Singapore International Water Week Pte Ltd and Messe München join hands in a long-term partnership to organize the Singapore International Water Week ACN Newswire

Singapore International Water Week Pte Ltd and Messe München join hands in a long-term partnership to organize the Singapore International Water Week

February 16, 2023
MMI Asia Pte. Ltd. awarded a 10-year agreement to organize the Singapore International Water Week (SIWW) Water ExpoPartnership introduces Messe München’s IFAT to Southeast Asia through SIWW which will propel its growth to a new levelPreparations are already underway for the new partnership, commencing from SIWW2024 which will take place from 18 to 22 June 2024Singapore, Feb 16, 2023 - (ACN Newswire via SEAPRWire.com) - Singapore International Water Week Pte Ltd (SIPL) and Messe München’s wholly owned subsidiary in Singapore, MMI Asia Pte. Ltd. (MMI Asia), have announced a long-term, 10- year agreement to organize the SingaporeInternational Water Week (SIWW) Water Expo, one of the global premier water events.A cornerstone of SIWW, theWater Expo is the pre-eminent marketplace for the latest urban water technologies, innovation, and solutions formunicipal and industrial water users in Asia. Under this 10-year agreement from 2023 to 2032, MMI Asia will organizefive editions of the SIWW Water Expo and support SIPL in developing high-quality and impactful content at the show,tapping into the significant influence of the world’s largest and leading environmental technology platform IFAT.SIPL’s Managing Director, Ryan Yuen, shakes hands with Stefan Rummel, Managing Director of the CEO dual leadership, Messe München, to signify the joining of hands in a long-term partnership for the Singapore International Water WeekSIWW2022 Water Expo, the first large-scale in-person event to take place in Singapore since the COVID-19 pandemic, featured 250 exhibitors, including 13 country/ regional and thematic pavilionsAt SIWW2022, key topics such as climate mitigation and adaptation, resource circularity, net zero and decarbonisation were discussed to spur innovation and share sustainable solutions and best practicesSIPL’s Managing Director, Ryan Yuen said: “We are pleased to partner with Messe München who brings a unique value proposition that complements our long-term vision for SIWW. Through the IFAT global network, we look forwardto reaching a wider international audience, creating more business opportunities, and showcasing innovative watersolutions and products to water agencies and the industry. MMI Asia will also work with us to expand SIWW into newgrowth areas, such as coastal protection, decarbonization and digitalization, to fortify our position as a leading global event on water innovation and climate action.”International business is a driving force for Messe München. For years, the company has been successfullyexpanding its portfolio around strong leading trade fairs worldwide. “As part of our strategic orientation, we are alsocontinuously expanding the company in Singapore and developing our event formats further. The new cooperationwith SIWW represents an important milestone in this strategy,” said Stefan Rummel Managing Director of the CEO dual leadership. “Our subsidiary MMI Asia with its local presence in Singapore plays an important role in drivingMesse München’s internationalization course in Southeast Asia, which the latest success proves.”In addition to organizing the SIWW Water Expo, MMI Asia and its partner, MP Singapore, will also be providing event management services for SIWW Spotlight 2023 and SIWW2024 to deliver a seamless delegate experiencefor the two events.Michael Wilton, CEO & Managing Director of MMI Asia, explained: “We are delighted to have the opportunity towork together with SIPL on the Singapore International Water Week, an event that has an enormous influencebeyond Southeast Asia. It complements perfectly Messe München’s expertise and know-how in this vital sector for Singapore and the rest of the region. We are committed to providing a first-class experience for the industry andtogether with the power of IFAT bring extra value to the key topics facing the region today.”Katharina Schlegel, Exhibition Director IFAT and bauma shows, elaborated: “This cooperation is another significant part in the global IFAT network, which will now be represented through SIWW in the increasingly important regionof Southeast Asia. As the gateway to Southeast Asia, Singapore and SIWW will complement our four IFAT tradefairs in China, such as IE expo China. I am convinced that there will be immense synergy effects here for the Asianregion, but the IFAT network in general will also benefit from this in the short and medium term.”Preparations for SIWW Spotlight 2023 and SIWW2024 are already underway. Applications for exhibition space at the SIWW2024 Water Expo will open soon. Companies who are keen to exhibit are encouraged to contact MMI Asia early.Singapore International Water WeekSingapore International Water Week (SIWW) is a global premier platform to share and co- create innovative watersolutions to meet urban water challenges. As one of the leading global water events, the biennial SIWW delivers arange of flagship programmes and platforms that gathers stakeholders from governments, utilities, academia, andindustry to share best practices and solutions, showcase the latest technologies and harness businessopportunities. The 10th Singapore International Water Week will be held from 18 to 22 June 2024.To find out more:Follow us on www.linkedin.com/company/siww and https://twitter.com/WaterWeekSG Like us at www.facebook.com/siww.com.sgVisit our website at www.siww.com.sgSingapore International Water Week Pte LtdSingapore International Water Week Pte Ltd is a company set up by PUB, Singapore's National Water Agency and Singapore's Ministry of Sustainability and the Environment, as part of the strategic programme of the SingaporeGovernment to grow the water industry and develop water technologies.IFAT worldwideMesse München not only demonstrates its considerable expertise in organizing environmental technology tradeshows with the world’s leading trade fair IFAT Munich. Other international events include IE expo China in Shanghai, IE expo Chengdu in Chengdu, IE expo Guangzhou in Guangzhou, IE expo Shenzhen in Shenzhen, IFAT Africa inJohannesburg, IFAT Eurasia in Istanbul, IFAT India in Mumbai, and IFAT Delhi in New Delhi. Together, the eight IFATevents form the world’s leading network for environmental technologies.Messe MünchenMesse München is one of the leading exhibition organizers worldwide with more than 50 of its own trade shows forcapital goods, consumer goods and new technologies. Every year, a total of over 50,000 exhibitors and around threemillion visitors take part in more than 200 events at the exhibition center in Munich, at the ICM – InternationalesCongress Center München, the Conference Center Nord and the MOC Veranstaltungscenter München as well asabroad. Together with its subsidiary companies, Messe München organizes trade shows in China, India, Brazil,South Africa and Turkey. With a network of associated companies in Europe, Asia, Africa and South America as wellas around 70 representations abroad for over 100 countries, Messe München has a global presence.For more information please contact:Fulvia WongSingapore International Water Week Pte LtdEmail: info@siww.com.sgMichael WiltonMMI AsiaEmail: Michael.wilton@mmiasia.com.sgExhibition ContactYan WangMMI AsiaEmail: Yan.wang@mmiasia.com.sg Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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JCB Reaches One Million Rupay JCB Card Issuance Mark in India JCN Newswire

JCB Reaches One Million Rupay JCB Card Issuance Mark in India

February 13, 2023
TOKYO, Feb 13, 2023 - (JCN Newswire via SEAPRWire.com) - JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan's only international payment brand, today announced issuance of one million Rupay JCB Cards in India. These credit and debit cards, issued by 12 public and private sector banks and co-badged as RuPay JCB Cards, offer their cardmembers a seamless payment experience within and outside India.Along with the 3-fold growth in card issuance, a significant growth in Rupay JCB Card usage was also seen with international spending growing 8-fold between April 2022 to December 2022. This is expected to further grow rapidly given the extremely lucrative international campaign currently available for RuPay JCB cardmembers. All RuPay JCB cardmembers are eligible for a whopping 40% cashback on face-to-face transactions in Singapore, Thailand and Bahrain. The maximum cashback amount per transaction is 3,000 INR and maximum cashback amount per one card is 15,000 INR within the campaign period. The current campaign started on December 29, 2022 and will conclude on March 31, 2023.This is the second such campaign as RuPay JCB just concluded a similar 40% cashback campaign in UAE, Qatar and Australia. The offer was on face-to-face transactions from October 1 to December 31, 2022. This campaign has also successfully increased the number of transactions and was well appreciated by bank issuers and cardmembers.In addition to this, there are multiple on-going offers across countries in different categories such as retail store, restaurant, hotel and transport.Mr. Yoshiki Kaneko, President & COO, JCB International Co., Ltd. said, "We are very proud of our strategic partnership with NPCI. This first million Rupay JCB issuance milestone is a testament to the strength of our partnership which will continue to grow in the coming years. India is a key market for JCB with huge potential given the aspirational young and vibrant base of consumers who especially enjoy international travel and new experiences. We are confident the feature-rich RuPay JCB Card, which offers many international benefits to its cardmembers including international airport and JCB PLAZA Lounge access, besides many special offers, discounts, and cashbacks that saves our cardmembers' money, will be well enjoyed outside India. We will continue to focus on and invest in growing the India business through our esteemed partner, NPCI, to ensure that our issuing partners always have access to the best-in-class technology to create path-breaking products."About JCBJCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 41 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 150 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/ ContactAyaka NakajimaCorporate CommunicationsTel: +81-3-5778-8353Email: jcb-pr@jcb.co.jp Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)
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Dusit International appoints Makoto Yamashita to spearhead hotel openings in Kyoto, Japan ACN Newswire

Dusit International appoints Makoto Yamashita to spearhead hotel openings in Kyoto, Japan

February 2, 2023
BANGKOK, Feb 2, 2023 - (ACN Newswire via SEAPRWire.com) - Dusit International, one of Thailand's leading hotel and property development companies, has appointed Mr Makoto Yamashita as pre-opening General Manager of ASAI Kyoto Shijo and Area GM - Kyoto, Japan. Makoto YamashitaDusit Thani KyotoASAI Shijo KyotoMarking an important milestone in Dusit's ongoing global expansion, the 114-key ASAI Kyoto Shijo is one of two Dusit-branded properties set to debut in Japan this year. It is scheduled to soft open in June 2023, followed by Dusit Thani Kyoto, Japan, in September 2023.With more than three decades of marketing and operational experience behind him, Mr Yamashita has worked in corporate and property roles for renowned brands in his native Japan. This includes more than 10 years working as Assistant Manager - Marketing at the Corporate Headquarters of JAL Hotels (now Okura Nikko Hotels Japan), followed by stints leading well-known properties under Starwood Hotels & Resorts (now Marriott International) and Mori Trust Hotels & Resorts.Among the positions he held with Starwood in Japan are Director - Global Sales (2006-2010); Director of Sales & Marketing at Sheraton Hiroshima Hotel (2010-2012); Director of Sales & Marketing at The St. Regis Osaka (2012-2016); Executive Assistant Manager at The St. Regis Osaka (2016-2017); and Cluster General Manager of Tokyo Marriott Hotel and Courtyard by Marriott Tokyo Station (2018-2020).Prior to joining Dusit, Mr Yamashita was Area General Manager of Mori Trust Hotels & Resorts in Tokyo and Nagano. Here, he oversaw the introduction of new digital systems and operational processes that helped enhance the properties' efficiency and profitability. As General Manager of ASAI Kyoto Shijo and Area GM - Kyoto, Mr Yamashita is responsible for spearheading the opening of ASAI Kyoto Shijo and Dusit Thani Kyoto and ensuring both properties meet their financial and operational objectives."I am delighted and honoured to introduce Dusit's unique brand of Thai-inspired gracious hospitality to Japan for the first time at these unique and exciting properties," said Mr Yamashita. "I look forward to leveraging my own experience, and the expertise of my team, to deliver meaningful and memorable experiences that delight our guests and customers, position each hotel for sustainable success, and set a strong foundation for Dusit's further expansion in Japan."About Dusit International Established in 1948, Dusit International or Dusit Thani Public Company Limited (DUSIT) is a leading hospitality group listed on the Stock Exchange of Thailand. Its operations comprise five distinct yet complementary business units: hotels and resorts, hospitality education, food, property development, and hospitality-related services.The group's portfolio of hotels, resorts and luxury villas includes more than 300 properties operating under a total of six brands (Dusit Thani, Dusit Devarana, dusitD2, Dusit Princess, ASAI Hotels, and Elite Havens) across 16 countries worldwide. The group also operates culinary schools and hospitality colleges in Thailand, plus catering companies for the education sector in Thailand, Cambodia, and Vietnam.Dusit International's diversified investments in real estate development, hospitality-related services, and the food sector are part of its long-term strategy for sustainable growth, which focuses on three key areas: balance, expansion and diversification. For more information, please visit dusit-international.comFor more information, please contact:Sureerat Sudpairak | Corporate Director of Public Relations | Dusit InternationalTel: +66 (0) 2200 9999 ext. 3321 | Mobile +66 (0) 89 006 8697 | Email: sureerat.sp@dusit.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Decentralized Art Financial Platform ‘Art de Finance’, Partners with Incheon Airport Art Hub Consortium ‘ARSHEXA’

