Point"), the Group's direct wholly-owned subsidiary, has completed acquisition of Champion Point Limited ("Champion Point")'s subsidiary Shenzhen Wealth Source Trading Development Company Limited* ("Shenzhen Wealth Source", together with Champion Point, the "Target Group"), which is a domestic fresh food supply chain service provider in the PRC. It marks the Group's expansion of its fresh food ingredient business into the Guangdong-Hong Kong-Macao Greater Bay Area (the "Greater Bay Area") market. Upon the acquisition completion, the Target Group has become wholly-owned subsidiaries of the Group.The Target Group which the Group has acquired is principally engaged in the trading of live cattle, fruits, vegetables, seafoods and food ingredients in the PRC. Shenzhen Wealth Source is the operating subsidiary of the Target Group. It sources live cattle from Inner Mongolia and distributes them to slaughterhouses in the Greater Bay Area. It also supplies and offers fruits, vegetables and seafood to restaurants in the Greater Bay Area. Acquiring Champion Point with well-established business network and customer base in the PRC will allow the Group to offer comprehensive service packages to the customers and broaden customer base. Taking into account the adverse impact brought about by the outbreak of COVID-19 on the catering and corresponding food processing industries in Hong Kong, the Group's management believes that the Group can remain competitive by venturing into new markets and diversifying its business development strategies, thus generating higher revenues for investors and shareholders.Apart from acquiring the Target Group, the Group also strategically added two restaurants in Zhongshan's busy city centre, in China's Guangdong Province. The two restaurants are SteamGood, a steamed seafood eatery that specialises in the freshest ingredients, and Kong Xiang Coffee*, a coffee shop that combines nature with space, further expanding its restaurant network in the Greater Bay Area and enhancing the food supply and catering chain businesses. SteamGood and Kong Xiang Coffee cater mainly to young consumers, incorporating trendy concepts such as personalisation, an immersive experience and a check-in for younger-generation diners seeking a high quality of life and healthy food. SteamGood boasts a wide range of top-quality seafood and tempts diners with the freshest dishes. Kong Xiang Coffee is a brisk, fresh blend of space and art that hosts occasional live performances, offering customers delicious fare in an appealing environment, and bringing people together in a highly sociable setting.Benefiting from a package of government policies named "Measures to Promote the Steady Growth of the Wholesale, Retail, Accommodation and Catering Industries in Zhongshan City in 2022, which aims to boost the regional economy and livelihoods, the gross domestic product of Zhongshan City in the first three quarters of 2022 was RMB259.48 billion, 1.2% higher than in the same period of the previous year. Zhongshan City's consumer market has recovered well, and total retail sales of social consumer goods in the first three quarters were worth RMB120.89 billion, up 5.1% year on year. Expressing its confidence in Zhongshan City's huge potential of future development, the Group strategically added the two restaurants in Zhongshan's busy city centre following the earlier opening of restaurants The Hong Kong Wharf and Zhi.HUTAU* there in June, marking a further rapid expansion of Wantian Catering's business map in the area within a short period of time.According to the Group's management, the Group successfully acquired Shenzhen Wealth Source and strategically added two restaurants in Zhongshan city, demonstrating its determination and active deployment to strengthen the development of the food supply and catering chain businesses. To embrace challenges and lay solid foundations for growth in the post-pandemic era, the Group will extend its existing business into the Greater Bay Area market, which is home to a very large customer population, while leveraging the strong synergies between its three main businesses - food supply, catering chain, and environmental protection and technology. Looking ahead, China Wantian Holdings aims to enhance the diversity of its development strategies by expanding its businesses. Its Greater Bay Area business will be its biggest driver of revenue growth and is expected to generate steady and sustainable income over the long term.* The English names are not the official names and are translated for reference purpose only.About China Wantian Holdings LimitedChina Wantian Holdings Limited (01854.HK) is an investment holding company. The Group is principally engaged in food supply, catering chain and environmental protection and technology. In May 2022, China Wantian Holdings established its Greater Bay Area headquarters in Shenzhen, marking its official debut in the Greater Bay Area market to actively establish a leading green brand in the Greater Bay Area to provide customers with fresh, healthy and safe food, striving to become a leading lifestyle service provider in China.For more details, please visit: chinawantian.etnet.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Lead ID of Kitchen Culture Writes to Shareholders Expressing Concerns About Major Shareholder OOWAY Group Which is Leading Second Attempt to Call for EGM To Remove 5 Directors ACN Newswire

Lead ID of Kitchen Culture Writes to Shareholders Expressing Concerns About Major Shareholder OOWAY Group Which is Leading Second Attempt to Call for EGM To Remove 5 Directors

