Ex-Singapore Parliamentarian’s Swiss Company Launches Swiss Franc and Euro Stablecoins

Singapore investor and former parliamentarian Calvin Cheng’s newly rebranded Swiss company, Anchored Coins, was granted membership in the Swiss VQF in early 2023.
VQF is the largest and oldest cross-industry self-regulatory organisation in Switzerland and is officially recognised by FINMA, the country’s financial services watchdog.
Anchored Coins is launching a Swiss Franc-backed stablecoin (ACHF) and a Euro-backed stablecoin (AEUR), and will be issued on the Ethereum and BNB Chain blockchains.
DCS Card Centre in Singapore is planning to issue credit cards collateralised by AEUR and ACHF.

ZURICH, SWITZERLAND, Aug 16, 2023 – (ACN Newswire) – Singapore investor and former parliamentarian Calvin Cheng has announced that his wholly-owned, newly rebranded Swiss company, Anchored Coins AG (“Anchored Coins”), will be issuing two stablecoins – a Euro-backed stablecoin AEUR, and a Swiss Franc-backed stablecoin ACHF. Both stablecoins will be backed 1-to-1 by their respective fiat currencies and held in Swiss banks. The stablecoins will be issued on the Ethereum and BNB Chain public blockchains.

Earlier this year, the company was granted membership in the Swiss VQF, which means it has to comply with Swiss anti-money laundering obligations.

Calvin Cheng, Chairman of Anchored Coins said, “Switzerland has very clear regulatory guidelines for the issuance of stablecoins. The reputation of Swiss banks is also second to none. There is a clear need for stablecoins to be pegged to currencies other than the US Dollar, given the regulatory uncertainty in the US. I feel this is the right time and right place, to launch highly compliant stablecoins in two other well-regarded global currencies, the Swiss Franc, and the Euro.”

Cheng further added that his company will comply with the European Union’s new Markets in Crypto Assets (“MiCA”) regulations once they come into effect in 2024.

Anchored Coins announced a partnership with DCS Card Centre (“DCS”) in Singapore. Formerly known as Diners Club Singapore, DCS is a 50-year-old financial institution that pioneered the issuance of credit cards in the Republic. Through this collaboration, DCS will accept ACHF and AEUR as a form of collateral placement for credit limits on its cards, thereby enhancing the value and utility of both stablecoins.

Karen Low, CEO of DCS said, “We believe that stablecoins are crucial in bridging digital assets to traditional finance. DCS aims to lead the charge on connecting Web2 and Web3 with integrated payment experiences that are co-created through partnerships. We are proud to partner with Anchored Coins in providing immediate value to their stablecoin holders by using ACHF and AEUR as collateral for instant credit limits on the cards we issue. We currently offer a choice of cards from global payment networks including Diners Club International, Mastercard, UnionPay and soon, Visa.”

Anchored Coins is in the process of launching, and will only be available to institutional partners during the first phase of its development. The company is also in advanced discussions with major digital asset exchanges to be listed.

ABOUT CALVIN CHENG

Calvin Cheng is currently the Republic Of Serbia’s first Honorary Consul to the Republic of Singapore. Cheng was a former appointed Member of Singapore’s Parliament, and a Young Global Leader of the World Economic Forum.

Cheng is a serial entrepreneur, formerly the President of Elite Models for Asia, as well as a director of Singapore’s largest luxury events management company Lumina. He was most recently Chairman of Australia Stock Exchange (ASX)-listed EdTech firm ReTech Technology Co, which he led to an Initial Public Offering, together with leading investors from China, including several co-founders of Alibaba, and other Chinese tech companies.

ABOUT DCS CARD CENTRE

DCS Card Centre Pte Ltd (“DCS”), formerly known as Diners Club Singapore is a financial institution governed by the Monetary Authority of Singapore (MAS) under the Banking Act to carry on the business of issuing credit cards or charge cards in Singapore. Established in 1973, DCS was amongst the founding institutions that pioneered cashless payments with its first series of credit and charge cards in Singapore.