January 25, 2023
Zug, Switzerland, January 25, 2023 - (SEAPRWire) - Art de Finance, a decentralized art financial platform, announces its partnership with the ARSHEXA Corporation Limited which has the Incheon airport art storage project underway on Dec 27. With its headquarters in Zug, Switzerland, Art de Finance is a platform that transforms physical art into NFT and evaluates art NFT through its decentralized mechanism. The company has announced it will be providing services such as trading and linking with decentralized financial service (DeFi) through its platform via priced physical art NFT. Through this partnership and with the completion of the art hub storage project in 2026, Art de Finance's art pieces will be stored in the Incheon airport's storage space in the near future. Art storage space maintains consistent temperature and humidity perfect for preserving high-value artwork and protects artwork from any physical threat. ARSHEXA Corporation Limited's Incheon airport art storage project is valued at 400 Million USD and the amount of investment and the size of the storage have been known to be the largest of its kind. Major international airports around the world are striving to establish culture and art-related services and facilities and are strategizing to secure growth opportunities in art businesses. Incheon International Airport is also planning to establish itself as a culture and art-focused airport with its introduction of art storage facilities. Currently, art storage facilities only exist in four major cities in the world: Singapore Changi Airport's 30,000㎡ Le Freeport, Luxemburg Findel Airport's 22,000㎡ High-Security Hub, and Switzerland's Geneva Airport's 10,000㎡ Ports Francs. The art storage facility that ARSHEXA is building is the largest in the world with a total surface area of 83,228㎡ spanning the first lower level and the fourth upper level. With its cost estimated at 379.5 billion won, the facility will take place on the west side of the Incheon International Airport spanning 43,669㎡ , and will be finished by 2026. Experts predict with the completion of the art storage facility in the Incheon International Airport, the majority of the artwork based in Hong Kong will turn to Incheon via Hexit (Hongkong+Exit). Hong Kong is Asia's largest art market and with its entire city designated as a free trading port, art customs clearance enjoys relatively lax regulations. Art trading corporations such as Sotheby's and Christie's with large influence over Hong Kong's art market have their own storage facilities in various parts of Hong Kong to maintain their assets. However, an industry representative spoke that in recent years, China's influence over Hong Kong has become increasingly overt and this has led to uncertainty surrounding the anonymity and security of high-value art storage. Predictions have been made that Incheon will become the international art hub as Japan possesses the risk of earthquakes and this is considered more perilous than South Korea's proximity to North Korea. "This partnership is crucial to Art de Finance's physical art storage and security," said an Art de Finance spokesperson. "There has been an endless controversy surrounding digital NFT and their physical form and their price volatility have also been an issue in the past. We plan to provide a curating system so physical art can be transformed into NFT at an appropriate price point to provide a solution to NFT price volatility and contribute to the NFT market's growth along with an art market." Art de Finance provided technical support for Busan City's official marketplace operation throughout the Busan Blockchain Week Event last September. Through this partnership, Art de Finance announced it will aid ARSHEXA Corporation Limited's blockchain-related services with its technological capabilities. Social Links: Telegram: https://t.me/artdefinancechat Twitter: https://twitter.com/ArtdeFinance Medium: https://medium.com/@Art_de_Finance Discord: https://discord.com/invite/artdefinance Instagram: https://www.instagram.com/Art_de_Finance/ Media Contact: Brand: Art de Finance Contact: Henry kim Website: https://www.artdefinance.io/ SOURCE: Art de Finance The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)
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Infocus International Brings Back Public-Private Partnerships In-Person Course in Singapore ACN Newswire

Infocus International Brings Back Public-Private Partnerships In-Person Course in Singapore

January 25, 2023
Singapore, Jan 25, 2023 - (ACN Newswire via SEAPRWire.com) - The Public-Private Partnership (PPP) workshop is back for 2023 in Singapore. Infocus International is delighted to bring one of their best events to professionals from all around the world and it will be commencing on 6th February 2023 in Singapore.We need new infrastructure. Roads, airports, schools, hospitals and housing: the list is enormous and growing. Yet severely limited budgets, economic uncertainty caused by volatile commodity prices, and deficits continue to prevent government at all levels from delivering the kinds of structural change that has always been needed.In response, some countries have developed relatively successful PPP programmes - similar in many ways yet with specific national characteristics. Challenges remain throughout each region and are intensifying in the current environment. Merely grasping the concepts of PPP does not do justice to our great responsibility of having an ownership in the country's future. We already know what we need to do, now is the time to really discover HOW. Beginning with an in-depth understanding of how PPPs work, from financial, commercial, project & legal aspects, we seek to push our participants to innovate with real life case studies, group discussions and technical evaluation.One of our past participants from Electricity Generation Company (Malawi) Ltd shared that, "The facilitator was very knowledgeable on the subject matter, very responsive to questions and innovative in the delivery of the PPP training program. The knowledge gained will assist me in productive participation in ongoing and planned PPP Projects in my country."Another past participant from PNG Ports Corporation also mentioned that, "This is an excellent course for anyone involved in PPP. Highly recommended."Benefits of Attending:- Use best practices from international case studies of successful PPP transactions and common practical pitfalls to avoid- Design and manage PPP legal, regulatory & institutional frameworks to attract investors and complete PPP transactions- Apply models for the efficient design and completion of PPP feasibility studies- Understand project financing requirements and evaluate PPP financial models for both affordability and bankability- Evaluate and apply different credit enhancement techniques to ensure PPP bankability, including blended financing, viability gap funding (VGF), partial guarantees, risk insurance products, output-based aid (OBA) and other financial instruments- Design PPP transaction implementation plans and manage & oversee PPP transaction advisors for reaching commercial closure and financial closure- Models for PPP tender documents, including PPP Project Information Memoranda ("InfoMemos"), Requests for Qualifications (RFQs), Requests for Proposals (RFPs) - International models for designing and drafting PPP contracts & agreements- Environmental & social impact mitigation techniques to structure sustainable private investments in public infrastructure- Plans for managing sustainable PPP contracts including ensuring technical performance, quality of service delivery, price review & adjustment regulatory models, legal contract management and alternative dispute resolution (ADR) techniquesWant to learn more?Simply email to esther@infocusevent.com or call +65 6325 0210 to register your attendance. For more information, please visit https://www.infocusinternational.com/pppAbout Infocus International GroupInfocus International is a global business intelligence provider of strategic information and professional services for diverse business communities. We recognises clients' needs and responds with innovative and result oriented programmes. All products are founded on high value content in diverse subject areas, and the highest level of quality is ensured through intensive and in-depth market research from local and international insights. For more information: www.infocusinternational.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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NBB and JCB Enable the Acceptance of JCB Cards Through its POS & E-Commerce Merchants in The Kingdom of Bahrain JCN Newswire

NBB and JCB Enable the Acceptance of JCB Cards Through its POS & E-Commerce Merchants in The Kingdom of Bahrain

January 23, 2023
MANAMA & TOKYO, Jan 23, 2023 - (JCN Newswire via SEAPRWire.com) - The National Bank of Bahrain (NBB) and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan's only international payment brand, have signed an agreement to enable JCB payment acceptance at the bank's POS and e-commerce merchants in the Kingdom of Bahrain. The signing ceremony was recently held at NBB Headquarters in the presence of NBB and JCB representatives.The partnership with JCB, will provide cardholders from mainly Asian markets with greater convenience, allowing them to enjoy the usage of their JCB Cards at all NBB merchant outlets across the Kingdom. This falls in line with NBB's promise of remaining 'Closer to You', and follows its commitment to improve accessibility and provide existing and new customers with easy access to its services.Commenting on the partnership, Hisham AlKurdi, Group Chief Executive - Corporate & Institutional Investment Banking at NBB, said: "We are pleased to partner with JCB to provide JCB's cardholders with the convenience of using their JCB Cards through NBB's banking channels. This partnership is a step forward to increase JCB Card acceptance in the Kingdom through NBB POS and Payment Gateway channels as well as strengthening cross-country relations, improving accessibility and enhancing branch capability to better reach all citizens and residents for a more enhanced service."On his end, Mr. Yoshiki Kaneko, President and COO of JCB International Co., Ltd., said: "The Kingdom of Bahrain is very important for our cardholders as a travel destination, as well as for JCB as there is a local cardmember base in the region. We are delighted that we have entered into this partnership with the National Bank of Bahrain, one of the largest banks and most prominent locally owned institutions in the region, for the acceptance of JCB Cards. This partnership will enhance our offering for convenience of cardholders in the Kingdom and cater for both the business and touristic needs of our cardholders worldwide."This partnership falls in line with NBB's commitment to simplifying the customer journey through personalisation and convenience, making clients' daily lives easier, and fortifying relations with global institutions across the world.JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan with more than 150 million cardholders. Its acceptance network includes about 41 million merchants around the world. JCB is the only international payment brand based in Japan, offering high quality payment solution and technologies that are trusted worldwide.About JCBJCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 41 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 150 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/ JCB ContactAyaka NakajimaCorporate CommunicationsTel: +81-3-5778-8353Email: jcb-pr@jcb.co.jp Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)
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Fosun International Expects One-off Negative Impact to be Cleared and Businesses to Bound Back in 2023