November 23, 2022
SINGAPORE, Nov 23, 2022 - (ACN Newswire via SEAPRWire.com) - The Lead Independent Director ("Lead ID") of Kitchen Culture Holdings Ltd. ("Kitchen Culture" or the "Company"), in a letter to shareholders today, has expressed concerns about promises made to the Company by its largest shareholder, OOWAY Group Ltd. ("OOWAY"), which is leading a second attempt to remove 5 of 6 directors via an extraordinary general meeting ("Second Intended EGM").While Kitchen Culture's Board, acting on legal advice, has announced that the Second Intended EGM scheduled for this Friday is defective and invalid for non-compliance with the Companies Act 1967 and the Company's Constitution, Lead ID William Teo Choon Kow ("Mr Teo") said shareholders have raised concerns about OOWAY and have continued to seek answers about its promises to the Company.OOWAY and 7 individuals (the "Requisitioners") who own an aggregate of 21.71% of the Company's shares have made 2 attempts in recent weeks to remove Mr Teo and 4 others - Mr Lim Wee Li (Executive Director), Mr Lau Kay Heng (Non-Executive Non-Independent Chairman), and IDs, Mr Ang Lian Kiat and Mr Peter Lim King Soon. The Requisitioners want to replace them with 5 others.The Experience of OOWAY's Involvement with Kitchen CultureRecounting the inception of OOWAY to SGX-Catalist listed Kitchen Culture since October 2020, Mr Teo said the business of providing solutions and products for kitchens and wardrobes had not been profitable for years. As such, the Board was excited when it was presented with the prospect of a new business being injected via a deal to acquire shares in OOWAY Technology Pte. Ltd ("OOWAY Technology").A team from the OOWAY Group presented its Asian Accounts Receivable Exchange ("AREX") as "a world's first online platform for trading accounts receivable assets". The platform, running on a digital currency, Lantana, was said to be able to assess and transact up to US$30 billion worth of assets by 2023, its key adviser Mr Liu Yanlong ("Mr Liu") told Kitchen Culture's Board and other investors.After AREX was launched online on 23 February 2021, Kitchen Culture viewed OOWAY as a 'white knight' that could transform the Company's business fortunes. Madam Hao Dongting ("Mdm Hao") - indirectly a 47% shareholder of OOWAY - and Mr Lincoln Teo Choong Han ("Lincoln") joined the Company's Board of Directors in April 2021. Lincoln was named Interim CEO of Kitchen Culture 3 months later."What came next was a bolt from the blue," Mr Teo said. Shortly after his appointment as Interim CEO, Lincoln suddenly stated at a Board meeting in July 2021 that AREX had "nothing to do" with OOWAY and was a 'separate exchange altogether'. In spite of this the Board remained hopeful that Lincoln and OOWAY would be able to bring in other businesses. "As events have shown, this hope was misplaced," Mr Teo said.As confirmed by OOWAY Technology Group, its main revenue for the financial year ended 2021 and the 6-months ended 30 June 2022 was generated from selling parallel imported cars in the People's Republic of China (a business with extremely narrow margins); it incurred substantial losses which have reduced its net assets significantly. Mr Teo noted that this was despite that OOWAY Group listing on its website big names such as Bank of China, ICBC Bank, DBS Bank and Amazon as collaborative partners."These discoveries are extremely concerning. I recently carried out a Google search on AREX and, to my surprise, I could only find two English-language reports on AREX. The AREX website referred to in the press release (www.sgarex.com) is also no longer active," Mr Teo said. Further concerns over the OOWAY Group's actionsMr Teo also stated several other concerns about the actions of OOWAY Group, Mdm Hao and Lincoln:1) OOWAY has not been able to bring in any significant business to the Company, and the only 2 significant ventures it proposed 'have been tainted with irregularities". i) the first involved a transfer of US$480,010 to a Hong Kong company to provide technology support for e-commerce. However, one of the agreements was not dated and the funds transfer was executed without obtaining appropriate due diligence, documentation or prior Board approval. Fortunately, as announced on 14 October 2021, the Company was able to recover a net amount of US$492,259.97 from the Hong Kong company after terminating the transactions. ii) the second, the Company - acting on OOWAY's recommendation through Lincoln amid health concerns during the COVID-19 pandemic - purchased S$600,000 worth of face masks in April 2021 from Anhui Health Box Technology Co. Ltd for resale. Responding to directors' concerns, Lincoln claimed OOWAY had ready buyers offering good margins among its B2B channels, and named the U.S. Government as a transacting party. Instead, Lincoln assigned staff to carry out B2C sales and hired a "Regional Marketing Director" for this purpose at a monthly salary of S$6,000. This was later increased to S$10,000 and resulted in the Company paying S$121,760 in total remuneration to this staff between September 2021 and September 202.To date, total sales achieved for the masks is S$41,624 while the total costs incurred in this business amounted to S$797,046. The shelf life of the masks will expire in January 2023. 2) Between July 2021 and July 2022 during which Lincoln was Interim CEO, more than S$4 million of the Company's funds were depleted. Apart from the 2 ventures listed above, i) Lincoln recruited 4 employees between July to September 2021 from another company where he is a shareholder and director to launch a digital trade business for the Company, some of whom occupied positions which did not match their job experience. This business did not get off the ground and the Company paid an aggregate of S$408,240 to these 4 employees in salaries, allowances and CPF until their employments were terminated by the new Board in July 2022.ii) Instead of leaving the Special Auditor to complete its investigations on irregularities that happened during the past management term to decide on the most appropriate course of action, Lincoln spent more than S$1.1 million in legal fees in suits against the former CEO and Executive Director Lim Wee Li and 2 Chinese employees of the Company.3) The OOWAY Group had made various promises about injecting funds into the Company but these were either never followed through on its promises or contained terms or conditions which the Directors deemed to be unacceptable.Mr Teo said, "... There are serious question marks around why the Relevant Shareholders, led by the OOWAY Group, are now mounting their attempt to remove the current Board (save for Mdm Hao, its own representative) and are going about their efforts in such an antagonistic manner. In view of all of the circumstances above, the Board considers that there may be a need for further investigation into the representations made by the OOWAY Group..."Kitchen Culture has also responded to a press release issued on ACN Newswire by the requisitioners on 18 November 2022. The Company announced that the press release had urged shareholders not to be "discouraged" by the Company's statement about the validity of the Second Intended EGM.Acting on the advice of 2 lawyers, Kitchen Culture has told shareholders not to attend the Second Intended EGM as notices sent by requisitioners were defective and invalid.However, to give 'appropriate room' for the wishes of the requisitioners, the latter could "(i) bring before a Court for determination those legal issues they do not agree with, or (ii) to issue a proper and fully compliant set of documents and take all steps to facilitate a proper general meeting of the Company", the Board (with the exception of Mdm Hao) said.Kitchen Culture shares have been suspended from trading since July 2021. Its Board has seen several changes since the involvement of OOWAY. Issued by:Kitchen Culture Holdings Ltd.9 Raffles Place, #52-02, Republic PlazaSingapore 048619 Tel: +65 6471 6776, Fax: +65 6472 6776Media & Investor Contact Whatsapp (Text): +65 9748 0688 kitchenculture@wer1.netThis press release has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.Kitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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MHI: Joint Demonstration of Automated Picking Solution Launched in Collaboration with Kirin Group JCN Newswire

MHI: Joint Demonstration of Automated Picking Solution Launched in Collaboration with Kirin Group

November 21, 2022
TOKYO, Nov 21, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Logisnext Co., Ltd., a global player within MHI Group, engaged in logistic machinery and solution business, will launch joint demonstration of an automated picking solution for beverage warehouses in collaboration with Kirin Beverage Co., Ltd. and Kirin Group Logistics Co., Ltd. from the end of this month.The demonstration includes establishment and verification of MHI's automated picking system's operating processes at "LogiQ X Lab". The demonstration facility is located within Yokohama Hardtech Hub (YHH), a co-creation space operated by MHI in Yokohama. The ultimate aim is to install automated picking solutions(Note1) developed by MHI Group in beverage warehouses, which typically rely heavily on manual labor, placing a burden on logistics operators. The joint demonstration will continue through the end of June 2023.Until now, warehouse workers have borne the bulk of responsibility for pursuing increased efficiency in their picking operations. Going forward, with MHI Group's automated picking solutions, automation and intelligence can be introduced into the picking process through application of the "∑SynX" (Sigma Synx) solution concept(2) currently under development by MHI. Optimized engines and an integrated control system, all developed in-house, together enable efficient coordination of multiple automated guided forklifts (AGFs), automated guided vehicles (AGVs) and palletizers(3). This results in fewer picking and transfer operations, optimized picking processing, and higher throughput.Within Kirin Group, automation is steadily being introduced on production floors, but logistics in the company's warehouses continue to rely heavily on work performed by manual labor and use of manned forklift trucks. The need to improve the work environment, especially through measures for picking heavy loads, and shortages of logistics operators, pose significant challenges. In the demonstration now underway, AGFs, AGVs and palletizers are being coordinated under Kirin Beverage's warehouse operation conditions, and optimized control under ∑SynX is being verified in a quest to solve the challenges inherent in warehouse distribution with optimal safety.Going forward, through the coordination with Kirin Group in this demonstration program, MHI Group will continue to work to solve the diverse distribution challenges faced by the beverage industry.(1) For details, refer to: www.mhi.com/news/22083102.html(2) ∑SynX is MHI's standard platform for synchronizing and coordinating various types of machinery systems. It consolidates a host of digital technologies that enable optimized operation by making machinery systems intelligent.(3) A palletizer is a device that performs automated placement and stacking of products, such as beverage cases, on pallets.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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China Wantian Holdings Announces FY2022 Interim Results ACN Newswire