As part of its name change in October 2022, the financial institution embarked on a massive business transformation to expand its network of payments schemes and new payment solutions. Along with a set of new shareholders and a leadership team helmed by industry veterans, DCS has since achieved remarkable milestones. These include an expansion of schemes from just Diners Club International to include Mastercard, UnionPay and Visa, as well as the launch of new solutions such as D-Vault, a feature for cardholders to seamlessly aggregate their assets through funds transfers and digital assets for instant spend limits, and a whole new DCS cards app that enables several card management services to ease customer convenience.

For more information about Anchored Coins AG, please visit: https://www.anchoredcoins.com

For media inquiries and interview requests, please contact:
Tang Hong Ee (Financial PR)
(T) 6438-2990
(E) hongee@financialpr.com.sg

Impro Precision: Interim results continue to improve, stock price rises amid adversity, and US peer also climbs to new high

HONG KONG, Aug 16, 2023 – (ACN Newswire) – Impro Precision (01286.HK), the world's sixth largest independent and China's largest investment casting manufacturer, announced its 2023 interim results last week. Sales increased by 9.7% year-on-year to HK$2.4 billion, while net profit rose by 13.3% year-on-year to HK$300 million, which is no mean feat considering the various unfavorable factors at play, including a sluggish China economy which saw a good start earlier in the year, sales dampened by the Nantong plant which had not resumed production following the fire, higher depreciation costs of the new plants in Mexico as they are still in the ramp-up stage, and currency appreciation, and increase in finance cost.

By end-market, sales to the aerospace, energy and medical end-markets amounted to HK$320 million, a 67.3% surge year-on-year. The strong growth was mainly attributable to the rebound of the global aerospace market boosting both mass production of new products and market share of the Company. The acquisition of Foshan Ameriforge last year also brought significant synergies, helping bolster business of the aerospace end-market, as well as brace the 230.5% soar in sales of the energy end-market. As for the diverse industrial end-markets, total sales amounted to HK$1.18 billion, up 10.5% year-on-year. The high horsepower engine end-market in particular, which benefited from the increasing demand for large power equipment, saw a 20.7% year-on-year increase in sales. The construction equipment and agricultural equipment end-markets registered had sales up by 27.7% and 16.3% year-on-year, respectively, thanks to the rise in demand recorded by the hydraulic orbital motor business, which the Company acquired in the second half of last year, and for construction equipment in the US. Sales to the automotive end-markets totaled at HK$900 million. The commercial vehicle end-market in Europe and the Americas recorded sales growth of 5.5%, partially offsetting the impacts from the decline in business in China's passenger car end-market and the production halt at the Nantong factory after the fire.

The outlook is bright for the company. As of July 31, 2023, the company's total orders in hand to be fulfilled in the next twelve months reached HK$4,046 million, a year-on-year increase of 11.4%. Impro Precision's pre-emptive layout of the aerospace business is expected to achieve high, continuous growth upon full recovery of the global aerospace market. The precision machining, sand casting, and investment casting plants in Mexico have commenced operation, while the aerospace component plant and surface treatment plant will begin production next year, further enhancing the company's global service capabilities.

Following a bottoming out of the company's share price at HK$1.68 in March 2022, bullish momentum has been demonstrated, in complete contrast to the weak Hang Seng Index during the same period. At present, the company's share price consolidates at a high level and has support above the stock year line. The moving average has retreated slightly and is waiting for a further increase. Obviously, the market recognizes the intrinsic value of the company, as reflected by the share price divergence from market trend.