January 21, 2023
HONG KONG, Jan 21, 2023 - (ACN Newswire via SEAPRWire.com) - On 20 January 2023, Fosun International Limited ("Fosun International" or "Fosun", HKEX: 00656) issued a profit warning announcement on the Hong Kong Stock Exchange, mentioning that based on the information available to the Board and the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2022, Fosun International's revenue in 2022 is expected to increase by approximately 10% compared to that of 2021. However, due to the recurrent outbreak of COVID-19 pandemic in 2022 and the turmoil and downturn of the international capital markets, which resulted to an increase in business costs and an increase in floating losses in secondary capital market investment, Fosun International's overall industry operations and industrial investment have been affected to varying degrees, thus the profit attributable to owners of the parent in 2022 is expected to be not more than approximately RMB2 billion.The announcement also pointed out that with the gradual return to normalization of international trade and commerce in 2023, the Company's management expects to see recovery of its businesses. Looking ahead, the Company will further focus on the family-oriented consumer industry and continue to strengthen its global operations to provide quality products and services to families worldwide.Market analyst believes that as the "one-off" negative impact of the external environment clears, Fosun's continuous focus on the family-oriented consumer sector will usher in an important period of opportunity for business rebound in 2023. Since the beginning of the year, Fosun's main businesses centering on household consumption, such as Health, Happiness, and Wealth, have shown signs of strong recovery. It is worth noting that Fosun's forward-looking efforts in the anti-epidemic field have gradually borne fruit.The two flagships of Fosun's Happiness segment, Fosun Tourism Group and Yuyuan, and other businesses have shown strong signs of recovery. According to public information, when the domestic tourism industry suffered a huge setback in 2022, Fosun Tourism Group still stood firm to build global presence and opened seven new Club Med resorts throughout the year. According to market sources, Club Med's global bookings in the first half of 2023 have greatly exceeded the same period in 2019 before the pandemic. During the 2023 New Year holiday period, Atlantis Sanya, FOLIDAY Town Lijiang and other businesses in China all performed better than their respective pre-pandemic levels, and many Club Med resorts in China recorded close to 100% occupancy. During the 2023 New Year holiday period, the 2023 Yuyuan Garden Lantern Festival in the Grand Yuyuan attracted a large number of tourists. It is expected that the Spring Festival will further unleash consumption vitality.Taking the Health segment as another example, Fosun's anti-epidemic "vaccine and drug" products have attracted great attention from the market. On 19 December 2022, COMIRNATY(R), including the monovalent COVID-19 mRNA vaccine (BNT162b2) and the bivalent vaccine which can protect against the Omicron variant, was officially registered as a drug/product (biological product) in Hong Kong SAR. The self-paid vaccination service of COMIRNATY(R) bivalent vaccine was launched in Hong Kong SAR and vaccination is open to people including Mainland Chinese residents starting from 6 January 2023. After the self-paid vaccination service of COMIRNATY(R) monovalent COVID-19 mRNA vaccine has opened for non-local residents in Macau SAR last year, the COMIRNATY(R) bivalent vaccine was approved by Macao SAR as a regular imported vaccine on 20 January 2023, and people in need may receive a booster dose with prescription. As regards Azvudine, the oral medication for COVID-19, it is now included in the medical insurance scheme in 31 provinces, autonomous regions, and direct-administered municipalities across the country. In addition to tertiary hospitals and secondary hospitals, Azvudine has gradually covered grassroots medical institutions in many provinces. The accessibility of Azvudine has been greatly enhanced, helping the vast areas build a barrier against severe cases.As Guo Guangchang, Chairman of Fosun International, mentioned in his 2023 New Year's message, despite the headwinds of anti-globalization in 2022, Fosun is still a firm practitioner of globalization. In 2022, COMIRNATY(R) COVID-19 mRNA vaccine continued to provide an anti-epidemic barrier for Hong Kong SAR, Macao SAR and the Taiwan region; Club Med opened new resorts; Lanvin Group was successfully listed on the New York Stock Exchange. In the face of uncertainties, Fosun remained committed to technology and innovation in order to weather market cycles. HANQUYOU, independently developed by Henlius, was successfully launched in Australia after entering the European Union market; the registration application in the Chinese Mainland for the new indication of Yi Kai Da, China's first CAR-T cell therapy was officially accepted. Fosun attaches great importance to its development. No matter how policies and markets change, Fosun will always devote its best efforts.Fosun's solid fundamentals and recovery potential have been widely recognized by financial institutions and investors. On 16 January 2023, Shanghai Fosun High Technology (Group) Co., Ltd. ("Fosun High Technology"), the domestic operating entity of Fosun International, received a RMB12 billion syndicated loan from eight domestic banks. This is the largest private enterprise loan led by five major state-owned banks in cooperation with policy banks and joint-stock banks since the Central Economic Work Conference explicitly proposed in December 2022 to encourage and support the development of the private economy and private enterprises. Moreover, Fosun High Technology successfully completed bookbuilding for the RMB1 billion super & short-term commercial paper on 13 January 2023.Fosun's financing channels have been further expanded, and the financing costs have been further reduced, consolidating liquidity support for its business recovery. Recently, international rating agency S&P Global Ratings, and investment banks including Morgan Stanley and Daiwa Capital Markets have published research reports, expressing their optimism on Fosun.On 17 January 2023, S&P Global Ratings pointed out in a report that Fosun International's newly signed syndicate loan will largely cover onshore bonds due within a year. Fosun International's total debt at the holding company level could drop by 15%-25% in 2023 as the company continues to dispose assets and pay down matured bonds, thereby further improving its liquidity. S&P Global Ratings also noted that Fosun High Technology's successful issuance of the super & short-term commercial paper was Fosun's first issuance in the onshore market after a nine-month hiatus, marking a first baby step and indicating a recovery of the public bond market access. According to incomplete statistics, Fosun's return of capital from its asset reduction in 2022 has reached tens of billions of yuan, further consolidating its capital.On the same day, Morgan Stanley also issued a report commenting that Fosun's syndicated loan can further improve its liquidity, significantly helping lift market confidence in Fosun's stability. The firm believes that after several months of active deleveraging efforts, Fosun's liquidity risk has been greatly reduced. Looking ahead, the reopening of China will help boost fundamentals, especially in businesses such as tourism, retail, and investment.Previously, Nomura Orient International Securities, China Industrial Securities, and China International Capital Corporation (CICC) have published research reports, expressing their optimism about Fosun's strategy of streamlining the organization and focusing on its core businesses. Nomura Orient International Securities pointed out that Fosun has firmly promoted and focused on its core businesses in the family-oriented sector at the operational level. With the continuous optimization of China's epidemic prevention and control measures, the firm expects Fosun to achieve better performance. CICC believes that in the medium and long term, the valuation method of Fosun International is expected to gradually shift from using the NAV of the group to using the PE of the large consumer company. As a result, Fosun is expected to usher in a rise in the central level of long-term valuation.Based on Fosun's solid financial performance and strong potential for rebound, Morgan Stanley and Daiwa Capital Markets reiterated their "Overweight"/"Buy" rating on Fosun International. Nomura Orient International Securities, China Industrial Securities, and CICC have assigned Fosun International an "Overweight"/"Outperform" rating. Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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CITIC Telecom CPC Has a Rosy Start in 2023 with Multiple Distinguished Awards and Certifications ACN Newswire

CITIC Telecom CPC Has a Rosy Start in 2023 with Multiple Distinguished Awards and Certifications

January 19, 2023
HONG KONG, Jan 19, 2023 - (ACN Newswire via SEAPRWire.com) - CITIC Telecom International CPC Limited (CITIC Telecom CPC), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited ("CITIC Telecom", SEHK: 1883), has been well recognized for its dedication to upholding the motto "Innovation Never Stops", in-depth industry know-how and continuous innovation. At the start of the year, the company has won its first world-renowned honor at PTC Awards 2023 organized by Pacific Telecommunications Council (PTC). The team has been honored with "Outstanding Innovation or Transformation Award" for its AI-AR Remote Hand solutions. The company has further announced multiple certifications and innovation awards in recent months, which underscores its professionalism and global standards of services, products and technical talents, and the potential to be ranked as a world-class DICT service provider.Receives "Outstanding Innovation or Transformation Award" at PTC Awards 2023 Receives "Outstanding Innovation or Transformation Award" at PTC Awards 2023 Achieves CMMI Maturity Level 3 Certifications [Defined]Garners 3 accolades at the iFLYTEK AI Developer Competition 2022Mr. Brook Wong, Chief Executive Officer of CITIC Telecom CPC said, "We are very pleased that CITIC Telecom CPC has received multiple international awards and quality certifications for the continuous commitment and dedication of our team, which is also a testament to our innovative thinking and excellence in algorithms and computing. As a pioneer in innovation, we strive to accelerate development, elevate customer experience, optimize our professional and international innovative solutions, expand corporate customer businesses to grow our presence in different market segments, and unleash the limitless potential to create a digitalized and intelligent future with ICT-MiiND strategy and intelligent services."Distinguished awards and certifications won by CITIC Telecom CPC include:-- "Outstanding Innovation or Transformation Award" for the AI-AR Remote Hand solutions at Pacific Telecommunications Council's PTC Awards 2023-- "CMMI Maturity Level 3 Certifications [Defined]" verified by the CMMI Institute-- Won at the iFLYTEK AI Developer Competition 2022 hosted by iFLYTEK Co., Ltd., China Information Industry Association (CIIA) and National Intelligent Voice Innovation Center. 3 accolades namely Championship in the "Schedule Information Extraction of Email Notifications Challenge"Championship in the "Information Recognition of Medical Invoices Challenge", and the 2nd second runner-up in the "Information Recognition of Nucleic Acid Test Reports Challenge"PTC Awards Winner as a Sign of Worldwide AccreditationAs a prestigious global non-profit membership organization, Pacific Telecommunications Council (PTC) is well-known in the Pacific Rim countries for its annual conference as a critical platform of the telecommunications industry. The PTC Awards 2023 aims to acknowledge the industry's remarkable contributions to society and business, and CITIC Telecom CPC has the great honor to receiving "Outstanding Innovation or Transformation Award" with its "AI-AR Remote Hand" solutions for the first time. In addition to the recognition of its expertise in intelligent innovation, this award highlights the outstanding performance of the award-winning solutions against others and the significant contributions to the development of innovation within the industry.CITIC Telecom CPC's award-winning "AI-AR Remote Hand Solution" integrates Artificial Intelligence (AI) and Augmented Reality (AR) technologies together with CITIC Telecom CPC's AI algorithmic capabilities and visual technologies, enabling field engineers and remote support teams to collaborate seamlessly for workplace conditions monitoring via AR glasses. Not only can it be applied across industries, but it also unleashes enormous business values and new service experience in multiple scenarios.Authoritative Certification as a Proof of Aligning with International StandardsFollowing six months of rigorous assessment and evaluation by its Information Compliance team and Application Development team, CITIC Telecom CPC has achieved the "CMMI Maturity Level 3 Certifications [Defined]" by the CMMI Institute in November 2022, which signifies the company has aligned with the worldwide mainstream models and has obtained international recognition in software development and standardization, process improvement and project management. This CMMI certification is also an essential indicator for constructing IT projects in many enterprises, businesses and government sectors.As an integration of new practices in software engineering, system engineering, project management, process management and vendor management, the CMMI Maturity Level 3 Certifications [Defined] is a significant milestone for CITIC Telecom CPC in improving its capabilities of software development and management. Looking ahead, the company will continue to enhance its technology and services of cloud, network, intelligence and security for more innovative changes in the ICT industry.Wins Three Major Awards in a Row Showcase its Innovative Capabilities and EfficiencyIn the iFLYTEK AI Developer Competition, a renowned artificial intelligence competition in China, the Data Science and Innovation team of CITIC Telecom CPC has outdone itself to showcase its expertise and advanced innovation capability with three major awards including two championships in the "Schedule Information Extraction of Email Notifications Challenge" and "Information Recognition of Medical Invoices Challenge", and a 2nd runner-up in the "Information Recognition of Nucleic Acid Test Reports Challenge".Held in November 2022, the iFLYTEK AI Developer Competition attracted 32,333 developer teams to participate in the contest that spanned a wide range of areas, such as metaverse, healthcare, geographic remote sensing and digitalization of enterprises. During the competition, each team was required to collect different types of information for each theme, and performed algorithmic analysis and model training to raise the accuracy of information recognition.As an enterprise specializing in the R&D of technology, CITIC Telecom CPC's Data Science and Innovation team has been dedicated to artificial intelligence for years, and was able to apply and integrate various neural network models to bring artificial intelligence into real life and workplace. The team achieved excellent results in three major contests and stood out from others with highly accurate and efficient final solutions, gaining authoritative recognition in terms of artificial technology applications and technology integration. Through active engagement in different innovative technology-related competitions, CITIC Telecom CPC is believed to be a company who attaches great importance to R&D and implementation, thereby acquiring hands-on industry experience for higher competitiveness and a sustainable and quality business development.About PTC AwardsPTC is the leading industry organization for telecommunications professionals with operations in the Pacific Rim. The PTC Awards recognize the contributions that companies are making to help improve connectivity, communication, collaboration, and quality of life for people and organizations across the Pacific region.About CMMI Maturity Level 3 Certifications [Defined]CMMI is a world-class process improvement framework that guides organizations in the improvement of software development process and the evaluation of software development capabilities. It was developed by a group of experts from the Software Engineering Institute (SEI) at Carnegie Mellon University for 4 years. CMMI 3 refers to CMMI Level 3, known as the "Defined" level. It is to standardize the whole software development process with requirements, including research, design, coding, testing. The key is to standardize and solidify the entire process through an integrated project management tool to achieve CMMI level 3 standards.About iFLYTEK AI Developer Competition "iFLYTEK AI Developer Competition" is a competitive platform of Artificial Intelligence (AI) initiated by iFLYTEK Co., Ltd. and co-organized by China Information Industry Association (CIIA), which brings together the industry-university-institute power and global developers through various data algorithms and innovative applications challenges, so as to promote cutting-edge scientific research and innovation in AI, cultivate AI talents and facilitate AI ecological development.About CITIC Telecom CPCWe are CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serving multinational enterprises the world over by addressing their specific ICT requirements with highly scalable tailored solutions built upon our flagship technology suites, comprising TrueCONNECT(TM) private network solutions, TrustCSI(TM) information security solutions, DataHOUSE(TM) cloud data center solutions, and SmartCLOUD(TM) cloud computing solutions.With the motto "Innovation Never Stops," we leverage innovative technologies, embracing AI, AR, Big Data, IoT, and other cutting-edge emerging technologies to transform technical potential into business value for our customers. As an enterprise digital transformation partner, we strive to help our customers achieve industry-leading positions, high agility, and cost-efficiency through digitalization.With our Global-Local capabilities, we are committed to providing our customers with one-stop-shop ICT solutions with superior quality. Having a worldwide footprint across nearly 160 countries, including Asia, Europe and America, Africa, the Middle East, and Central Asia, our global network resources connect over 160 points of presence (POPs), 60 SDWAN gateways, 21 Cloud service centers, 30+ data centers, and two dedicated 24x7 Security Operations Centers (SOCs). We are certified with a series of international certifications, including SD-WAN Ready, ISO 9001, 14001, 20000, 27001, and 27017, to ensure our services compliance with international standards and resources for enterprises. We offer local professional services, superior delivery capabilities as well as exceptional customer experience and best practices through our global presence and extensive industry know-how, becoming a leading integrated intelligent ICT service provider to enterprise customers.For more information, please visit www.citictel-cpc.comMedia Contact:Catherine Yuen CITIC Telecom CPC (852) 2170 7536 Email: catherine.yuen@citictel-cpc.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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22nd Hong Kong Eyewear Design Competition Winners Announced ACN Newswire