China Wantian Holdings Announces FY2022 Interim Results

November 18, 2022
HONG KONG, Nov 18, 2022 - (ACN Newswire via SEAPRWire.com) - China Wantian Holdings Limited ("China Wantian Holdings" or the "Group"; stock code: 01854.HK) announces its unaudited interim results for the six months ended 30 September 2022 (the "Reporting Period"). Following the completion of the general offer in August 2021, the Group has officially stepped towards a new milestone by setting up business operation points in Shenzhen city and Zhongshan city, as well as establishing its headquarters in the Guangdong-Hong Kong-Macao Greater Bay Area (the "Greater Bay Area") to expand its business in the region. The year 2022 marks a new chapter for the Group, during which the Group doubles its effort to develop three main businesses including supply chain, catering, as well as environmental protection and technology, in the Greater Bay Area market.During the Reporting Period, China Wantian Holdings began to develop business in the Greater Bay Area, while maintaining its business in sourcing, processing and supplying food ingredients, with a focus on the provision of vegetables and fruit to food service operators in Hong Kong. It currently supplies in excess of 1,300 food ingredients to more than 480 customers. During the Reporting Period, the Group's revenue from the existing business remained stable and the total revenue increased by 0.74% year-on-year to approximately HK$68.7 million (six months ended 30 September 2021: approximately HK68.2 million). During the Reporting Period, thanks to the improvement in product mix, gross profit surged by approximately 33.4% year-on-year to approximately HK$14.9 million (six months ended 30 September 2021: approximately HK$11.2 million), and gross profit margin improved to approximately 21.7% from approximately 16.4% in the same period of last year. However, the establishment of the Group's Shenzhen headquarters and Zhongshan branch and active expansion of its business in the Greater Bay Area has lifted up the Group's operating expenses, thus resulting in a net loss of approximately HK$8.1 million (six months ended 30 September 2021: net loss of approximately HK$1.4 million), inclusive of an expense resulting from share option of HK$3.8 million. The investment in operating expenses is beneficial to the Group's business expansion, and is expected to contribute to the Group's long-term development eventually.In May 2022, the Group established its Greater Bay Area headquarters in Shenzhen's Nanshan district, marking its official debut in the high-potential Greater Bay Area market. Subsequent to the establishment of its headquarters in the Greater Bay Area, the Group continued to adopt its multi-pronged approach to accelerate the business development in the region. At the same time, the Group announced that it will double its effort to develop three main businesses including supply chain and catering, as well as environmental protection and technology to actively establish a leading green brand in the Greater Bay Area. Moreover, the Group officially set up its Zhongshan branch in June 2022, signifying that Zhongshan city will become the Group's regional headquarters in the Zhuhai-Zhongshan-Jiangmen Economic Circle. The Group is also optimistic about the business prospects of Zhongshan city and sees it as the starting point of its three main businesses, followed by gradually expanding its businesses to the Greater Bay Area market.With regards to supply chain business, the Group capitalises on its advantages in Hong Kong supply chain business, boosting efficiency of every sessions and striving to deliver fresh ingredients namely seafood, meat and vegetables to customers in a safe and efficient manner, with the fastest time and at the lowest cost. At the same time, the Group plans to replicate its successful experience gained in Hong Kong to the Greater Bay Area market. In November 2022, the Group announced that it intends to acquire Shenzhen Wealth Source Trading Development Company Limited* ("Shenzhen Wealth Source"), which is a domestic fresh food supply chain service provider in the PRC. It marks the Group's expansion of its supply chain business into the Greater Bay Area market. Shenzhen Wealth Source is principally engaged in the trading of live cattle, fruits, vegetables, seafoods and food ingredients in the PRC. It sources live cattle from Inner Mongolia and distributes them to slaughterhouses in the Greater Bay Area. It also supplies and offers fruits, vegetables and seafood to restaurants in the Greater Bay Area. Acquiring Champion Point with well-established business network and customer base in the PRC will allow the Group to offer comprehensive service packages to the customers and broaden customer base, thus expediting the development of supply chain business. With regards to catering business, the Group strives to seize the business opportunities of the catering industry in the Greater Bay Area, further expanding its restaurant network to other cities and its catering business territory in the Greater Bay Area. Leveraging its whole-of-industry supply chain in the upstream, midstream and downstream segments, the Group strategically opened restaurants that specialises fresh food ingredients in the heart of Zhongshan's busiest areas, gradually expanding the brand Wantian Catering. The four restaurants cater mainly to young consumers, specialising dishes for customers who love to "check in" and eat healthily. While the reach of Wantian Catering gradually extends, the Group has been actively enhancing its brand recognition in the Greater Bay Area and expanding its customer base in order to grow its market share.With regards to environmental protection and technology business, the Group actively supports the national development approach of "modern agricultural technology and environmental protection", integrating agricultural technology and green environmental protection, utilising available rooftop for farming and increasing the urban green area, with a view of supporting sustainable development of the Greater Bay Area. Besides, the Group has also been actively supporting national policies to realise the vision of net-zero carbon emission by establishing a department dedicated to promoting modern agriculture and green education in primary and secondary schools and enterprises in the Greater Bay Area, with an aim of promoting a green and environmentally-friendly lifestyle and making the world a greener place.Being one of the most open and economically dynamic regions in the PRC, the Greater Bay Area plays an important and strategic role in the overall development of the country, and is now facing unprecedented development opportunities. The Group's management believes that the Greater Bay Area business will be its biggest driver of revenue growth, and is expected to generate steady and sustainable income over the long term. China Wantian Holdings aims to enhance the diversity of its development strategies by expanding its businesses. With the establishment of Shenzhen headquarters being the first step of its Greater Bay Area development strategy, the Group will focus on the synergies among the three businesses namely supply chain and catering, as well as environmental protection and technology, to foster unique strengths to overcome challenges and establish solid foundations. Looking ahead, leveraging on the extensive business experience of management and its well-established business network in the PRC, the Group will continue to identify potential business opportunities. By adhering to the business philosophy of "People-Oriented, Pragmatism, Creativity and Honest and Responsible", the Group will set up a one-stop food industry chain system covering from the source of cultivation to the food supply chain and the catering businesses, with a view to becoming a leading service provider for good life and a premier green brand in the Greater Bay Area.About China Wantian Holdings LimitedChina Wantian Holdings Limited (01854.HK) is an investment holding company. The Group is principally engaged in sourcing, processing and supplying food ingredients, with a focus on the provision of vegetables and fruit to food service operators in Hong Kong. It supplies in excess of 1,300 food ingredients to more than 480 customers. In May 2022, China Wantian Holdings established its Greater Bay Area headquarters in Shenzhen, marking its official debut in the Greater Bay Area market. The Group will focus on developing three main businesses in this market, including supply chain and catering, as well as environmental protection and technology to actively establish a leading green brand in the Greater Bay Area to provide customers with fresh, healthy and safe food, meanwhile striving to become a leading lifestyle service provider in China.For more details, please visit: chinawantian.etnet.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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CR Pharmaceutical Becomes Constituent of MSCI China Index Once Again ACN Newswire

CR Pharmaceutical Becomes Constituent of MSCI China Index Once Again

November 14, 2022
HONG KONG, Nov 14, 2022 - (ACN Newswire via SEAPRWire.com) - China Resources Pharmaceutical Group Limited ("CR Pharmaceutical" or the "Group") (stock code: 3320) has announced that the Group will once again be included as a constituent stock of the MSCI China Index, which will become effective after the market close on 30 November 2022.The MSCI Indexes are key benchmarks for institutional investors investing in the global equity markets, and cover companies with positive operating performance and solid potential. The selected stocks must meet the market capitalization, liquidity and free-float requirements, and thus have a high reference value. The MSCI China Indexes consist of a range of country, composite and non-domestic indexes for the Chinese market, intended for both international and domestic investors, including Qualified Domestic Institutional Investors (QDII) and Qualified Foreign Institutional Investors (QFII) licensees. The indexes are calculated according to the MSCI Global Investable Market Indexes (GIMI) Methodology.The inclusion of the Group in the MSCI China Index reaffirms the market's recognition of the Group's business development. CR Pharmaceutical's share price has been on a valuation recovery trajectory since 2022. The Group's innovative and transformative strategy and stable business performance have been widely recognized by the market. As at the end of October, the Group's market capitalization increased by almost 50% compared with the beginning of the year, and stock activity also increased year-over-year. As a result of this inclusion in the MSCI China Index, a large number of passive indices funds are expected to purchase the Company's shares. This will further improve the Company's performance in the stock market.In the future, CR Pharmaceutical will uphold its mission of "being the guardian of human health and improving quality of life". It will continue to optimize its business structure and consolidate its leading position in the industry with R&D innovation and investment in M&A as its engines. This will bring favorable returns to its shareholders and contribute to the growth of the health industry in China.China Resources Pharmaceutical Group LimitedChina Resources Pharmaceutical Group Limited ("CR Pharm", stock code: 3320) is a leading integrated pharmaceutical company in China. It primarily engages in the research and development, manufacturing, distribution and retailing of an extensive range of pharmaceutical and healthcare products. CR Pharm is one of the largest pharmaceutical enterprises (manufacturing 600 products), the largest manufacturer of over-the-counter drugs and the third largest distributor of pharmaceutical products in China. Its pharmaceutical distribution network comprises approximately 200 subsidiaries, and covers 28 provinces, municipalities and autonomous regions in the country, distributing products direct to local hospitals and other medical institutions. It also operates one of the largest retail pharmacy networks in China, consisting of 787 pharmacies under premium brands including "Dexin Pharmacy" and "CR Care", and 221 of them are DTP pharmacies. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Alexander Bojer is appointed new CEO of Inacta AG as of January 2023 ACN Newswire