By comparison, the company's peer, Howmet Aerospace Inc. (NYSE: HWM), which mainly produces components for the aviation and transportation industries, has seen its share price hitting record highs since April 2020, confirming the industry's strong prosperity and good profitability. The dynamic price-earnings ratio is as high as 38x, which shows that investors are extremely optimistic about Howmet Aerospace's development. Impro Precision's P/E ratio is only 8.6x after its listing, hence there is still tremendous room for growth.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Kingworld Further Subscribed For 2.08% Equity of Taiko Pharmaceutical To Optimize Its Layout of Pharmaceutical Industry

HONG KONG, Aug 16, 2023 – (ACN Newswire) – Kingworld Medicines Group Limited ("Kingworld Medicines" or the "Group", stock code: 01110.HK), a leading healthcare distribution company, announced on 15th that the Group plans to further subscribe for the shares of Taiko Pharmaceutical Co., Ltd. ("Taiko Pharmaceutical," stock code: 4574.JP) at a price of 338.58 yen per share (equivalent to approximately 18.35 Hong Kong dollars). The additional subscription will involve 1,007,500 shares of Taiko Pharmaceutical and representing approximately 2.08% of the enlarged issued share capital of Taiko Pharmaceutical. The total consideration for this transaction value amounts to 341,119,350 yen (equivalent to approximately 18,488,669 Hong Kong dollars). After this acquisition, combined with the previously subscribed shares, the group will collectively totally hold 3,185,900 shares of Taiko Pharmaceutical, representing approximately 6.42% of the enlarged issued share capital of Taiko Pharmaceutical.

Established in 1946, Taiko Pharmaceutical is a renowned pharmaceutical company in Japan, specializing in manufacturing and sales of pharmaceutical products and infection management (sanitation control) products. A key asset of its portfolio is the famous and long-standing, "Taiko Seirogan" brand, renowned for its effectiveness and over 120 years of history. Since its establishment in 1996, Kingworld Medicine has been the sole general distributor of the Taiko Seirogan in China, significantly contributing to expanding the domestic sales volume of Taiko Seirogan. Notably, in the past two years, there has been a significant 64% domestic market growth in 2022. Over time, Taiko Seirogan has become one of the best-selling flagship product of the Group.

As a leading enterprise in the field of greater health dedicated to the import and distribution of branded pharmaceutical and healthcare products, the Group remains committed to investing in the pharmaceutical and health industry. The increased stake in Taiko aligns with the Group's Fifth Five-Year strategic plan and operational objectives. The Group will continue consolidating its existing business and actively expand its upstream supply chain traceability cooperation with partners such as Hong Kong Foci Pharmaceutical Co., Ltd. and Taiko Pharmaceutical. The Group will focus on building the Longde health industry ecosystem to establish a comprehensive supply chain system within the pharmaceutical and greater health industry, expanding the Group's industry footprint.

Mr. Zhao Lisheng, Chairman of Kingworld Medicines Group, stated, "After Kingworld Medicines Group acquired a stake in Taiko Pharmaceutical in April this year, synergies between the two parties have enhanced operational quality and efficiency. The Group is committed to deepening cooperation with Taiko Pharmaceutical and leveraging this additional subscription to foster mutual growth. After the acquisition, the Group will continue to strengthen its position in the market for Taiko Seirogan, consolidating its brand presence. In the future, the Group will also explore related resources of Japanese herbal medicine to enrich the company's product portfolio and cultivate new avenues for profit growth. Therefore, investing in Taiko Pharmaceutical will assist the company in optimizing its industry layout, preserving and promoting traditional Chinese medicine formulations, and ultimately contributing to public health advancement."

Furthermore, in 2021, Kingworld Medicines invested a 49% stake in and operated Foci Hong Kong in partnership with Lanzhou Foci. During the collaboration, the Minshan brand series of products within the Hong Kong market saw exceptional growth. In 2022, Kingworld Medicines Group acquired Innopharm in France, officially expanding its European market. This increased stake in Taiko Pharmaceutical propels the expansion of the Group's upstream supply chain, promoting strategic synergy across the industry chain and enhancing international brand competitiveness and sales scale.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Pioneering Synergy of Innovation and Purpose: The Futurist Showcase at the Pierce School Penthouse Featuring Global Cannabis Holdings and Avi8ted Ventures

Washington, D.C., Aug 15, 2023 – (ACN Newswire) – The stage is set for a symphony of innovation and purpose as the Futurist Showcase takes center stage August 18, at 7:15 p.m.