22nd Hong Kong Eyewear Design Competition Winners Announced

January 17, 2023
HONG KONG, Jan 17, 2023 - (ACN Newswire via SEAPRWire.com) - With this year's Avant Garde theme, the 22nd Hong Kong Eyewear Design Competition's winning pieces reflected the creativity, acute sense of style and boundless imagination of local designers. The competition aims to encourage innovation and enhance the design quality of Hong Kong eyewear products, identify new talents and promote Hong Kong's creative products to international markets.The 22nd Hong Kong Eyewear Design Competition Award Presentation Ceremony was held on 13 January"Survival Next" - Champion of the Open Group and Made-to-Sell AwardThe award presentation held on 13 January was organised by the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Optical Manufacturers Association, with the Hong Kong Polytechnic University and Hong Kong Design Institute as co-organisers.The competition was divided into two categories: the Open Group and Student Group. The judging panel made up of experts in different disciplines evaluated the entries based on (1) product design, (2) practicability and functionality, (3) product description, (4) marketability and (5) presentation.Winning pieces represent local innovationSurvival Next designed by Lai Pui Yan, BOBO from OKIA Optical Co. Ltd came top of the Open Group and received the Made-to-Sell Award. Her eyewear design was inspired by the gear NFT video game characters use for survival. The product allows wearers to travel between the virtual and real worlds.Representing Sun Hing Vision Group Holdings Limited, Leung Ngai Ming's Turning was the first runner-up of the Open Group with his futuristic folding sunglasses. With a 360-degree hinge, the eyewear can be changed into four forms, namely sunglasses, optical glasses, folding glasses and butterfly shapes.The Open Group's second runner-up Chim Pui Ho & Lam Long Him's Time Traveler incorporated the concept of time travel into their design. The eyewear's left side represents the past through the use of traditional materials and techniques, while the right highlighted the future with a bolder appearance and colour tone, a perfect fusion of the past and future.Discovering design talents of tomorrowFor the Student Group, Yip Tsz Yan of the School for Higher and Professional Education, took first place with her Parallel Universe design. The eyewear's intricate geometric and parallelism design represent the intersection between life and infinity.Osseon designed by Wong Zhen Jie, Lionel of the Hong Kong Polytechnic University, was first runner-up of the Student Group. The design's surface undulations blur the boundaries between the exterior and interior. It can be produced by 3D printing, with tough but flexible PA12 nylon. It can be dyed in different colours to accentuate wearers' individual taste.The Student Group's second runner-up was Lau Chi Sum of Youth College International. Titled Infinity, the design is composed of two semi-reflective lenses and a customisable layer of glowing powder between them. It appears to have an infinite depth with mutable colours and patterns, which can be customised for individual wearers.The Creativity Award was presented to Law Hoi Shan, Jamela. Her Morphogenesis design encourages viewers to embrace transhuman aesthetics and envision humanity's evolution. Apart from correcting myopia, hyperopia and presbyopia, the multi-purpose accessory allows wearers to use different lenses to access diverse features, such as magnification, light polarisation and colour enhancement. By looking through different lenses, wearers are encouraged to look at the world through different eyes.Apart from trophies, cash prizes and certificates, the winning works will be publicised on the website of the 31st Hong Kong International Optical Fair as well as the website and annual journal of the Hong Kong Optical Manufacturers Association. The winning pieces have the opportunity to be on display at international optical events.Hong Kong International Optical Fair helps create opportunitiesThe 31st Hong Kong International Optical Fair will take place from 8 to 10 November 2023 at the Hong Kong Convention and Exhibition Centre (HKCEC), while the online exhibition will run from 8 to 17 November 2023.Meanwhile, the HKTDC has arranged select exhibitors and buyers to try out the Click2Match smart business matching platform and meet online from 9 to 11 January 2023. The platform features meeting scheduling, video conferencing, instant messaging, message translation and file-sharing to facilitate communication between exhibitors and buyers.Fair website:- Hong Kong International Optical Fair: https://hkopticalfair.hktdc.com/- Photo Download: https://bit.ly/3iC8UGw About the HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus Follow us on Twitter @hktdc and LinkedIn.Media enquiries:HKTDC's Communications & Public Affairs Department:Kate Chan, Tel: +852 2584 4239, Email: kate.hy.chan@hktdc.orgAgnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Fosun Receives RMB12 Billion Syndicated Loan to Consolidate Capital for Business Development

January 17, 2023
HONG KONG, Jan 17, 2023 - (ACN Newswire via SEAPRWire.com) - On 16 January 2023, Fosun High Technology, the domestic operating entity of Fosun International Limited ("Fosun International", HKEX: 00656), and eight domestic banks held a syndicated loan signing ceremony at the Bund Finance Center, Shanghai. According to the agreement, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications as joint lead banks, and China Minsheng Bank, the Export-Import Bank of China, and Shanghai Pudong Development Bank, and as participating banks will jointly form a syndicate to provide Fosun High Technology a loan totaling RMB12 billion.It is reported that this is the largest private enterprise loan led by five major state-owned banks in cooperation with policy banks and joint-stock banks since the Central Economic Work Conference explicitly proposed in mid-December last year to encourage and support the development of the private economy and private enterprises.The market is generally in the view that the syndicated loan is not only of great significance to Fosun, but it also plays a positive role in improving public expectations and boosting confidence for development for private enterprises in Shanghai and even the entire country.According to the Company's official release, Guo Guangchang, Chairman of Fosun International said that this signing has further deepened the cooperation between Fosun and banks, broadened financing channels, and consolidated liquidity support for business development.Before the RMB12 billion syndicated loan was officially completed, on 13 January, Fosun High Technology successfully completed bookbuilding for the RMB1 billion super & short-term commercial paper "23 Fosun High Technology SCP001" with a term of 180 days and a coupon rate of 6.99% per annum. The super & short-term commercial paper is Fosun High Technology's first issuance since its return to the public market at the end of April 2022.Market analyst pointed out that the successful issuance of the super & short-term commercial paper and the smooth completion of more than RMB10 billion syndicates loan reflect financial institutions and investors' confidence in the stabilization of Fosun's capital and their endorsement of Fosun's strategy of streamlining the organization and focusing on its core businesses.Over the past six months or so, Fosun's series of divestment actions in the capital market have gained widespread attention. During the period, companies under Fosun significantly reduced their shareholdings in Nanjing Iron and Steel United, Jianlong, Zhaojin Mining, Tsingtao Brewery, Jinhui Liquor, Zhongshan Public Utilities, Sanyuan, and COFCO Engineering & Technology. According to incomplete statistics, Fosun's accumulative return of capital has reached tens of billions of yuan. In addition to this syndicated loan and the super & short-term commercial paper, Fosun's capital has been further consolidated.In recent years, Fosun proposed to position itself as a global innovation-driven consumer group. In the past six months or so, Fosun has significantly accelerated its pace of focusing on its core businesses in the family-oriented consumer sector. Based on recent positive news, it can be seen that this strategic adjustment has already achieved results, and Fosun's Health, Happiness, Wealth and other family-oriented consumer sectors have shown a strong recovery momentum.Taking Fosun Tourism Group in the Happiness segment as an example, on the New Year's Day this year, Atlantis Sanya, FOLIDAY Town Lijiang and other businesses have all performed better than the same period in 2022, and many Club Med resorts in China recorded close to 100% occupancy. In the global market, Club Med's bookings in the first half of 2023 have greatly exceeded the same period in 2019 before the COVID-19 epidemic.Regarding Fosun Pharma in the Health segment, its anti-epidemic vaccine and drug continue to attract great attention. COMIRNATY, including the monovalent COVID-19 mRNA vaccine (BNT162b2) and the bivalent vaccine which can protect against the Omicron variant, was officially registered as a drug/product (biological product) in Hong Kong SAR on 20 December 2022. Fosun Pharma has also opened up vaccinations to people including Mainland Chinese residents. As regards Azvudine, the oral medication for COVID-19, it is now included in the medical insurance scheme in 31 provinces, municipalities, and autonomous regions across the country, and is available in grassroots medical institutions in many provinces. The accessibility of Azvudine has been greatly enhanced.Based on its solid financial performance and strong potential for rebound, domestic and overseas securities firms have recently issued research reports, assigning Fosun International an "overweight" rating. On 12 January, Nomura Orient International Securities published a research report and mentioned that Fosun International currently has sufficient cash flow, the short-term liquidity problem has been resolved, the future leverage ratio is expected to be reduced, and the capital structure will continue to be optimized; at the operational level, Fosun will firmly focus on its core businesses in the family-oriented consumer sector. With the continuous optimization of China's epidemic prevention policy, the firm expects Fosun to achieve better performance.Previously, China International Capital Corporation (CICC) and China Industrial Securities have published research reports successively and expressed optimism about Fosun's strategy of streamlining the organization and focusing on its core businesses."In the medium and long term, we believe that the valuation method of Fosun International is expected to gradually shift from using the NAV of the group to using the PE of the large consumer company. As a result, Fosun is expected to usher in a rise in the central level of long-term valuation," CICC mentioned in the research report. Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Hong Kong International Wine & Spirits Fair opens today ACN Newswire