Alexander Bojer is appointed new CEO of Inacta AG as of January 2023

November 9, 2022
ZUG, SWITZERLAND, Nov 8, 2022 - (ACN Newswire via SEAPRWire.com) - The Board of Directors of Inacta Group AG ("Inacta") has elected Alexander Bojer as a new member of Inacta's group management. He joins Ralf Glabischnig and Marco Bumbacher on the management team from 1 January 2023.Alexander BojerAs CEO of Inacta AG, Alexander will continue to drive forward Inacta's core operating businesses of consulting and product development. Ralf Glabischnig will focus on the further growth of Inacta Ventures and take care of the overall development of the group. Marco Bumbacher will continue to manage the corporate functions of the Inacta Group and act as COO of Inacta AG.Founded in 2009 by Marco Bumbacher and Ralf Glabischnig, Inacta AG is an expert partner for digital transformation and innovation. Leading Swiss companies rely on Inacta's digitalisation know-how and products. For the past five years, Inacta has additionally focussed on blockchain and related areas of innovation, where it plays a pioneering role.Inacta Ventures is the Inacta Group's own venture-building structure that identifies new business models, designs business models and transfers them into its own start-ups or joint ventures. At the end of 2021, Inacta included 15 majority-owned companies and more than 40 minority-owned companies. In addition, expansion into the Middle East was pursued and a new investment company, Crypto Oasis Sentio, was founded in Dubai, which has already made over 30 investments in start-ups.From 2002 to 2013, Alexander Bojer held a number of roles, including as a management consultant at Accenture and The Boston Consulting Group (BCG). Since 2014, he has co-founded several technology start-ups and was most recently responsible for building the health start-up, Well Gesundheit, AG as its CEO. Alexander Bojer says, "I am very much looking forward to shaping the great success story of Inacta together with the two founders, the board of directors, the management team and all employees." Ralf Glabischnig says, "With these new structures we have the right people in key positions to continue to successfully drive the Inacta Group forward. Thanks to this new management organisation I have the opportunity to focus even more on strengthening and growing Inacta Ventures at home and abroad." Daniel Sauter, Chairman of the Board of Directors of Inacta Group AG: "With Alexander, we have been able to gain a competent and experienced CEO. With his broad expertise as an entrepreneur and consultant, he will further advance our core business of consulting services and product development."About Inacta GroupInacta Group stands out from its peers with its innovative services and products related to digital transformation, blockchain-based business models and information management and is involved in the international venture business with offices in Switzerland and the United Arab Emirates. The Inacta Group emerged from the fast-growing Inacta AG - an independent Swiss IT company founded in Zug in 2009. It owns stakes in international start-ups and service providers with a focus on blockchain, digital assets, fintech and artificial intelligence.Press contact:Jennifer Arman+41 41 725 08 86jennifer.arman@inacta.ch Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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新火科技获英国保险巨头承保，进一步提高客户托管资产安全

November 3, 2022
EQS 新闻 via SEAPRWire.com / 2022-11-03 / 12:02 UTC+8 新火科技获英国保险巨头承保，进一步提高客户托管资产安全 【2022年11月3日，香港】新火科技控股有限公司（「新火科技」，股票代码：1611.HK）今日欣然宣布，旗下子公司新火信托有限公司（「新火信托」）获英国保险巨头伦敦劳合社（Lloyd's of London）旗下知名保险机构Arch Insurance Group Inc (“Arch Insurance”) 承保，为客户托管资产增加保险保障。 作为合规的信托公司，新火信托持有香港信托或公司服务提供者（TCSP）牌照，并且十分重视客户资产安全。旗下托管服务由9年科技经验，零事故的安全技术团队打造，并斩获多项国际安全认证。但资产安全没有上限，保险对于保护投资者利益以及业务的长远健康发展至关重要。 伦敦劳合社为英国最大保险组织，拥有200多年历史，业务遍及全球200多个国家。此次新火信托获其旗下辛迪加成员Arch Insurance担任承保人和管理人，为客户提供冷钱包保险服务。保险主要为客户在安全漏洞或黑客攻击，冷储存设施物理损坏等风险中加密资产损失提供保障。Arch Insurance作为伦敦劳合社的成员，是一家增长快速的保险公司，其计划于2022年在伦敦市场的20多条业务线上达到总保费达到20亿美元。 保护客户资产安全，打造高效和专业的服务是新火科技一贯坚持的使命。此次获得承保有利于公司进一步提高保护客户资产安全性的标准，未来公司也将持续打磨服务，为客户提供更加全面的资产安全保护措施。 关于新火科技 新火科技控股有限公司（简称「新火科技」，股票代码：1611.HK）是领先的一站式数字资产服务平台。我们致力于引领传统金融进入数字资产世界，服务注重专业、合规、安全和高效。新火科技服务现涵盖数据中心、软件即服务（SaaS）、虚拟资产管理、托管、场外大宗交易、借贷、交易平台和战略投资等。 文件: 新火科技获英国保险巨头承保，进一步提高客户托管资产安全 2022-11-03 此财经新闻稿由EQS Group via SEAPRWire.com转载。本公告内容由发行人全权负责。原文链接: http://www.todayir.com/sc/index.php
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Transnational, homegrown developers accoladed at the 12th PropertyGuru Asia Property Awards (Singapore) celebration ACN Newswire

Transnational, homegrown developers accoladed at the 12th PropertyGuru Asia Property Awards (Singapore) celebration