Photo by Anthony Hampton

This exclusive event, a convergence of luminaries, will spotlight two trailblazing enterprises — Global Cannabis Holdings (GCH) (https://globalcannabisholdings.lu) and Avi8ted Ventures (https://avi8tedthoughts.com). These visionary companies are poised to reshape industries and redefine societal progress, all against the backdrop of the exquisite Pierce School Penthouse, a residence synonymous with entrepreneurial spirit and forward-thinking excellence.

The visionary forces behind the Futurist Showcase are entrepreneurs Charlton Woodyard II, CEO of Avi8ted Ventures, and Brock Pierce, the President of the Bitcoin Foundation, whose remarkable journey spans technology, real estate, and social impact. Pierce's commitment to pioneering change and igniting community empowerment finds a fitting home in the profound ambiance of the Pierce School Penthouse. "Brock Pierce is an inspiration to any builder with his ability to make change happen across the world in every industry he touches. We are incredibly grateful that he has opened his home to us for this amazing opportunity to present our mission to the world," said David Luftglass, Chairman, Global Cannabis Holdings.

An assembly of Washington, D.C.'s foremost leaders, policy architects, artistic trailblazers, investors, educators, and catalysts for change will grace the gathering. Hosted at the largest penthouse in the city, The Pierce School Penthouse, this event creates an unparalleled platform for collaborative engagement, fostering the coalescence of ideas and collective growth. The Showcase's compelling mission, empowering individuals to champion change in their communities, resonates profoundly in the context of this prestigious locale.

In an era where innovation and purpose dictate the trajectory of tomorrow, the Futurist Showcase stands as a beacon of transformative potential. From the heights of the Pierce School Penthouse, a space resonating with entrepreneurial verve, this event catalyzes more than dialogue; it ignites a movement.

About Avi8ted Ventures

Avi8ted Ventures is a dynamic and innovative force at the intersection of real estate, technology, and culture. More than a social network, Avi8ted Ventures operates as an experimental ecosystem where the physical and digital realms merge, fostering a sustainable impact ecosystem. By harnessing the collective power of real estate, technology, and culture, Avi8ted Ventures initiates a global movement of change, driving innovation, collaboration, and social progress. As a platform where ideas materialize, pioneers unite, and the future takes shape, Avi8ted Ventures empowers individuals, transitions humans to beings, and facilitates transformative journeys of lasting impact.

About Global Cannabis Holdings (GCH)

Global Cannabis Holdings (GCH) began in Uruguay as a pioneering force in the international cannabis sector. With a groundbreaking tokenized portfolio of cannabis companies, GCH is redefining the future of this rapidly growing industry. GCH has obtained ownership in 38 companies across 6 countries, all wrapped up into one entity, offering a diversified approach to investing in cannabis. The holdings include everything from a six square kilometer production project in Uruguay, to the top distributor in Brazil, and the largest extraction group in California. With a visionary, forward looking approach, GCH is poised to catalyze change on a global scale by embracing the remarkable possibilities of cannabis. GCH recently underwent its public launch in the Luxembourg market via the STOKR platform, the first registered Security Token Exchange in the European Union. For more info on the launch please check out www.stokr.io/global-cannabis-holdings

For media inquiries, interviews, and additional information, please contact:
Avi8ted Ventures
Charlton Woodyard II
(202) 888-5326
Info@av8t.co

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

AcroMeta’s Laboratory Construction Business Rides on Singapore’s Pandemic Readiness Strategy

SINGAPORE, Aug 15, 2023 – (ACN Newswire) – ACROMETA Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, announced today that its wholly-owned subsidiary company Acromec Engineers Pte Ltd has been awarded a S$19 million contract for the design and construction of a 1,500 sqm high containment biosafety level research laboratory.

The facility is designed for research on highly infectious pathogens potentially carried by infected animals and spread through airborne transmission.