Hong Kong International Wine & Spirits Fair opens today

January 10, 2023
HONG KONG, Jan 10, 2023 - (ACN Newswire via SEAPRWire.com) - Organised by the Hong Kong Trade Development Council (HKTDC), the 14th HKTDC Hong Kong International Wine & Spirits Fair (Special Edition) opened today and will run for two days (10 and 11 January) at the Hong Kong Convention and Exhibition Centre (HKCEC). This year's Wine & Spirits Fair is the HKTDC's first wine event bringing tasting sessions back after a pause during the COVID-19 pandemic. The two-day physical fair is only open to industry buyers and business matching meetings will be set up onsite between buyers and exhibitors to deepen business relationships and open more prospects in the sector.The 14th HKTDC Hong Kong International Wine & Spirits Fair opened today and continues for two days (10 and 11 January) at the Hong Kong Convention and Exhibition Centre.Local and international trade associations and government organisations participating in our fair with their own pavilions at the fairground, presenting a range of exquisite wines.The first certified kosher Czech whisky is made with the best local ingredients and diluted with local spring water.HKTDC Deputy Executive Director Sophia Chong said: "For the first time since its launch in 2008, the Wine & Spirits Fair is held in January to kick off the wine industry event season in 2023, offering plenty of opportunities for buyers and exhibitors to give their business a boost in the new year. The fair features more than 100 local and international exhibitors, showcasing their fine wine, liquor, baijiu, beer, sake and other alcoholic beverages from around the world, including Argentina, Australia, Mainland China, France, Hong Kong, Italy, Japan, Scotland and the United States. Local and international trade associations and government organisations participating in our fair with their own pavilions at the fairground, include the Hong Kong Wine and Spirits Association (HKWSA), Hong Kong General Chamber of Wine & Spirits (HKGCWS), Craft Beer Association of Hong Kong (CBAHK), Beverage and Food Community (BNFC), National Tax Agency Japan and Fukuoka Prefectural Government."According to the latest wine industry data from the International Organization of Vine and Wine (OIV), as of 2021, the mainland was the world's seventh-largest wine consumer. Hong Kong started its zero-wine duty policy in 2008 and has since become the first free wine port among major economies, boosting wine imports. Hong Kong and the mainland also signed a cooperation agreement in 2010 to facilitate customs clearance for wine exported from Hong Kong to the mainland. Since November 2017, these measures have been extended to every port in the 42 mainland Customs Districts, further fortifying Hong Kong's position as Asia's wine trading and distribution hub. The value of Hong Kong's wine exports for 2021 reached HK$1.595 billion (US$204 million), a 77% year-on-year rise. Most exports in Hong Kong are re-exports of imported wines, with Asia the major market. The mainland and Macao, which together accounted for nearly 66% of 2021 exports, are the major destinations for Hong Kong. In addition, Hong Kong is the third-largest sake export market after the US and mainland.Tradition and technology combine for fine winemakingOverseas and local exhibitors exhibit a variety of fine wines at the Wine & Spirits Fair. Rymill Coonawarra from Australia (booth: S425-03A) brought the 2018 Classic Cabernet Sauvignon from the Coonawarra region in Australia, which is made with carefully selected locally grown Cabernet Sauvignon, aged in French oak barrels. This wine was given a high rating of 95 points by Jane Faulkner in the Halliday Wine Companion 2021; Hong Kong Beer Co., Ltd. (Booth: S423-01) at the CBAHK pavilion presented locally brewed NO LIMITS PALE ALE beer, which is loaded with premium Cryo Pop, Citra, Idaho 7, and Azacca hop cultivars to achieve maximum citrus and tropical fruit flavours and aromas. The Hong Kong local beer has won Silver Medal, Brussels Beer Challenge 2022 and Bronze Medal, International Beer Cup 2022.Specialty wines from rare production regions highlight unique flavoursAt the HKWSA Pavilion, PD Jemmuelson Ltd (Hong Kong) (booth: S226-05) displayed Yuchun Junmai Sake from Taiwan, made with domestic top-grade penglai rice under "pure rice brewing", presenting the flavour of Taiwan; T'z Limited (Hong Kong) (booth: S222-08) at the HKGCWS pavilion presented Trebitsch Single Malt Whisky, the world's first Czech single-malt with international kosher quality certification. Trebitsch is first and only company in the Czech Republic that specialises in whisky production. The whisky is made with the best local ingredients and diluted with local spring water.Grasping the health trend and reshaping tastesArrive Sake Gold (Junmai Daiginjo) demonstrated by TANAKA Shuzoten Inc. (Japan) (booth: S421-15), an exhibitor at the Japan pavilion, is a rare vegan-certified Japanese sake. It is made with luxurious Yamada-Nishiki, the highest grade of sake rice produced in Hyogo Prefecture. The sake has a gentle and full-bodied ginjo aroma; Katsuya Syuzo Partnership Company (Japan) (booth: S428-02) of Fukuoka pavilion presents Honoka sake, light and easy-to-drink, meeting the needs of young people and women who prefer a light taste.Fine wines from around the worldLocal exhibitor Everrise International Trading Co Ltd. (booth: S422) exhibits Kweichow Moutai, the state guest baijiu that is highly sought after in the mainland market. The baijiu has won a number of international awards and has gradually become a new hot pick among consumers. The other local exhibitor, Hong Kong Craft Distilling Co. Limited (booth: S423-03), featured 100% locally brewed N.I.P Rare Dry Gin distilled from 21 different types of traditional gin herbs and raw ingredients with distinctive Hong Kong flavours.Events and seminars to promote industry exchangesA series of exciting activities will be arranged, including Hong Kong Wine Industry Outlook 2023 (With HKWSA); Taking off: A Flight of Local Beer and Cider (With CBAHK); Insider's Guide to Wine Authentication (With HKGCWS); Mystic Island Winery - An Exceptional Chinese Vineyard (With Wine & Spirits) introduces fine wines from Yantai, Shandong; and the 4th Miss SAKE Hong Kong Inauguration Ceremony to promote exchanges between industry players. Websites- Wine & Spirits Fair: http://hkwinefair.hktdc.com/- Product highlights and photo download: https://www.hktdc.com/event/hkwinefair/en- Photo download: https://bit.ly/3k8PPfuAbout HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.Media enquiriesPlease contact the HKTDC's Communications & Public Affairs Department:Kate Chan, Tel: +852 2584 4239, Email: kate.hy.chan@hktdc.orgAgnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Pertamina International Shipping (PIS) Secures Collaboration Agreements with Global Partners ACN Newswire

Pertamina International Shipping (PIS) Secures Collaboration Agreements with Global Partners

January 7, 2023
JAKARTA, Jan 7, 2023 - (ACN Newswire via SEAPRWire.com) - PT Pertamina International Shipping (PIS) has secured two collaboration agreements with global partners. The signings were held with the inauguration of the PIS branch office in Dubai, UAE (PIS ME) on December 23, 2022. PIS signs MoC with Elite Tankship, signed by the CEO of Elite Tankship, Mangish Kakodkar, and the Director of Operations of PIS, Brilian Perdana. Witnessed by CEO PIS, Yoki Firnandi, President Director Pertamina, Nicke Widyawati, President Commissioner Pertamina, Basuki Tjahaja Purnama, and H.E Ambassador of Indonesia for UAE, Husin Bagis.PIS signed a Heads of Agreement (HoA) with BGN International DMCC (BGN), and a Memorandum of Collaboration (MoC) with Elite Tankship Pte Ltd (Elite Tankship).The HoA with BGN was signed by the CEO of BGN Group, Ruya Bayegan, and the CEO of PIS, Yoki Firnandi. The agreement addresses a Joint Venture (JV) establishment by the two companies for the acquisition, maintenance, and operation of VLGC (Very Large Gas Carriers) vessels and/or other types of vessels.BGN, headquartered in the UAE, is one of the world's largest LPG (Liquified Petroleum Gas) trading companies and the largest LPG importer in Indonesia. "The VLGC business will support BGN's imports of Pertamina's LPG. At some point, it might endorse the cargo market of ammonia," said Commercial Director of PIS, Arief Sukmara. The MoC with Elite Tankship addresses Clean Petroleum Products (CPP), Dirty Petroleum Products (DPP), gas, and other commodities needed in the Middle East, and other areas covered by the parties. The MoC was signed by the Elite Tankship CEO Mangish Kakodkar, and PIS Director of Operations and Managing Director Brilian Perdana.Elite Tankship, headquartered in Singapore, established collaboration with PIS in chartering the VLCC Pertamina Prime, the largest owned vessel and the company's pride, in May 2022 for a six-year contract period.About PT Pertamina International Shipping (PIS) Pte LtdAs the Integrated Marine Logistics Subholding, PT Pertamina International Shipping (PIS) supports Indonesia's economic growth through safe and sustainable operation, becomes a trusted and reliable maritime partner, and promotes value for stakeholders through running its business. https://pertamina-pis.com/. Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Overwhelming interest among global financial leaders to attend 16th Asian Financial Forum ACN Newswire

Overwhelming interest among global financial leaders to attend 16th Asian Financial Forum