November 1, 2022
SINGAPORE, Nov 1, 2022 - (ACN Newswire via SEAPRWire.com) - PropertyGuru Group (NYSE: PGRU), Southeast Asia's leading property technology company, named the Winners and Highly Commended awardees of the 12th annual edition of the PropertyGuru Asia Property Awards (Singapore) on Friday 28 October, supported by Kohler and Mitsubishi Electric Asia Pte Ltd.-- UOL Group Limited leads list of 2022 awardees with diverse wins that include the titles of Best Developer, Best Transnational Developer, and Best Hospitality Developer -- Aurum Land (Private) Limited, GuocoLand, Fairview Developments Pte Ltd (a unit of Tong Eng Group), and The Assembly Place also dominate the Developer categories-- Michelle Yong, CEO of Aurum Land and CEO and founder of Core Collective, receives the award for Singapore Real Estate Personality of the Year The 12th Annual PropertyGuru Asia Property Awards (Singapore) celebrated excellence and innovation in real estate development and design with a highly awaited gala dinner and presentation at the Shangri-La Singapore ballroom. The 2022 edition of the programme, part of the PropertyGuru Asia Property Awards series, distinguished Singapore's outstanding real estate developers and projects in 42 categories. UOL Group Limited garnered the Best Developer award, their third win in this category after holding the coveted title in 2012 and 2019. The company also won the new title of Best Transnational Developer as well as the Best Hospitality Developer award, buoyed by its project Pan Pacific Orchard, which won the Best Hotel Development award. The company also won two Special Recognitions. UOL Group Limited, Singapore Land Group Limited, and Kheng Leong Company, won three awards for their projects Amo Residence and The Watergardens at Canberra. GuocoLand won the titles of Best Luxury Developer, Best Sustainable Developer, and Best Mixed Use Developer, in addition to two Special Recognitions. Meyer Mansion, a project by GuocoLand, won the highly competitive title of Best Condo Development (Singapore), plus two awards. Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group) was named Best Housing Development (Singapore), another highly sought-after title, and Best Strata Housing Development. Fairview Developments Pte Ltd (a unit of Tong Eng Group) was named Best Landed Developer.Park Nova by Shun Tak Holdings won across three categories, including Best Ultra Luxury Condo Development. Meanwhile, The Assembly Place was named Best Co-Living Operator and received the Best Heritage Co-Living Space award for 138-142 Jalan Besar.Named Best Lifestyle Developer and Best Boutique Developer, Aurum Land (Private) Limited won Best Lifestyle Development for The Hyde. Michelle Yong, CEO of Aurum Land and CEO and founder of Core Collective, came to accept the golden statuette for Singapore Real Estate Personality of the Year, a title decided by the editorial team of Property Report by PropertyGuru, the official magazine of the Awards. Yong was honoured for modernising Aurum Land into a true space and business innovator and contributing to Singapore's co-sharing economy.Michelle Yong said: "I believe that what matters most in life is the depth of your relationships and the sheer number of people you have helped along the way-it is the true measure of wealth-and that as business leaders, we have the privilege and duty to impact so many more people more deeply. I hope to live up to the legacy of this award and its past recipients by continuing to lead from the heart and build supportive environments that create change, advance communities, and accelerate growth." Hari V Krishnan, CEO and managing director of PropertyGuru Group, said: "Congratulations to the finest real estate developers and projects in Singapore this year. The recipients of these Awards show how Singaporean developers continue to offer an increasing variety of dream homes, especially in terms of luxury, wellness, and environment. We hope that by recognising these great projects, PropertyGuru will be able to ease the decision-making process for property seekers in Singapore."The independent panel of judges who determined this year's winning developers and projects consist of Kristin Thorsteins, chairperson of the Awards in Singapore and head of partnership growth for APAC, IWG PLC; Chua Shang Chai, partner, Dentons Rodyk & Davidson LLP; Greg Shand, architect, Robert Greg Shand Architects; Henry Woon, director, Atelier Ten; Joelle Chen, sustainability director, Singapore, Lendlease; Tay Kah Poh, adjunct associate professor at the NUS Department of Real Estate; Dr. Teo Ho Pin, senior adviser, managed services, Surbana Jurong Private Limited; and Wenhui Lim, partner, SPARK Architects.As the official supervisor of the Awards, the team of HLB Singapore Foo Kon Tan, led by Raymond Kong and Chen Tsai-Wei Vivian, made this year's selection process as fair, transparent, and credible as possible. Top winners in Singapore will now head to the 17th PropertyGuru Asia Property Awards Grand Final, set on 9 December in Bangkok, Thailand, which will welcome awardees from around the region to compete for the titles of 'Best in Asia' as well as attend the PropertyGuru Asia Real Estate Summit on 8 December, as part of PropertyGuru Week.Organised by PropertyGuru Group (NYSE: PGRU), the 12th Annual PropertyGuru Asia Property Awards (Singapore) programme is supported by gold sponsors Kohler and Mitsubishi Electric Asia Pte Ltd.; official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; official channel partner History; official PR partner Artemis Associates; media partners d+a Magazine, Luxuo, Palace, and Yacht Style; official ESG partner Baan Dek Foundation; supporting associations Singapore Estate Agents Association and Singapore Green Building Council; and official supervisor HLB.For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.LIST OF WINNERS AND HIGHLY COMMENDED AWARDEES12th PropertyGuru Asia Property Awards (Singapore) DEVELOPER AWARDSBest Developer WINNER: UOL Group LimitedBest Luxury Developer WINNER: GuocoLandBest Mixed Use DeveloperWINNER: GuocoLandBest Hospitality DeveloperWINNER: UOL Group LimitedBest Lifestyle DeveloperWINNER: Aurum Land (Private) LimitedBest Sustainable DeveloperWINNER: GuocoLandBest Transnational DeveloperWINNER: UOL Group Limited Best Boutique DeveloperWINNER: Aurum Land (Private) Limited Best Landed DeveloperWINNER: Fairview Developments Pte Ltd (a unit of Tong Eng Group) Best Co-Living OperatorWINNER: The Assembly PlaceDEVELOPMENT AWARDSBest Ultra Luxury Condo DevelopmentWINNER: Park Nova by Shun Tak HoldingsBest Luxury Condo DevelopmentWINNER: Perfect Ten by Property Enterprises Development (Singapore) Pte LtdHIGHLY COMMENDED: The Hyde by Aurum Land (Private) LimitedBest Luxury Waterfront Condo DevelopmentWINNER: Meyer Mansion by GuocoLand Best Premium Condo DevelopmentWINNER: Liv @ MB by Bukit Sembawang Estates LimitedHIGHLY COMMENDED: Amo Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong CompanyBest Private Condo DevelopmentWINNER: The Commodore by JBE Holdings Pte LtdBest Boutique Condo DevelopmentWINNER: Orchard Sophia by Orchard Sophia Pte Ltd Best Executive Condo DevelopmentWINNER: Tenet by TQS Development Pte Ltd Best Nature-Integrated DevelopmentWINNER: The Watergardens at Canberra by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company Best Lifestyle DevelopmentWINNER: The Hyde by Aurum Land (Private) LimitedHIGHLY COMMENDED: Orchard Sophia by Orchard Sophia Pte Ltd Best Strata Housing DevelopmentWINNER: Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group)Best Hotel DevelopmentWINNER: Pan Pacific Orchard by UOL Group LimitedBest Office DevelopmentWINNER: Frasers Tower by Frasers Property SingaporeBest Industrial DevelopmentWINNER: FoodFab @ Mandai by Mandai 7 JV Pte LtdDESIGN AWARDSBest Ultra Luxury Condo Architectural DesignWINNER: Park Nova by Shun Tak HoldingsBest Luxury Condo Architectural DesignWINNER: Meyer Mansion by GuocoLandHIGHLY COMMENDED: Perfect Ten by Property Enterprises Development (Singapore) Pte LtdHIGHLY COMMENDED: The Hyde by Aurum Land (Private) LimitedBest Premium Condo Architectural DesignWINNER: Amo Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong CompanyBest Private Condo Architectural DesignWINNER: The Commodore by JBE Holdings Pte LtdBest Luxury Condo Interior DesignWINNER: Perfect Ten by Property Enterprises Development (Singapore) Pte LtdHIGHLY COMMENDED: The Hyde by Aurum Land (Private) LimitedBest Premium Condo Interior DesignWINNER: Liv @ MB by Bukit Sembawang Estates LimitedBest Boutique Condo Interior DesignWINNER: Orchard Sophia by Orchard Sophia Pte LtdBest Private Condo Interior DesignWINNER: The Commodore by JBE Holdings Pte LtdBest Ultra Luxury Condo Landscape Architectural DesignWINNER: Park Nova by Shun Tak HoldingsBest Premium Condo Landscape Architectural DesignWINNER: Amo Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company Best Hotel Architectural DesignWINNER: Artyzen Singapore by Artyzen Hospitality GroupBest Hotel Interior DesignWINNER: Artyzen Singapore by Artyzen Hospitality GroupBest Heritage Co-Living SpaceWINNER: 138-142 Jalan Besar by The Assembly PlaceHIGHLY COMMENDED: The Assembly Place, A Co-Living Hostel @ Perak by The Assembly Place Best Co-Living SpaceWINNER: Hovoh Homes by Hovoh Pte LtdBEST OF SINGAPORE AWARDSBest Condo Development (Singapore)WINNER: Meyer Mansion by GuocoLandBest Housing Development (Singapore)WINNER: Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group)SPECIAL AWARDSSpecial Recognition in ESGWINNER: GuocoLandWINNER: UOL Group LimitedSpecial Recognition in Sustainable Design and ConstructionWINNER: GuocoLandWINNER: UOL Group Limited PUBLISHER'S CHOICESingapore Real Estate Personality of the YearWINNER: Michelle Yong, CEO of Aurum Land and CEO and founder of Core CollectiveNOTE: Use of the PropertyGuru Asia Property Awards (Singapore) logo is limited to the publication of this article only.PROPERTYGURU CONTACTS:General Enquiries:Richard Allan AquinoHead of Brand & Marketing ServicesM: +66 92 954 4154E: allan@propertyguru.com Sponsorships:Kanittha SrithongsukRegional Manager, Awards SponsorshipM: +66 93 293 9794E: kanittha@propertyguru.com Media & Partnerships:Nate DacuaMedia Relations & Marketing Services ManagerM: +66 92 701 2510E: nate@propertyguru.com Sales & Nominations:Alicia LohAwards ManagerM: +65 8382 0078E: alicia@propertyguru.com.sgABOUT PROPERTYGURU ASIA PROPERTY AWARDS:PropertyGuru'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 2022, the Awards series is open to more than a dozen 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 2022. For more information, please visit AsiaPropertyAwards.comABOUT PROPERTYGURU GROUP:PropertyGuru Group is Southeast Asia's leading* property technology company, and the preferred destination for over 38 million property seekers# to find their dream home, every month. PropertyGuru and its group companies empower property seekers with more than 3.3 million real estate listings, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.PropertyGuru.com.sg was launched in 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the Group has grown into a high-growth technology company with a robust portfolio of leading property portals across its core markets company; award-winning mobile apps; a high quality developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of other property offerings including Awards, events and publications across Asia.For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn. * In terms of Engagement Market Share based on SimilarWeb data.# Based on Google Analytics data between July 2021 and December 2021 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Society Pass (Nasdaq: SOPA)/Thoughtful Media Group Collaborates With Magnite to Develop Retail Media Network in Southeast Asia ACN Newswire

Society Pass (Nasdaq: SOPA)/Thoughtful Media Group Collaborates With Magnite to Develop Retail Media Network in Southeast Asia