The state-of-the-art project involves the construction of a high containment biosafety laboratory using modular panels for both reliability and durability to withstand long periods of hard usage and repeated commissioning. Construction would be carried out in a 'live' building with many existing tenants without affecting their operations. The facility is expected to be completed and certified by 2024 and will be compliant with WHO and MOH high containment facility standards.

Mr Lim Say Chin, ACROMETA's Executive Director and Chief Executive Officer, commented: "The award to Acromec is a testament to our engineering experience and capabilities. With its expertise and established track record in controlled environments engineering, AcroMeta is positioned to benefit from the construction of such laboratories as governments in the region strengthen their biomedical R&D capabilities to counter threats from infectious diseases."

Acromec, the wholly-owned engineering subsidiary of the Group, is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments. It has designed and built several high biosafety level R & D laboratories and manufacturing facilities for biomedical companies, such as 10X Genomics, Integrated DNA Technologies, and GenScript.

Research laboratories a vital link in Singapore's pandemic readiness strategy

Singapore emerged from the Covid-19 pandemic as one of the countries that scored high marks for its handling of the crisis. Every aspect of the pandemic was systematically studied, monitored, and appropriate actions taken – from procurement and cold storage of vaccines for the entire resident population, to laboratory testing and identification of each mutated variant of the virus as it evolved.

But the pandemic also revealed the need for Singapore to be prepared for future pandemics. The government has implemented the findings of the Covid-19 White Paper published on 8 March 2023 which detailed the 7 lessons to be learned from the pandemic and implemented a pandemic readiness strategy. The strategy takes a whole-country approach and involves participation by, and collaboration with the private sector as well as with the entire population.

Mr Levin Lee Keng Weng, ACROMETA's Executive Chairman, added: "Laboratories for the testing, identification and carrying out of research with live virus is a vital link in the Singapore government's preparedness strategy for future pandemics. These laboratories are not standard laboratories but highly specialised facilities; the design and construction of which can only be done by a handful of controlled environments experts such as Acromec."

This media release has been reviewed by the Company's Sponsor, Evolve Capital Advisory Private Limited. It has not been examined or approved by the Singapore Exchange Securities Trading Limited, and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

Reference:
https://links.sgx.com/1.0.0/corporate-announcements/QYHDGZS2TXQ25H0Q/cc60f5adb8665785b09fc0d7833240cd9253d57800c21ff2906079f092b27884

https://links.sgx.com/FileOpen/Acrometa-ProjectWinPressRelease_15Aug2023IDLabs%20-%20Final.ashx?App=Announcement&FileID=769346

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA's business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA's customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The Company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:

ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg, query@waterbrooks.com.sg

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Yuexiu REIT Demonstrates Asset Resilience, High-Quality Assets Enhance Defensiveness, Strong Fundamentals Foster Long-Term Value

HONG KONG, Aug 15, 2023 – (ACN Newswire) – Yuexiu Real Estate Investment Trust ("Yuexiu REIT", together with Yuexiu REIT Asset Management Limited, collectively known as the "REIT"; stock code: 405) announced its interim results for the six months ended 30 June 2023.

Yuexiu REIT Management-Mr. LIN Deliang, Chairman, CEO and Exe. Director (3rd left); Ms. OU Haijing, Deputy CEO and Exe. Director (2nd left); Mr. KWAN Chi Fai, CFO (4th left); and Mr. JIANG Yongjin, IR Director (1st left)

2023 Interim Results Summary:
– Overall operation grew steadily, with total revenue of RMB1,061 million, representing a 12.4% year-on-year increase.
– Distribution of approximately RMB0.0541 per unit, equivalent to approximately HK$0.0590 for the period. This represents an annualized distribution yield of 7.07%.
– As at 30 June 2023, the overall occupancy rate of the properties was approximately 84.0%.