January 6, 2023
HONG KONG, Jan 6, 2023 - (ACN Newswire via SEAPRWire.com) - The 16th Asian Financial Forum (AFF), organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will once again be held at the Hong Kong Convention and Exhibition Centre (HKCEC) on 11 and 12 January to bring together global financial leaders in person. The event will also be accessible virtually. The first large-scale business exchange event of 2023 comes on the heels of the reopening of the Hong Kong-Mainland China border and the resumption of quarantine-free travel between Hong Kong and the mainland since the start of the pandemic.Wilson Chow, PwC Global Technology, Media and Telecommunications Industry Leader; Dr Patrick Lau, HKTDC Deputy Executive Director; Mary Huen, Chairperson of the AFF Steering Committee and Cluster CEO, Hong Kong, Taiwan and Macau, at Standard Chartered; and Danny Lee, Director of Hong Kong Venture Capital and Private Equity Association [L-R]The HKTDC is organising a series of travel experiences, food and accommodation discounts and other opportunities for overseas guests to make the most of their stay in Hong Kong during the AFF and International Financial Week and enjoy the vibrancy of Asia's World City.With this year's theme being Accelerating Transformation: Impact - Inclusion - Innovation, AFF will examine the current state of the global economy and explore major issues, such as trade and sustainable development across more than 40 panel discussions and workshops. Given the interest in hot-button social issues related to international finance and topics such as climate change, health policy, energy and environmental protection, food and agriculture, in addition to the emergence of new economic models from rapid fintech developments like Web 3.0 and the Metaverse, this year's Forum will launch the Global Spectrum series, while continuing to organise Fireside Chats, to help participants stay current on a wider scope of matters affecting the latest global situation.17 business delegations, with more than 200 representatives, will attend AFF in person, including from Mainland China, Australia, Canada, Germany, Indonesia, South Korea, Saudi Arabia, Singapore, Thailand and the United Arab Emirates. These also include delegations led by the World Federation of International Financial Centers, Beijing Financial Bureau, Tianjin Commission of Commerce, Shenzhen Financial Bureau, Hong Kong General Chamber of Commerce in Thailand, Riyadh Chamber of Commerce, Dubai Chamber of Commerce and other organisations. More international business representatives are expected to confirm their in-person participation at the Forum in the coming days.Mary Huen, Chairperson of the AFF Steering Committee and Cluster CEO, Hong Kong, Taiwan and Macau, at Standard Chartered, said: "For Hong Kong, 2023 will be a year of recovery and the return to normalcy. The imminent and orderly resumption of travel with the Mainland will help stimulate our economy, improve market sentiment, and consolidate Hong Kong's role as a super connector - bridging the Mainland and the international market. We are glad that this year's Asian Financial Forum will see global leaders gathering here physically to discuss the opportunities and challenges facing the financial industry, reinforcing Hong Kong's status as an international financial centre."Dr Patrick Lau, the HKTDC's Deputy Executive Director said: "Firstly, given last year's volatile financial markets and fragile economy globally, transformation is key, as the world in 2023 needs new insights, solutions and opportunities, which the more than 100 global political and business leaders, financial experts, investors, entrepreneurs, tech giants and economists we engaged as our speakers will share with our distinguished AFF participants. Secondly, with the resumption of quarantine-free travel between the mainland and Hong Kong and the lifting of international travel restrictions in Hong Kong, we are pleased to see huge interest to join AFF, including attending in-person in Hong Kong. We believe that the AFF platform enables all participants to have closer interactions and create more business opportunities. Another big attraction is, of course, that the participants will introduce their projects at AFF to secure partners or investors. AFF will attract global financial leaders and professionals to participate in person as well as online, and will once again showcase Hong Kong as a vibrant international business centre."Comprehensive analysis of the latest social and financial situationThis year's forum gathers financial experts from all over the world. Three keynote speakers, Ban Ki-moon, eighth Secretary-General of the United Nations; Helen Clark, former Prime Minister of New Zealand; and Christina Figueres, co-founder of Global Optimism and former Executive Secretary of the United Nations Framework Convention on Climate Change, will share their insights on topics, such as multilateral cooperation for sustainable development, diversification and integration, climate action and net zero emissions.Other distinguished guest speakers include Valerie Baudson, Chief Executive Officer of Amundi; Gu Shu, Chairman of the Agricultural Bank of China; Takeshi Kunibe, Chairman of the Board of Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking Corporation; Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners; Dr Ridha Wirakusumah, Chief Executive Officer of the Indonesia Investment Authority; Mark Tucker, Group Chairman of HSBC; Dr Jose Vinals, Group Chairman of Standard Chartered; and Liu Jin, Vice Chairman of the Board of Directors and President, Bank of China. Their insights will offer an in-depth look at the state of play of global finance, opportunities in the Regional Comprehensive Economic Partnership (RCEP) and Guangdong-Hong Kong-Macao Greater Bay Area markets, asset and wealth management, ESG and green finance, family office ecosystems, impact investing, inclusive finance and more.Norman Chan, Chairman of RD Wallet Technologies, will have a dialogue with Charles Li, Founder and Chairman of Micro Connect on creating an inclusive capital market; Jeremy Coller, Founder and Chief Investment Officer of Coller Capital, will share his views on ESG in private equity investment; Evan Auyang, Group President of Animoca Brands, Dr Giovanna Graziosi Casimiro, Head of Metaverse Fashion Week of Decentraland and Sebastian Fahey, EVP, Managing Director, EMEA and Executive Lead, Metaverse of Sotheby's, will look at NFTs and digital collectable trends. (For the full list of AFF speakers and programmes, please visit https://www.asianfinancialforum.com/conference/aff/en/speaker and https://www.asianfinancialforum.com/conference/aff/en )AFF Deal Flow Matchmaking Session extended to showcase fintech solutionsThe popular AFF Deal Flow Matchmaking Session, jointly organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association, will provide investment matching services in hybrid format. The first two days of matchmaking meetings (11 and 12 January) will allow participants to meet at the physical Forum venue and will continue online until 17 January, offering investors and project owners a prolonged period to connect and explore collaboration opportunities. The investment projects covered will span diverse sectors, such as deep tech, digital technology and media, healthtech, education, infrastructure and real estate services, with an eye towards facilitating connections between investors and project managers. More than 600 Deal Flow matchmaking meetings are expected to be held.There will also be featured exhibition zones - both physical and online. These are Fintech Showcase, the InnoVenture Salon, FintechHK Startup Salon and the Global Investment Zone, which will showcase various innovative technologies. More than 120 local and international financial institutions, tech companies, start-ups, investment agencies and sponsors - including PwC, Standard Chartered Bank, Bank of China, HSBC, UBS, China International Capital Corporation, Huatai International, Hong Kong Exchanges and Clearing Limited, as well as Cyberport - will gather at the Forum to showcase technologies of tomorrow and global investment opportunities.Travel experiences, food and accommodation discounts, and more for overseas participantsTo encourage overseas AFF delegates to make the most of their stay and experience the vitality of Hong Kong outside the Forum, the HKTDC has for the first time partnered with the Hong Kong Tourism Board, Klook, the Lan Kwai Fong Group and hotels to offer travel experiences, food and accommodation discounts, coupled with other special offers to showcase Hong Kong as a popular tourist, conference and exhibitions destination. As the HKSAR Government announced the resumption of quarantine-free travel between the Mainland and Hong Kong in a gradual and orderly manner last month, the HKTDC extends the special offer for an admission pass to 8 January, on top of the Convention and Exhibition Industry Subsidy Scheme, in the hope of driving more participation.Websites- Asian Financial Forum: https://www.asianfinancialforum.com/aff/en/- Members of the media interested in interviewing speakers at the Asian Financial Forum can email tleung@yuantung.com.hk or ayiu@yuantung.com.hk by 9 January 2023.- HKTDC Media Room: http://mediaroom.hktdc.com- Photo download: https://bit.ly/3CvC7toAbout HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn,Media enquiriesYuan Tung Financial Relations:Tiffany Leung, Tel: +852 3428 2361, Email: tleung@yuantung.com.hkAgnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hkHing-fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hkHKTDC's Communications & Public Affairs Department:Katy Wong, Tel: +852 2584 4524, Email: katy.ky.wong@hktdc.orgSnowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.orgSunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Decentralized Art Financial Platform ‘Art de Finance’, Partners with Incheon Airport Art Hub Consortium ‘ARSHEXA’ SeaPRwire

Decentralized Art Financial Platform ‘Art de Finance’, Partners with Incheon Airport Art Hub Consortium ‘ARSHEXA’

January 5, 2023
Zug, Switzerland, January 05, 2023 – (SEAPRWire) – Art de Finance, a decentralized art financial platform, announces its partnership with the ARSHEXA Corporation Limited which has the Incheon airport art storage project underway on Dec 27. With its headquarters in Zug, Switzerland, Art de Finance is a platform that transforms physical art into NFT and evaluates art NFT through its decentralized mechanism. The company has announced it will be providing services such as trading and linking with decentralized financial service (DeFi) through its platform via priced physical art NFT. Through this partnership and with the completion of the art hub storage project in 2026, Art de Finance’s art pieces will be stored in the Incheon airport’s storage space in the near future. Art storage space maintains consistent temperature and humidity perfect for preserving high-value artwork and protects artwork from any physical threat. ARSHEXA Corporation Limited’s Incheon airport art storage project is valued at 400 Million USD and the amount of investment and the size of the storage have been known to be the largest of its kind. Major international airports around the world are striving to establish culture and art-related services and facilities and are strategizing to secure growth opportunities in art businesses. Incheon International Airport is also planning to establish itself as a culture and art-focused airport with its introduction of art storage facilities. Currently, art storage facilities only exist in four major cities in the world: Singapore Changi Airport’s 30,000㎡ Le Freeport, Luxemburg Findel Airport’s 22,000㎡ High-Security Hub, and Switzerland’s Geneva Airport’s 10,000㎡ Ports Francs. The art storage facility that ARSHEXA is building is the largest in the world with a total surface area of 83,228㎡ spanning the first lower level and the fourth upper level. With its cost estimated at 379.5 billion won, the facility will take place on the west side of the Incheon International Airport spanning 43,669㎡ , and will be finished by 2026. Experts predict with the completion of the art storage facility in the Incheon International Airport, the majority of the artwork based in Hong Kong will turn to Incheon via Hexit (Hongkong+Exit). Hong Kong is Asia’s largest art market and with its entire city designated as a free trading port, art customs clearance enjoys relatively lax regulations. Art trading corporations such as Sotheby’s and Christie’s with large influence over Hong Kong’s art market have their own storage facilities in various parts of Hong Kong to maintain their assets. However, an industry representative spoke that in recent years, China’s influence over Hong Kong has become increasingly overt and this has led to uncertainty surrounding the anonymity and security of high-value art storage. Predictions have been made that Incheon will become the international art hub as Japan possesses the risk of earthquakes and this is considered more perilous than South Korea’s proximity to North Korea. “This partnership is crucial to Art de Finance’s physical art storage and security,” said an Art de Finance spokesperson. “There has been an endless controversy surrounding digital NFT and their physical form and their price volatility have also been an issue in the past. We plan to provide a curating system so physical art can be transformed into NFT at an appropriate price point to provide a solution to NFT price volatility and contribute to the NFT market’s growth along with an art market.” Art de Finance provided technical support for Busan City’s official marketplace operation throughout the Busan Blockchain Week Event last September. Through this partnership, Art de Finance announced it will aid ARSHEXA Corporation Limited’s blockchain-related services with its technological capabilities. Social Links: Telegram: https://t.me/artdefinancechat Twitter: https://twitter.com/ArtdeFinance Medium: https://medium.com/@Art_de_Finance Discord: https://discord.com/invite/artdefinance Instagram: https://www.instagram.com/Art_de_Finance/ Media Contact: Brand: Art de Finance Contact: Henry kim Website: https://www.artdefinance.io/ SOURCE: Art de Finance The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)
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Tianyun International Signed MOU with a Leading Korean Food and Beverage Company as a Strategic Partner ACN Newswire

Tianyun International Signed MOU with a Leading Korean Food and Beverage Company as a Strategic Partner

January 3, 2023
HONG KONG, Jan 3, 2023 - (ACN Newswire via SEAPRWire.com) - Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, (the "Group") (Stock Code: 6836.HK), a leading seller and manufacturer of processed fruit products in the People's Republic of China ("PRC"), is pleased to announce that the Group has signed a Memorandum of Understanding (MOU) with SF Innovation Co., Ltd., a leading Korean food and beverage manufacturing company, under which the two companies will work together as strategic partners to explore and develop the distribution of fruit products and beverages along with promoting Asian cuisine in the Korean market. The MOU is expected to contribute to expanding the Group's overseas revenue streams and diversify its business, as well as enhance the Group's branding and international reputation.SF Innovation Co., Ltd. is a leading food and beverage manufacturing company in Korea. The company has a particularly strong presence in the Korean market with the multiple successful restaurant brands and food delivery service, and sells (Korean style) instant food packaged in metal containers. It has a strong influence in the Korean market.Mr. Yang Ziyuan, Chairman and CEO of the Group, said, "We have been actively seeking expansion opportunities for our high quality, healthy and diversified processed fruit products and featured beverage products in overseas markets. This strategic partnership will combine the respective resources of the Group and SF Innovation Co., Ltd. SF Innovation Co., Ltd. 's local expertise in franchising, branding and food delivery, which include distribution of fruit products and developing Asian cuisine for the Korean market. We are delighted that an agreement has been reached and we look forward to expanding the scope of our cooperation, such as strategic investment, in the future. We also believe that this synergistic partnership will enable both companies to achieve great success in the long-term development of the Korean market. Meanwhile, the Group is accelerating its production technology upgrades and continues to bring diversified healthy and featured beverages, and snack good to consumers, as it expands into domestic and international markets. Leveraging the Group's industry-leading position and meeting our social responsibility to drive high-quality development within the industry, we are striving to become an international fruit product & beverages company and contribute to the society by giving back to consumers for their support and trust."About Tianyun International Holding Limited (Stock Code: 6836.HK)Tianyun International Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") are principally engaged in (i) the research and development, production and sales of processed fruit packaged in metal containers, plastic cups, glass containers and aluminum foil bags and beverages ii) trading of fresh fruit. Processed fruit products are sold both under its own brands "Bingo Times", "fruit zz" and "Tiantong Times" and on an OEM basis. The beverages are sold under its own brand Shiok Party "Shiok Party" and "Yao Guo Ji".The Group has been consistently committed to providing its customers with healthy and safe products. As a food enterprise with one of the most complete quality certifications, we rigorously adhere to stringent international production standards and are accredited with BRC (A), IFS Food (High), FDA(FSMA), HALAL, SC, KOSHER, BSCI and ISO22000, etc. in respect of our production facilities, quality control and management. The Group has also passed the internal food-production standards reviews and audits from several UK and US supermarket chains. At the same time, as a Chinese "Equal production line; Equal standard; Equal quality" food production and export enterprise, the Group has been supplying products of equivalent quality to domestic and international markets. Since 2016, the Group's own-brand processed fruit products have continued to achieve high market recognition, and have also been awarded the honor and qualification of "China Canned Product Quality Certification Label" by national associations.The Group was awarded China's Most Promising Listed Companies by internationally-renowned financial magazine Forbes, and the "2017 Linyi Mayor Quality Award" by the PRC government in 2017. The Group's new and proprietary researched, developed and produced pure fruit snack food received a national "Certificate of Invention Patent" in 2018. The Group was awarded the national Hi-tech Enterprise Certificate in 2019. In 2020, the Group was recognised as one of the Most Valuable Chinese Brands for the fourth consecutive year.For more information, please visit www.tianyuninternational.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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HKTDC welcomes plans for border re-opening between Mainland China and Hong Kong ACN Newswire