October 27, 2022
SINGAPORE, Oct 27, 2022 - (ACN Newswire via SEAPRWire.com) - Thoughtful Media Group Inc ("Thoughtful Media Group" or "TMG"), the Thailand-based, digital advertising arm of Society Pass Incorporated (Nasdaq: SOPA) ("SoPa" or the "Company"), Southeast Asia's ("SEA") leading data-driven loyalty and e-commerce ecosystem, today announced a collaboration with Magnite Inc, (NASDAQ: MGNI) ("Magnite"), the world's largest independent omnichannel sell-side advertising platform. Magnite serves as the first sell-side platform connected to the TMG Media Network, a premium omni-channel cross-platform advertising solution for international and regional brand advertisers.The TMG Media Network offers brand advertisers exposure to consumers in Vietnam, Indonesia, Philippines, Singapore, and Thailand, including the more than 3.3 million registered consumers on SoPa's ecosystem. The network features premium inventory spanning its owned channels and the wider web, including display, mobile, video, social and digital out-of-home when fully deployed. For brand advertisers, the TMG Media Network offers an unprecedented combination of scale and personalized media, targeting SEA markets and their combined 650 million population.Magnite enables programmatic activation and expands demand facilitation for TMG Media Network across its omnichannel inventory. Advertisers and publishers are then able to activate data from TMG Media Network through Magnite, unlocking new opportunities to reach audiences at scale across ad formats for brands.Dennis Nguyen, TMG Chairman, explains, "We are excited to launch the TMG Media Network, which provides advertisers access to influencer content creation, highly targeted 1st party e-commerce data, and social commerce opportunities at scale. As a leading retail marketing solution in SEA, the TMG Media Network incorporates a multi-faceted, data-driven approach to audience reach, engagement, and conversion, which provides for a more impactful brand and consumer experience. And as data-driven social commerce becomes increasingly pervasive, TMG is well-positioned to power the region's first media and advertising network with an end-to-end content, data, and supply solutions."Gavin Buxton, Managing Director, Asia at Magnite, stated, "We are excited to work with one of Southeast Asia's most innovative brands and platforms to drive meaningful growth through game-changing content, data, and technology. Activating SoPa's expansive and growing audience data to scale impactful, multi-channel experiences shapes the way consumers engage and interact with brands."About Thoughtful Media Group IncFounded in 2010 and acquired by Society Pass Inc in 2022, Thoughtful Media Group Inc is a Bangkok-headquartered social commerce-focused, premium digital video Multi-Platform Network ("MPN")/social media influencer advertising platform servicing the SEA countries of Vietnam, Indonesia, Philippines, Singapore and Thailand.About Society Pass IncFounded in 2018 as a digitally-focused loyalty and data marketing 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 e-commerce 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 Society Pass loyalty 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, please check out: http://thesocietypass.com/.About Magnite, IncWe're Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.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 contactPRecious Communications for SoPasopa@preciouscomms.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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OOWAY GROUP Clarifies Factual Inaccuracy in Kitchen Culture’s 14 October 2022 Announcement to SGXNet ACN Newswire

OOWAY GROUP Clarifies Factual Inaccuracy in Kitchen Culture’s 14 October 2022 Announcement to SGXNet

October 20, 2022
SINGAPORE, Oct 20, 2022 - (ACN Newswire via SEAPRWire.com) - OOWAY Group Ltd today announced that it wishes to clarify the factual inaccuracy in Kitchen Culture Holdings Limited's 14 October 2022 announcement ("Announcement") to SGXNet with regard to an interest-free loan of S$1.5 million (Unconditional Interest-Free Loan) that was offered to Kitchen Culture by OOWAY Group as a gesture to assist the Company in alleviating its dire financial situation. Kitchen Culture's Announcement had stated:"As regards the S$1.5 million interest-free loan proposed by the OOWAY Group as referred to in the Article, it came with the pre-condition that a specific candidate had to be appointed as Chief Financial Officer ("CFO") of the Company".OOWAY Group would like to clarify that the final version of the Loan dated 8 June 2022 and offered to the Company, did not come with any pre-conditions, and that Kitchen Culture's Announcement to SGXNet was a factual inaccuracy.From May 2022 to early June 2022, there were several rounds of discussions on the loan amount and conditions tied to the loan. The final version of the Term Sheet dated 8 June 2022 was signed by OOWAY Group and then circulated to Kitchen Culture's Board of Directors on the same date.The terms specified in the Term Sheet are as follows:1. Loan Tenor of 1 year from the date of first drawn down (Initial Term);2. No interest shall be payable;3. OOWAY has the option to extend the loan tenor or convert the loan to equity shares of KC after the Initial Term expires. Term and condition to be agreed upon later by both parties and approvals from the relevant authorities.OOWAY Group invites the Board of the Company to clarify the above statement in the Announcement and to circulate to the shareholders the Term Sheet of the Unconditional Interest-Free Loan for purpose of clarity and transparency.Expressing his surprise at Kitchen Culture's not accepting the Unconditional Interest-Free Loan, Mr Liu Yanlong, representative for OOWAY Group said, "This proposed Unconditional Interest-Free Loan was not accepted by the Board of Kitchen Culture for reasons unknown to us. Instead, the Board subsequently accepted a loan bearing interest of 10% per annum along with an additional term that the loan could be defaulted if there was any change in the composition of the Board".Mr Liu added, "This misstatement of facts if not clarified and rectified by the Company may lead to shareholders being misled and cause damage to the Company's reputation.OOWAY Group on 16 October 2022, announced that together with 7 other shareholders of Kitchen Culture, they will be convening an Extraordinary General Meeting (EGM) of the Company pursuant to Section 177 of the Companies Act, to appoint a new board and remove 5 existing directors. The EGM will be held on 1st November 2022, 9.00 am at Toucan Room Level 4, Grand Copthorne Waterfront Hotel, 392 Havelock Road, Singapore 169663.About OOWAY Group Ltd.OOWAY GROUP LTD. is a corporate entity registered with Accounting and Corporate Regulatory Authority which has a stake in OOWAY Technology Pte Ltd. OOWAY Group is an established big data, Artificial Intelligence (AI) and Blockchain technology provider of innovative solutions for the integration of cross-border trade. Its DIGIT platform (Digital Innovation of Global Integrated Trade) seamlessly integrates cross-border trade with all parties through all stages from initialization to conclusion. The use of AI enables the platform to collect and analyze data to recognize, predict and optimize the cross-border trade process for all parties involved. The use of Blockchain ensures transparency, traceability and immutability, and automatic updating of all documents in the cross-border trade process. www.ooway.comIssued by OOWAY Group Ltd.Media and Investors Contact:Email: query@oowayasia.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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EC Healthcare expects a record-high semi-annual sales volume in first half of FY23 of no less than HK$1.8 billion, Represents no less than 17% Y-o-Y increase ACN Newswire

EC Healthcare expects a record-high semi-annual sales volume in first half of FY23 of no less than HK$1.8 billion, Represents no less than 17% Y-o-Y increase

October 17, 2022
HONG KONG, Oct 17, 2022 - (ACN Newswire via SEAPRWire.com) - EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce that the Group expects to achieve a record-high semi-annual sales volume from April to September 2022 (the "Reporting Period").The demand on medical services provided by the Group remains strong and the Group's business demonstrate resilience and momentum backed by the Group's diversified business. The Board expects the Group to achieve a record-high semi-annual overall sales volume of no less than HK$1.8 billion for the Reporting Period, representing a no less than 17% y-o-y increase. The Group expects to achieve a no less than 30% y-o-y increase for medical services sales volume. Sales volume of other services rose by no less than 95% y-o-y, mainly driven by the acquisition of veterinary businesses. Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, EC Healthcare is always committed to building a diversified healthcare ecosystem to maximize customers' lifetime value. Hong Kong resident now progressively building a herd immunity barrier with a population the cumulative number of reported cases of 5th wave of COVID-19 has reached over 181 million, population completed the third vaccine dose was at approximately 80.2% as of 13 October 2022. The steady recovery in local consumer sentiment is expected to benefit the Group's business. Looking ahead, the Group is optimistic about its business development as the Hong Kong government's pandemic policy stance is heading towards "Normalization" and recently further relaxed quarantine arrangements for inbound travelers, further boosting the market sentiment. The Group will continue to expand its businesses through organic growth as well as mergers and acquisitions, leveraging investment in IT, brand and service to enrich the Group's enclosed diversified ecosystem. The Group will further enhance the resilience and ability to resist economic cyclical changes and further consolidate the healthcare market."About EC HealthcareEC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021For further information, please contact: iPR Ogilvy Limited Callis Lau / Lorraine Luk / Tim Tin / Sophia Wu Tel: (852) 2136 6952 / 2169 0467 / 3920 7654 / 3920 7645Fax: (852) 3170 6606 Email: ech@iprogilvy.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Samaiden Group Signs Partnership Agreement with Taiwan-based Monitoring Solution Provider Thingnario ACN Newswire