Guangzhou International Finance Center (GZIFC):
– Tapped into potential demand for offices and attracted well known enterprises, enriching business types, attracting customer traffic and organizing promotions for the shopping mall.
– Interim operating revenue of the GZIFC complex was RMB503.8 million, accounting for 47.4% of the REIT's total revenue.
– GZIFC is committed to building a medium-to-long-term stable tenant structure, and the proportion of high-quality tenants increased by 2.9%, with an average renewal period of four years and a 2.7% increase in renewed rent.
– With precise investment in promotional activities to facilitate business operations, GZIFC Shopping Mall recorded a year-on-year increase of 24% in customer traffic and a year-on-year increase of 13% in sales in the first half year.
– Overall performance of the hotel and serviced apartments rebounded significantly and continued to set benchmarks for the market. Four Seasons Hotel and Ascott Serviced Apartments saw year-on-year increases in their average occupancy rates and average room rates.

Yuexiu Financial Tower:
– Securing high-quality tenants and expediting business solicitation.
– Yuexiu Financial Tower posted an operating revenue of approximately RMB200.2 million, representing 18.9% of the REIT's total revenue. Occupancy rate stood at 89.1%.
– Top 100 central enterprises and industry leaders were successfully introduced, thereby further stabilizing the high-quality tenant base.

Active optimization of debt structure and effective reduction of financing cost
– Completed the issuance of the first tranche of RMB1.5 billion Shanghai Free Trade Zone Bonds with a coupon rate of 4.15% in March for the repayment of matured debt. To ensure effective control of liquidity risk, withdrew the first tranche of RMB1.5 billion of the RMB4 billion cross-border direct loans in June to refinance the maturing financing during the year in advance.
– Taking advantage of the spread window of the domestic and offshore financing cost, the REIT replaced the existing offshore foreign currency financing with RMB loans, thereby reducing the overall financing cost. Interest rate exposure is expected to drop to 48% upon completion of the loans replacement. At the end of June 2023, the REIT's average financing cost was 4.90%, representing an increase of 7 basis points from 4.83% at the end of 2022.

Yuexiu REIT Asset Management Limited (the "Manager") has declared a distribution of approximately RMB0.0541 per unit, equivalent to approximately HK$0.0590 (2022 first half: approximately RMB0.0734 which was equivalent to HK$0.0853) to unitholders for the 2023 Interim Period. Based on the closing price of HK$1.67 per unit as at 30 June 2023 (closing price as at 30 June 2022: HK$3.06), the yield is approximately 3.54% (2022 first half: 2.79%). This represents an annualized distribution yield of 7.07%.

Mr. LIN Deliang, Chairman, Chief Executive Officer and Executive Director of Yuexiu REIT, said: "In the first half of 2023, Yuexiu REIT adhered to innovation and change and strived to achieve long-term commercial value in the face of various post-pandemic economic challenges. By focusing on leisure consumption, the hotels and apartments' overall operations have returned to the pre-pandemic levels; customer flow in the retail shopping malls have recovered and grown steadily; the operations of specialized wholesale market has steadily recovered; and the office buildings' performance remained stable in the declining demand market. Yuexiu REIT is committed to creating good results for unitholders."

Guangzhou International Finance Center (GZIFC)
GZIFC is committed to building a medium-to-long-term stable tenant structure, and the proportion of high-quality tenants increased by 2.9%. During the first half year, it focused on tapping into the demand of existing high-quality tenants for expansion of lease area. Meanwhile, by utilizing various resources, top-notch professional services and financial companies were successfully introduced. In the face of intense competition for customers, GZIFC actively retained high-quality tenants and renewed their leases, with the renewal rate of key tenants reaching 100% in the first half year. Well-known tenants such as Societe Generale, Bank of Taiwan and Mango TV renewed their leases with an average renewal period of four years and an increase of 2.7% in the renewal rent.