HKTDC welcomes plans for border re-opening between Mainland China and Hong Kong

December 28, 2022
HONG KONG, Dec 28, 2022 - (ACN Newswire via SEAPRWire.com) - The Hong Kong Trade Development Council (HKTDC) welcomes the upcoming plans to re-open borders between Mainland China and Hong Kong. Resumption of travel will rejuvenate the convention and exhibition sector, boosting economic activity and helping to accelerate Hong Kong's economic recovery.A spokesperson from the HKTDC said: "Given the importance of economic and social connectivity between the Mainland and Hong Kong, the resumption of quarantine-free travel between Mainland China and Hong Kong will certainly be welcomed by many international and Mainland business people who have been waiting for this good news. The unimpeded flow of international and Mainland travellers will also benefit the convention and exhibition sector.""In the past three years, the HKTDC has been organising physical and online fairs and conferences as well as support programmes to help companies continue doing business during the pandemic. With the lifting of international travel restrictions in Hong Kong in recent months, we have also seen a gradual return of overseas participants to our events. We believe more international and Mainland companies will come to Hong Kong to do business when quarantine-free travel resumes between the Mainland-Hong Kong borders. To help companies capture even more opportunities, we have lined up a full programme of business events from January onwards."Flagship conferences and fairs in January to kick off the new yearThe HKTDC will kick off 2023 with the Asian Financial Forum (AFF) and Hong Kong Toys & Games Fair, Hong Kong International Stationery and School Products Fair, Hong Kong Baby Products Fair, and Hong Kong International Wine & Spirits Fair (Special Exhibition) in January, with missions to overseas cities in February, and the Jewellery show and Filmart in March. The Spring trade show season will see several large-scale events including the inaugural InnoEX, Electronics Fair (Spring Edition) , Lighting Fair (Spring Edition), Houseware Fair, Gifts & Premium Fair in April and International Healthcare Week in May.About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiriesPlease contact the HKTDC's Communications and Public Affairs Department:Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.orgSam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Series of “Overseas Talents’ China Visit to Shenzhen” Events Successfully Held ACN Newswire

Series of “Overseas Talents’ China Visit to Shenzhen” Events Successfully Held

December 6, 2022
SHENZHEN, CHINA, Dec 6, 2022 - (ACN Newswire via SEAPRWire.com) - A series of "Overseas Talents' China Visit to Shenzhen" events were successfully held in Guangming district, Shenzhen from November 21 to 22. The events were co-organized by Shenzhen Center for International Exchange of Personnel. The events are hosted by the China Association for International Exchange of Personnel, the Shenzhen Science and Technology Innovation Commission, the Communist Party of China Guangming District Committee, and the Shenzhen Guangming District People's Government.Presented by Guangming District Talent Work Bureau and Guangming District High-level Talent Service Center and co-organized by Shenzhen International Personnel Exchange Center, the series of events feature visits and exchanges by foreign experts, a forum for global experts and an exchange activity for Chinese and foreign guests named "The Night of Guangming", to name a few.The foreign experts symposium under "Overseas Talents' China Visit to Shenzhen" was held via video link in Beijing and Shenzhen on the afternoon of November 21.Li Xin, Deputy Director-General of the Department of Foreign Expert Services of China's Ministry of Science and Technology, Xia Bing, Deputy Director of China Association for International Exchange of Personnel, Cheng Buyi, Member of the Standing Committee of the CPC Shenzhen Municipal Committee and Minister of the Organization Department, Cai Ying, Secretary of the Guangming District Party Committee, attended the meeting and delivered speeches through online and offline channels. Qiu Haohang, Deputy Secretary of the Guangming District Party Committee and Chief of Guangming District, presided over the meeting.The events gathered academicians and experts from six countries, including the US, the UK, Italy, Germany, France and Cuba, putting the spotlight on topics such as original innovation breakthroughs, scientific research and economic development, talents opening up, and talent highland construction.Answering the requirements of "facing the world's scientific and technological frontier, facing the main economic battlefield, facing major national strategic needs and facing people's life and health", the series of activities gave Shenzhen a thorough examination and offered suggestions based on the city's industrial development characteristics and its environment for innovation and entrepreneurship.Aimed at tapping into the innovation plateau with talents, the events help the Guangming district to speed up the construction of a world-class science city and to become a representative and pioneer for Shenzhen's participation in future technology competitions.During the events, foreign experts also visited Shenzhen Engineering Biological Industry Innovation Center, Feiyada Museum, Shenzhen Bay Laboratory, Dadingling Greenway -- Hongqiao Park and other research institutes and key enterprises. They listened to the introduction of institutions, and exchanged with scientific and technological personnel, laying the foundation for future cooperation.Media contactWang Chan, Shenzhen Center for International Exchange of PersonnelEmail: wangchan@ciep.gov.cnTel: 0755-81707961; 0755-81773121Website: http://www.ciep.gov.cn/SOURCE: Shenzhen Center for International Exchange of Personnel Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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‘Entrepreneur Day’ and ‘Start-up Express’ help innovators adapt to the post-pandemic era ACN Newswire

‘Entrepreneur Day’ and ‘Start-up Express’ help innovators adapt to the post-pandemic era

December 4, 2022
HONG KONG, Dec 4, 2022 - (ACN Newswire via SEAPRWire.com) - Seeking a balance between the youthful enthusiasm of start-ups and steady performance of established firms has become a key issue for Hong Kong, as its entrepreneur ecosystem matures. The HKTDC Entrepreneur Day (E-day) and Start-up Express International, organised by The Hong Kong Trade Development Council (HKTDC) and held at the Hong Kong Convention and Exhibition Centre (HKCEC), brought together industry leaders, experts, start-ups and participants to discuss the shift towards sustainable and inclusive growth within the international start-up universe and how start-ups can address the pressing challenges of the post-pandemic era. The three-day E-Day ran from 30 November to today and included the debut of the Start-up Express International entrepreneurship development programme.Under the theme "Balance Beyond the Boom", the E-day attracted over 9,000 attendees and viewers from 44 countries and regions to the hybrid exhibition and seminarsTo celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, E-day incorporated the 12th World SME Summit, co-organised by the Hong Kong General Chamber of Small and Medium BusinessOverseas start-ups from Mainland China, Germany and Korea discuss health tech trends with three Hong Kong Start-up Express winnersUnder the theme "Balance Beyond the Boom", E-day and Start-up Express International offered physical and online seminars and exhibitions. More than 60 industry experts and renowned speakers analysed venture capital trends, offering insights on emerging industries and strategies for business expansion in a post-pandemic new normal through a series of forums, exhibitions, workshops and networking events. The event attracted over 9,000 attendees and viewers from 44 countries and regions to the hybrid exhibition and seminars.HKTDC Assistant Executive Director Stephen Liang said: "E-day saw entrepreneurs from different sectors exchange their views on the various trends shaping the world of business. In particular, we are delighted that outstanding Hong Kong start-ups shone alongside their global peers at the pioneering Start-up Express International. The contest between local and international start-ups inspires enhanced business models and nurtures start-ups locally and globally. We believe E-day has served as an exceptional occasion to showcase Hong Kong's supportive infrastructure for the incubation of young businesses which will surely attract even more outstanding start-ups looking to expand operations in Hong Kong."Fundraising in a competitive environmentWinning an investor's trust takes more than just a compelling pitch. Gaining trust has become even more challenging during the pandemic, where investors are cautious with fund deployment. On the first day of E-day, Eric Manlunas, Founder & Managing Partner of Wavemaker Partners, shared how venture capital firms had positioned themselves amid heightened volatility in the plenary session T-Chat - Global VC Investment: Rise or Fall. Mr Manlunas offered guidance on how early-stage businesses can convince investors of their potential and thrive, especially when venture capital investors are cautious about expanding portfolios.Innovators transform entrepreneurship and economyAs non-fungible tokens (NFTs) transcend their initial role as assets and have evolved into a marketing tool, more entrepreneurs are considering NFTs as core business functions. The seminar "NFT: Eye Candy or Key to Gold?" debated whether NFTs are pure gimmicks or can expand business in a concrete way. Representatives discussed the tangible impact NFTs had on brand value and how they boosted business opportunities.Meanwhile, to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, E-day included the 12th World SME Summit, co-organised by the Hong Kong General Chamber of Small and Medium Business. Under the theme "Achieving re-industrialisation through innovation in the new era", Herbert Chia, JP, Venture Partner of Sequoia Capital China, and Dr Denis Yip, CEO of ASTRI, discussed how small and medium-sized enterprises SMEs in Hong Kong could transform and re-industrialise via digitalisation and application of emerging technologies including 5G, IoT and metaverse.The hot investment trend of sustainability has joined hands with innovation and entrepreneurship to promote a circular economy. The E-day gathered like-minded companies to explain creating sustainable supply chains, contributing to a more sustainable society. Melanie Kwok, Assistant General Manager (Sustainability) of Sino Group, outlined the Group's experience in implementing sustainability strategies and how start-ups had helped the conglomerate achieve sustainability goals and created shared values. Ms Kwok said the Group was delighted to collaborate with two Hong Kong start-ups - archiREEF and Clearbot - to drive conservation and environmental protection in Hong Kong, and looked forward to more projects on sustainability.Fresh start-ups meet regional namesOn the final day, technology start-ups described their successful growth into regionally known brand names. For instance, Jong Yoon Kim, CEO of Yanolja, a leading Korean travel-tech unicorn, explained how it managed to ride out the COVID-19 storm as well as its plans to equip itself for a new wave of growth as international borders re-open. Mr Kim pointed out that big-tech companies such as Amazon, Netflix and Google had come to dominate many global industries but such a player had yet to emerge in the travel sector, presenting an opportunity for Yanolja to potentially fill that void. He also shared the vision and strategy to transform Yanolja into the world's leading global travel platform.Buy Now Pay Later (BNPL) is a short-term payment model that has grown in popularity among merchants and consumers, especially within the retail industry. In the afternoon, Trasy Lou Walsh, Regional Managing Director (SG, MY, HK, PH) of Atome, Asia's leading BNPL brand, described the model's landscape and its increasingly intense competitive environment as more credit card companies and banks joined the field to provide similar payment solutions to businesses.Start-up Express InternationalTo celebrate the fifth anniversary of the Start-up Express entrepreneurship development programme organised by HKTDC, Start-up Express International debuted on the second day of E-day, fostering discussions among innovative minds from all over the world across overseas start-ups and their local counterparts. The programme aims to encourage high-calibre foreign start-ups to set up in Hong Kong, and is supported by global partners from Belgium, Mainland China, Germany, Italy, Japan, Singapore, Korea, Turkey, the United Kingdom and the United States.During Start-up Express International, 10 overseas winners shared the stage with eight Hong Kong Start-up Express laureates to discuss industry insights and their entrepreneurship journeys. The 10 global winners were selected by a panel of professional judges earlier. They are:- inContAlert from Germany- Contents.com from Italy- Closer Inc. from Japan- VegeSense; KnowCarbon; InxMed from Mainland China- OTECH (Otsuka Technology) from Singapore- AON from Korea- MOBIQU from Turkey- rThreat from the United StatesA replay of the event, including highlights of the expo and forum, is available on-demand until 2 January 2023: https://eday.hktdc.com/conference/eday/en/programmeWebsites- HKTDC Entrepreneur Day: https://portal.hktdc.com/eday/en- Start-up Express International: https://portal.hktdc.com/startupexpress/en/s/start-up-express-international- Photo download: https://bit.ly/3FhlKClAbout HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.Media enquiriesPlease contact Hill+Knowlton Strategies:Joyce Kwong, Tel: +852 6842 5929, Email: joyce.kwong@hkstrategies.comNannerl Yau, Tel: +852 6846 7888, Email: nannerl.yau@hkstrategies.comHKTDC's Communications & Public Affairs Department:Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.orgJanet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.orgSunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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JCB identifies India as a key growth market for European merchants and acquirers to further propel digital payments and online spending JCN Newswire