Samaiden Group Signs Partnership Agreement with Taiwan-based Monitoring Solution Provider Thingnario

October 14, 2022
PETALING JAYA, Malaysia, Oct 14, 2022 - (ACN Newswire via SEAPRWire.com) - Samaiden Group Berhad (Bursa: SAMAIDEN, 0223), a clean energy solution specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power, is pleased to announce that the Group's wholly-owned subsidiary, Samaiden Sdn Bhd, has signed a partnership agreement with Thingnario Ltd. today, to explore the opportunity in providing telemetry monitoring system support to the Renewable Energy (RE) as well as the Energy Efficiency (EE) businesses of Samaiden Group within Malaysia.Mr. Fong Yeng Foon，Executive Director of Samaiden Group Berhad; IR Chow Pui Hee, Group Managing Director of Samaiden Group Berhad; Mr. Andy Hong Min Ping, Regional Manager, South Asia, of Thingnario Ltd; Mr. Lin Han Ting, Regional Manager, South Asia, of Thingnario Ltd [L-R]Artificial Intelligence (AI) based system provider, Thingnario, is a company founded in 2016 and headquartered in Taipei, Taiwan. It owns the "Photon" intelligent solar monitoring system that has successfully served 3,500 sites with an aggregate capacity of 1.5GW across 10 countries in 2022.Group Managing Director of Samaiden, Ir. Chow Pui Hee said, "We're looking forward to the collaboration with Thingnario for the excellence it gives to our Operation and Maintenance (O&M) works. As part of the Group's digitalisation plan, we strongly believe the support from Thingnario can facilitate our transformation in this area smoothly. We're very optimistic that we can provide effective and efficient solutions to our customers for performance optimisation and improve their return of investment."Chief Operating Officer of Thingnario, William Kao said, "We are looking forward to working with Samaiden to provide businesses with a technology that can help them manage plant operations and maintenance more efficiently without the hassle. More importantly, we are confident that our software will play a vital role in addressing Samaiden's needs in a world where AI, Internet of Things and machine learning is assisting in every aspect of business and life."In order to align the direction of the Group, Samaiden recently launched the Samaiden Energy Efficiency Solutions named "SEE" Solutions in conjunction with the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) event held from 12-14 October 2022 at KLCC Convention Centre as the Group embarks on its Energy Efficiency business. SEE Solutions is a program mainly focusing on energy saving measures to reduce the electricity consumption by the commercial & industrial owners. SEE Solutions consists of two pillars of solutions which are Energy Assessment and Energy Optimisation. The purpose is to assist business owners to identify the major and minor consumption in their premises. By unlocking the awareness on energy consumption, the potential energy savings in premises will also be unlocked via implementation of the SEE Solutions.Samaiden Group Berhad: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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OOWAY Group Seeks to Appoint New Board to Turn Around Kitchen Culture ACN Newswire

OOWAY Group Seeks to Appoint New Board to Turn Around Kitchen Culture

October 12, 2022
SINGAPORE, Oct 12, 2022 - (ACN Newswire via SEAPRWire.com) - OOWAY Group Ltd, the single largest shareholder, together with 7 other shareholders[1] of Kitchen Culture Holdings Ltd. has on 30 September 2022 informed the Company's Board of the intention to convene an extraordinary general meeting of the Company (EGM) pursuant to Section 177 of the Companies Act[2].The upcoming EGM seeks to remove 5 of the current Kitchen Culture's Board of Directors and appoint 5 new members to the Board. Reference SGXNET 30 Sep 2022: https://tinyurl.com/mr5pxncrReasons for Calling for EGM OOWAY Group emphasises that without a change in the current Kitchen Culture board, the value of Kitchen Culture's 27.65% stake in OOWAY Technology Pte Ltd (which is its most valuable asset) would be unrealised and ultimately wasted.OOWAY Group reiterates that the implementation of a long-term and viable business plan for OOWAY Technology is the only path available now for the resumption of trading in Kitchen Culture shares, and ultimately a share price that would reflect its fundamentals.Mr Liu Yanlong, representative for OOWAY Group, said, "With OOWAY Group's existing and new business capabilities in Big Data Analytics and Artificial Intelligence, we were excited at the prospect of working closely with Kitchen Culture in line with their diversification strategy and OOWAY Group's expansion in the ASEAN region.However, we have witnessed the gradual erosion of the Company's core values and business prospects and have reluctantly taken this step, in order to protect our interests and the interests of other minority shareholders. The current suspension of Kitchen Culture shares, is a definite concern of all shareholders of the Company.We believe that replacing the current board with the proposed new Directors, who bring with them the necessary experience, expertise and energy to help reverse Kitchen Culture's present trajectory, is the only way forward."Mr Liu, added: "The indisputable fact is this: OOWAY Technology is Kitchen Culture's most valuable asset. Since the time of the acquisition till the present, OOWAY Group has continued to forge new business, break new ground, and grow the company through massive investment in technological capabilities and talented individuals.While we are greatly disappointed in what has transpired at Kitchen Culture, we still hold on to the belief that the Company can and will turn around once we have a new and highly capable management with integrity, transparency and vision in place and we will work hand-in-hand with them to ensure that Kitchen Culture become stronger than before."EGM AgendaAt the upcoming EGM on a date yet to be confirmed, 2 main agenda items among others to be raised are:1. Removal of the following 5 Directors at the EGM should they not voluntarily resign before 5pm on 14 October 2022:a. Mr. Lau Kay Hengb. Mr. Lim Wee Lic. Mr. William Teo Choon Kowd. Mr. Ang Lian Kiat and e. Mr. Peter Lim King Soon2. Appointment of the following individuals to the Board:a. Mr James Beeland Rogers, Jr. to be appointed as a Non-Executive Director of the Company; b. Mr Yip Kean Mun to be appointed as an Executive Director of the Company; c. Mr Lam Kwong Fai to be appointed as an Independent Director of the Company; d. Mr Tan Meng Shern to be appointed as an Independent Director of the Company; and e. Mr Cheung Wai Man to be appointed as an Independent Director of the Company. BackgroundKitchen Culture had been suffering from recurring losses and negative operating cash flow from its core business as a kitchen solutions provider for 8 years at the time of the acquisition by OOWAY Group.In August 2020, Kitchen Culture entered into a sale and purchase agreement and a shareholder's agreement with OOWAY Group to acquire a 30% equity stake in OOWAY Technology Pte. Ltd. at a purchase consideration of S$23.92 million to be satisfied by way of the allotment and issue of 90,000,000 new ordinary shares in the capital of Kitchen Culture at an issue price of S$0.2658 per ordinary share.At the time of the acquisition in 2020, it was envisaged that the combination of the newly-raised funds and OOWAY Technology's cutting-edge technologies as well as extensive business networks and capabilities would ring in a new era of growth and profitability for Kitchen Culture.The Relevant Shareholders have also informed the Kitchen Culture Board that prior to the conclusion of the EGM, the Company, including the current Directors of the Company, should not:1. Take any action to effect any casual appointment of Director(s) or action that will affect the number of existing issued shares of the Company or carry out any corporate action that is dilutive in nature to the minority shareholders of the Company.2. Carry out any transaction that would result in the divestment or acquisition of any business interest or asset for or on behalf of the Company. 3. Enter into any transaction committing or exposing the Company to any potential liability of a significant nature. SGXNET References:- 12 April 2022: General Announcement::UPDATE ON REVIEW BY BAKER TILLY CONSULTANCY (SINGAPORE) PTE. LTD. https://tinyurl.com/48fwfsfx- 21 April 2022: General Announcement::ASSISTANCE IN THE REVIEW BY THE COMMERCIAL AFFAIRS DEPARTMENT https://tinyurl.com/2p8hfrdt[1] "Relevant Shareholders" refers to OOWAY Group Ltd., Koh Cher Chow, Lin Xiao Long, Ling Chui Chui, Koh Ngin Joo, Lim Cheng Huat, Chew Yu Sheng and Soh Koon Eng.[2] Section 177 Notice constituting a special notice under Section 152(2) read with Section 185 of the Companies Act 1967 of Singapore (the "Companies Act") of the intention of the Relevant Shareholders to convene an extraordinary general meeting of the Company (the "EGM") pursuant to Section 177 of the Companies Act.About OOWAY Group Ltd.OOWAY GROUP LTD. is a corporate entity registered with Accounting and Corporate Regulatory Authority which has a stake in OOWAY Technology Pte Ltd. OOWAY Group is an established big data, Artificial Intelligence (AI) and Blockchain technology provider of innovative solutions for the integration of cross-border trade. Its DIGIT platform (Digital Innovation of Global Integrated Trade) seamlessly integrates cross-border trade with all parties through all stages from initialization to conclusion. The use of AI enables the platform to collect and analyze data to recognize, predict and optimize the cross-border trade process for all parties involved. The use of Blockchain ensures transparency, traceability and immutability, and automatic updating of all documents in the cross-border trade process. www.ooway.comIssued by OOWAY Group Ltd.Media Contact: Email: query@oowayasia.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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MHI Group to Participate in Vehicle-to-Infrastructure (V2I) Demonstration Test Program to Support Autonomous Highway Driving JCN Newswire