The GZIFC Shopping Mall introduced Taishen, the first Southeast Asian cuisine brand from Chang Lai Catering Group, and Gyen Hutong, a high-quality barbecue chain brand. Together, these brands helped to increase the per customer transaction of catering tenants and laid the foundation for introducing restaurants listed in the Michelin Guide and the Black Pearl Restaurant Guide. In addition, the Mall introduced its first cha chaan teng (Hong Kong style restaurant), Tang-dao, and the first Korean restaurant featuring rice mixed with soup, FUSION. The result is an optimized catering mix on the B1 floor to better meet the needs of CBD white-collar workers by offering quality and convenient meals. A normalized coordination mechanism has been substantially established to integrate resources of various business formats and attract traffic in a targeted manner. With precise investment in promotional activities to facilitate business operations, the Mall recorded a year-on-year increase of 24% in customer traffic and a year-on-year increase of 13% in sales in the first half year.

Capitalizing on demand from the leisure tourism market during the Spring Festival and Labour Day holidays, as well as opportunities brought by the resumption of large-scale exhibitions, Four Seasons Hotel actively developed the foreign customers market. In the first half of 2023, the average occupancy rate of the Hotel was 79.5%, representing a year-on-year increase of 26.9 percentage points. The average room rate was RMB2,202, a year-on-year increase of 41.3%. Over the same period, the average occupancy rate of Ascott Serviced Apartments reached 90.3%, representing a year-on-year increase of 6.1 percentage points. The average room rate was RMB1,101, a year-on-year increase of 10.7%.

Yuexiu Financial Tower
During the first half year, Yuexiu Financial Tower completed the lease renewal of approximately 20,000 sq.m., with the overall lease renewal rate reaching 86.1%, the key tenants renewal rate reaching 94%, and renewal rent increasing by 6%, enabling a more stable lease structure and growth in rental income. Customized renovation services were provided to cater for the needs of prospective tenants, and the renovated units recorded a high sell-through rate of 92%, which greatly enhanced product competitiveness, promoted the conversion rate of business solicitation and improved customer satisfaction.

White Horse Building
White Horse Building capitalized on the market recovery to expedite business solicitation and conversion, and introduced customer group from the key market to settle in. In the first half of 2023, newly contracted area totaled 9,183 sq.m., and the occupancy rate increased by 9.2 percentage points to a level above 90% compared with the end of 2022. White Horse Building innovated its marketing model, improved its operational supporting capabilities, and took the initiative to seek and utilise government resources to expand media exposure and further strengthen its industry influence.

Fortune Plaza and City Development Plaza
Targeting business customers, these two projects implemented product transformation to enhance their competitiveness, with the current sell-through rate of renovated units reaching 78.3%, effectively promoting business solicitation and leasing. In the first half year, Fortune Plaza successfully engaged its existing tenant, zhenai.com, to expand its lease area. The Plaza also renewed leases with tenants such as Master Meditech and Cambodia Airways, and introduced a number of enterprises including Nuoxun Human Resource and Egypt TEDA, thus continuing to optimize the tenant structure. In May, City Development Plaza successfully introduced a high-quality customer, Pufanglimin, to take up the units on the 26th floor, seamlessly transitioning the area for which the lease was previously terminated.

Victory Plaza
Leveraging on brand marketing and resource coordination, Victory Plaza recorded a year-on-year increase of 38% in the mall's customer flow, and a 22% year-on-year increase in sales in the first half year, while its anchor customer, Uniqlo, recorded a year-on-year increase of 19% in sales during the same period. The Plaza proactively managed operating risks by removing high-risk customers which previously occupied an area of approximately 350 sq.m., and seamlessly introduced two high-quality, emerging brands in the first half year, resulting in an increase of 17.6% in the first-year rent of new contracts. In addition, Uniqlo's lease was renewed in advance to stabilize the project's operation.

Shanghai Yue Xiu Tower
Shanghai Yue Xiu Tower implemented flexible leasing policies, creating customized renovated units to enhance customers' office experience. In the first half year, newly contracted area increased by 5% year-on-year to 1,200 sq.m., while the renewed leasing area reached 3,000 sq.m., greatly contributing to its stable customer resources.