JCB identifies India as a key growth market for European merchants and acquirers to further propel digital payments and online spending

November 29, 2022
TOKYO & LONDON, Nov 29, 2022 - (JCN Newswire via SEAPRWire.com) - JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., has identified a significant opportunity for European merchants and acquirers to tap into the rapidly growing Indian payments market, with JCB's data showing a 70% growth in Cardmembers between Q4 of 2021 and Q2 of 2022.[2]Projected to have the third-largest number of high-income households by 2030, the region is set to contribute $1.8 trillion to global consumption growth.[3]Traditionally a "cash-first" society, there has been a significant shift towards digital and card payments as part of a "less-cash" movement in recent years. This has been accelerated by government initiatives such as Digital India introduced with the specific aim to "transform India into a digitally empowered society and knowledge economy".[4]The National Payment Corporation of India (NPCI), set up by the Reserve Bank of India and Indian Banks' Association, has been a major factor in enabling widespread digital payments in the region. Reinvesting profits into growing India's payment ecosystem, the umbrella organisation operates retail and settlement payment systems throughout India and has a comprehensive services portfolio that makes them a central figure in the market.In terms of spending, research shows most Indians are optimistic in the wake of the Covid-19 pandemic, with consumer and retail spending including fresh produce, health and wellness goods, new vehicle purchases, and travel. As restrictions ease and travel is possible once more, the appetite to do so has only intensified, with outbound tourism set to surpass $42 billion by 2024 and Indian firms expected to facilitate easier travel through better connected flights.[5] Already one of the world's fastest growing aviation markets in 2019, there is an expectation that the number of daily fliers will exceed pre-pandemic numbers by the early 2023[6] with the likes of London, Paris, Dubai, Toronto, and Amsterdam being the most popular international destinations.This spending increasingly takes place online, too, with Indians willing to spend abroad from their home - especially with recognised brands and in frictionless and secure ecommerce environments. Access to reliable internet and low-cost data[7] makes it easier to go online at a time when traditional shopping methods have been more difficult amidst pandemic restrictions. The ecommerce sector alone is expected to grow by 96% between 2021-2025[8] and worth $200 billion by 2026.[9] 43% of international transactions from JCB Cards came from ecommerce spending.[10]These figures have been released alongside the launch of JCB's latest whitepaper, 'Prosperity Awaits - Tapping into the Indian Market', which includes exclusive insights for European merchants and acquirers on Indian spending patterns, and the importance of building customer relationships early to capitalise on the opportunities.Ray Shinzawa, Managing Director, JCB International (Europe) Ltd., commented: "The Indian market is growing at a rapid rate and boasts one of the world's fastest-growing economies.[11] This is providing opportunities for merchants and acquirers outside of South Asia to grow their presence in the region and unlock the potential it, and its population of over 1.4 billion people, has to offer.[12] JCB's place in the payment ecosystem means we are well-positioned to help our European merchants and acquirers navigate and make their mark in this vast region" he continued.Satoru Mori, Managing Director, JCB Card International (SouthAsia) Private Ltd., said: "There is a real opportunity for European merchants and acquirers to have success in the Indian market. The region is putting significant time and resources into embracing a digital outlook and this benefits modern payment methods. Meanwhile, the population itself is willing to spend as we emerge out of the pandemic. It is all about providing a painless and secure process that will allow individuals to trust you with their disposable income."Download and read the full whitepaper here.https://www.thepaymentshub.net/content/files/2022/11/Prosperity-Awaits---Tapping-into-the-Indian-Market.pdfAbout JCBJCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 39 million merchants around the world. JCB issues cards across various countries and regions internationally with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/MEDIA CONTACTS:JCB International (Europe) Ltd. Victoria Perea-Usher: Marketing@jcbeurope.euJCB (Head Office in Japan)Ayaka Nakajima: jcb-pr@jcb.co.jp[1] JCB Proprietary Data 2022, per JCB Card International (SouthAsia) Private Ltd.[2] JCB Proprietary Data 2022, per JCB Card International (SouthAsia) Private Ltd.[3] India consumption growth: India to have third-largest number of high income households by 2030: McKinsey Report - The Economic Times https://economictimes.indiatimes.com/news/economy/indicators/india-to-have-third-largest-number-of-high-income-households-by-2030-mckinsey-report/articleshow/86089869.cms?from=mdr[4] Digitalindia | Digital India Programme | Ministry of Electronics & Information Technology(MeitY) Government of India https://www.digitalindia.gov.in/[5] India's outbound tourism to surpass $42bn by 2024: Report - Times of Indiahttps://timesofindia.indiatimes.com/business/india-business/indias-outbound-tourism-to-surpass-42-bn-by-2024-report/articleshow/93407481.cms[6] As international travel opens up, Indians spend lavishly | Business and Economy News | Al Jazeera https://www.aljazeera.com/economy/2022/3/28/as-international-travel-opens-up-indians-spend-lavishly[7] Mobile Data In India Is Among The Cheapest Across World: See Comparison in Photos https://www.news18.com/photogallery/tech/mobile-data-in-india-is-among-the-cheapest-across-world-see-comparison-in-photos-5011783.html[8] India's e-commerce market set to increase 96 percent to $120 billion by 2025, new FIS study finds | Business Standard Newshttps://www.business-standard.com/content/press-releases-ani/india-s-e-commerce-market-set-to-increase-96-percent-to-120-billion-by-2025-new-fis-study-finds-122030200987_1.html[9] Top 10 Ecommerce Sites in India - Ecommerce Guide https://ecommerceguide.com/top/top-10-ecommerce-sites-in-india/[10] JCB Proprietary Data 2022, per JCB Card International (SouthAsia) Private Ltd.[11] India, fastest-growing major economy, projected to grow 6.4% in 2022: UN | Business Standard News https://www.business-standard.com/article/current-affairs/india-retains-top-spot-as-fastest-growing-major-economy-un-report-122051900021_1.html[12] World Population Prospects 2022: Summary of Results https://www.un.org/development/desa/pd/sites/www.un.org.development.desa.pd/files/wpp2022_summary_of_results.pdf Copyright 2022 JCN Newswire. 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The Logic Behind Fosun’s “Weight-loss” Actions: To Focus on the Core Businesses and Deepen Innovation and Globalization

November 16, 2022
HONG KONG, Nov 16, 2022 - (ACN Newswire via SEAPRWire.com) - Over the past few months, successive "Weight-loss" actions by Fosun International (HKEX: 00656) have come under the spotlight in the capital market.On the evening of 6 November 2022, Yuyuan Inc., a subsidiary of Fosun International, announced its proposal to transfer 654 million shares, or a 20% equity stake, in Zhaojin Mining Industry Co., Ltd. ("Zhaojin Mining") to Jinshan (Hong Kong) International Mining Co., Ltd., a wholly owned subsidiary of Zijin Mining for a total consideration of HK$4.395 billion. In addition to Yuyuan Inc.'s previous stake reduction in Zhaojin Mining on the secondary market in September 2022, Yuyuan Inc.'s shareholding in Zhaojin Mining would be declined to 1.26%. On 19 October 2022, Fosun proposed to transfer 60% of the equity of Nanjing Iron & Steel United Co., Ltd. ("Nanjing Nangang") to Shagang Group at a total consideration of no more than RMB16 billion.Gearing up for Strategic TransformationAfter its investment in both Nanjing Nangang and Zhaojin Mining for a long period of time, the successive proposed disposals of its equity stakes in the two companies are expected to generate a total of RMB20 billion in return of funds. Considering the proceeds from the disposals and the dividends received from the two companies over the past 20 years, the divestments have proven quite successful in terms of return on investment. However, we cannot simply explain Fosun's recent disposal of its assets and partial equity stakes by an ordinary logic in investment.Fosun's divestments are aimed at effective debt control and enhanced capital security. Through an accelerating strategic business transformation and disposal of certain assets, Fosun is able to focus on its core business of fast-growing family consumption.The market has viewed Fosun's recent divestments favorably. A number of investment banks, including Morgan Stanley, Citi and Goldman Sachs, have issued research reports that support Fosun International in its recent moves and reiterated their "buy" ratings on the company. They expected Fosun's disposal of its non-core assets in an effort to decrease its debt-to-equity ratio, mitigate the concerns about its liquidity, streamline its asset portfolio and focus on its core businesses. Citi mentioned in its research report that after a number of mergers and acquisitions, spin-offs and disposals of non-core assets, Fosun has become a more diversified conglomerate with an asset-light business model that is well-positioned to benefit from the increasing discretionary spending by Generation X in China. In Citi's view, the successful disposal of shares in Nangang at the right price is the right thing to do as it will enable Fosun to redeploy its resources for better uses.Fosun's Successful Exit Strategy Creates "Win-Win"The Shagang Group's share price hike hit the limit to trigger suspension of trading on the stock market on the day when news about Fosun's disposal of shares in Nanjing Nangang was released. Zijin Mining's share price surge also hit the limit to trigger suspension of trading on the stock market when the word was out that it would acquire shares in Zhaojin Mining for a consideration of RMB4 billion. According to people closed to Fosun's disposal of Nanjing Nangang shares, there were nearly 20 prospective buyers who bid for the equity stake. Fosun gave preference to those potential partners who would facilitate the long-term development of Nanjing Nangang, hoping that the transaction would benefit all parties involved. In Zijin Mining's public statement about its acquisition of Zhaojin Mining, Zijin Mining said that after it became the second largest shareholder of Zhaojin Mining, the two parties would be able to give their respective advantages full play, further consolidating and enhancing both companies' positions in the global gold mining industry.After its "Weight-loss" actions, Fosun will continue to grow and strengthen its well-established business segments, including health, happiness and wealth. For instance, Fosun will concentrate more resources on the research and development of innovative drugs by Fosun Pharma, the development of "Grand Yuyuan" and the growth of Shede Spirits, etc. In the long run, there is huge room for growth in China's consumer market. Focusing on its main businesses and taking measures to consolidate its role in the real economy is undoubtedly a thoughtful decision made by Fosun on surmounting the volatility of an economic cycle.Recently, Fosun Pharma, Yuyuan Inc., Nanjing Iron & Steel and Hainan Mining, which are the four listed companies under Fosun, held a joint presentation of their third-quarter results for 2022 at the Shanghai Stock Exchange. Guo Guangchang, Chairman of Fosun International, attended the presentation through a video conference and said that technology innovation and China's opening-up to the global market at a higher level held the key to fostering a new development pattern. In order to grasp emerging opportunities, Fosun will "focus on its core businesses, deepen innovation and globalization". Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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