MHI Group to Participate in Vehicle-to-Infrastructure (V2I) Demonstration Test Program to Support Autonomous Highway Driving

October 6, 2022
TOKYO, Oct 6, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Heavy Industries, Ltd. (MHI) and two Group companies -- Mitsubishi Heavy Industries Machinery Systems, Ltd. (MHI-MS) and Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG) -- will participate in demonstration testing of a vehicle-to-infrastructure (V2I) system(1) to be conducted in FY2023 using a section of the Shin-Tomei Expressway (numbered E1A) currently under construction by Central Nippon Expressway Company Limited (NEXCO-Central). MHI Group will apply its diverse technologies in the test program and perform oversight of the V2I system, in preparation toward realizing tomorrow's automated driving society, especially as it relates to highway driving.Conceptual Image. Information in the forward direction undetectable by the onboard unit of an autonomous vehicle following another vehicle is transmitted to the rearward vehicle by V2I.MHI-MS was selected to take part in the demonstration testing project, which is operated by NEXCO-Central, in an open call for participants. MHI-MS applied jointly with Spectee Inc., a company that undertakes risk visualization using artificial intelligence (AI) and other state-of-the-art technologies. The demonstration testing will be carried out in a section, approximately 4 kilometers long, of E1A within Shizuoka Prefecture, part of the new expressway, not yet in service, stretching from the Shin-Hadano Interchange in Kanagawa Prefecture to the Shin-Gotemba Interchange in Shizuoka.The testing will demonstrate three core functions: 1) provision, by V2I, of information on road obstacles in the forward direction to an autonomously driven vehicle behind, whose onboard sensors are incapable of detecting such forward information; 2) provision of optimal speed information, according to the given road conditions and driving environment; and 3) provision of coupling information enabling autonomous vehicle platooning according to the destination. MHI Group will contribute to the project by providing MHI-MS's road traffic sensors and communication technologies cultivated through its experience with expressway toll collection system and road pricing system for urban zones, and MHIENG's expertise accrued from its track record in integrating safe railway systems through cooperation between wayside and onboard systems.Provision of data on forward driving conditions to a vehicle behind will enable the driver in the rear to recognize danger early and take precautionary action without excessive urgency, thereby contributing to fewer traffic accidents. Ability to follow closely behind another vehicle called platooning reduces air resistance and saves energy, and availability is enhanced by matched support via V2I communication. Even when rates of adoption of automated vehicles or connected cars with ICT unit functions are low in the context of total vehicle traffic, these V2I technologies can be used to provide real-time road traffic and safety information. They are thus expected to be of advantage to all vehicle traffic, by reducing traffic accidents and enabling more advanced road management.Today, as the shift to "CASE" vehicles(2) revolutionizes the automotive industry, the quest for improved safety, higher efficiency, and a lighter environmental footprint remains unchanged. The vision for the future of automobiles meshes perfectly with the MHI Group initiatives for sustainability. Today, as part of its 2021 Medium-Term Business Plan's growth strategy, the Company is working to develop solutions businesses in smart social infrastructure, in order to realize a carbon neutral society, and the NEXCO-Central project is one of various initiatives being taken to create infrastructure supporting the shift to CASE vehicles. Through participation in the demonstration testing program, MHI Group will input its comprehensive capabilities cultivated through its long years of building transportation infrastructure, and going forward the Company will seek to realize a society of autonomous driving enabled by advances in AI and digitalization.(1) Vehicle-to-infrastructure (V2I) systems use wireless communication to connect "connected" vehicles having ICT functions and related infrastructure components.(2) "CASE" is an acronym derived from the words "connected," "autonomous," "shared" and "electric." It refers to the current technological trend in the automotive industry to create next-generation mobility services offering outstanding safety and convenience.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Mitsubishi Power Receives Order for H-25 Gas Turbine for Taiwan’s Chang Chun Plastics JCN Newswire

Mitsubishi Power Receives Order for H-25 Gas Turbine for Taiwan’s Chang Chun Plastics

October 6, 2022
TOKYO, Oct 6, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), has received an order for an H-25 gas turbine for the Taiwanese firm Chang Chun Plastics Co., Ltd. The turbine with 30-megawatt (MW) output capacity will be the core of a new high-efficiency, natural gas-fired cogeneration (combined heat and power) facility at the company's Dafa Factory in Kaohsiung. Operation is scheduled to begin around winter 2023, with the unit supplying power for the company's factories, and steam for manufacturing processes. This is the first H-25 gas turbine that Mitsubishi Power has supplied in Taiwan.H-25 Co-generation Power PlantChang Chun Plastics' Dafa Factory is located in an industrial park east of downtown Kaohsiung City (Daliao District). The gas turbine will replace the existing oil and coal-fired boiler facility, part of a project conducted in response to a request from the Kaohsiung authorities to reduce coal consumption based on the global trend toward reducing CO2 emissions, and a shift in Taiwan's energy policy.Mitsubishi Power will supply the H-25 gas turbine and auxiliary machinery, and dispatch engineers to provide support for installation and trial operations.Chang Chun Plastics is the core company of Chang Chun Group, a major petrochemical conglomerate in Taiwan. Headquartered in Taipei, Chang Chun Group comprises numerous group companies and factories in Taiwan and around the world.Since 1984, Mitsubishi Power has supplied Chang Chun Group with major equipment for the power and cogeneration facilities at its factories, including nine steam turbines and five boilers. Mitsubishi Power continues to provide after-sales service for the equipment it has supplied, as well as various types of service solutions. This latest order is a reflection of the trust established by this track record, and the long-standing good relations between the two companies. In addition, Chang Chun Group plans to introduce additional gas turbines in the future, and has concluded a forward-looking Frame Agreement with Mitsubishi Power for delivery of a total of four H-25 gas turbines, including the one for this project.The H-25 is a heavy-duty gas turbine(Note) with outstanding reliability confirmed by its record of long operating hours. Since the initial order in 1987, Mitsubishi Power has established a solid track record of operating performance, selling more than 190 units in Japan and overseas. Compared to a conventional boiler type cogeneration plant, the H-25 contributes to greater plant efficiency and reduced CO2 emissions. It is a powerful tool for the energy transition, as the market for distributed power sources shifts from coal to natural gas, and eventually to hydrogen fuel.Going forward, Mitsubishi Power will further proactively pursue business activities in the distributed power sources market, including for industrial-use private power generation and cogeneration systems in Japan and overseas, contributing to stronger industrial foundations for countries and regions, and reducing the environmental load from energy.*Heavy-duty gas turbines are designed to maintain steady output over long-term, continuous operation, providing exceptional reliability, as well as easier and less frequent maintenance.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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