Wuhan Properties
Yuexiu Fortune Centre improved on its business solicitation strategies. In terms of product optimization, new, small and medium-sized units were provided by way of capital renovation, enriching the range of products offered to customers. In terms of new contracts, the Centre catered for demands from existing high-quality customers (such as Guangxin Communication) for expansion of leased areas, securing over 10,000 sq.m of newly contracted space during the first half year. In terms of lease renewals amidst the challenging market environment, high-quality customers such as Prolog, AVIVA-COFCO and New China Life and Midea completed their lease renewals, covering an area of 12,300 sq.m.

In the first half of the year, Starry Victoria Shopping Centre entered into contract with 11 brands, with a contracted area of nearly 4,000 sq.m., thus promoting the overall business image and quality of Hall A. With a view to assist tenants in stabilizing their operations, the Centre carried out marketing activites with carpark support for tenants who bore high rents. Management of lease renewal was strengthened, and a high renewal rate of 81.8% in the first half year was achieved, with an increase of 24.2% in effective rents during the contract period. Tenants which are engaged in diversified operations, such as Muji, were also introduced to complement the existing range of tenants and enrich the business atmosphere of the shopping mall.

Hangzhou Victory
Hangzhou Victory strengthened its lease management and actively renewed the expiring lease area, successfully introducing a top enterprise, 100 Million Mainstay Companies, to the portfolio, which leased two entire floors with a total area of 2,500 sq.m. Lease renewal for an enterprise related to the China Railway Group on the seventh floor was successfully completed, with an increase of 4.9% in the effective rent of the renewed lease. The overall occupancy rate of the building increased by 5.8 percentage points year-on-year to 99.2%.

Prospects
Facing the challenges of the slow recovery of the post-pandemic economy and the uneven recovery paces across industries, the Manager will remain committed to elevating operational capabilities, optimizing the business model, enhancing product competitiveness, vigorously stabilizing business and attracting investment, providing omni-channel development of tenant resources, and further stabilizing the base of high-quality tenants. The Manager will also continue to explore financing opportunities in the capital market, effectively reduce financing costs, and so as to bring stable returns to unitholders.

About Yuexiu Real Estate Investment Trust
Yuexiu Real Estate Investment Trust ("Yuexiu REIT") was listed on the Hong Kong Stock Exchange of Hong Kong Limited on 21 December 2005 and is the first listed real estate investment trust only investing in properties in the People's Republic of China (the "PRC") in the world. The current property portfolio comprises ten high quality properties, namely Guangzhou International Finance Center, White Horse Building, Fortune Plaza, City Development Plaza, Victory Plaza, Yuexiu Financial Tower in Guangzhou, Yuexiu Tower in Shanghai, Wuhan Properties in Wuhan (including Wuhan Yuexiu Fortune Centre and Starry Victoria Shopping Centre), Victory Business Centre in Hangzhou and Yuexiu Building in Hong Kong, with a total area of ownership of approximately 1.184 million sq.m. All properties are located in the central business district of Guangzhou, Shanghai, Wuhan, Hangzhou and Hong Kong respectively. The categories of the properties include Grade-A offices, commercial complexes, retail business, hotel, serviced apartments and professional clothing market etc.

For media enquiries:
Strategic Financial Relations Limited
Vicky Lee Tel: +852 2864 4834
Phoebe Leung Tel: +852 2114 4172
Lilia Yang Tel: +852 2864 4833
Email: sprg_yx@sprg.com.hk
Website: http://www.sprg.com.hk

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Countdown Begins for WCIT|IDECS 2023: Unlocking the Potential of the Innovative Tech Industry and Digital Economy

KUCHING, MALAYSIA, Aug 15, 2023 – (ACN Newswire) – The 50-day countdown has begun for two highly-anticipated international technology congresses, the 27th World Congress on Innovation and Technology and the 6th International Digital Economy Conference Sarawak, collectively known as WCIT|IDECS 2023. Hosted by the Sarawak Government, the event is set to bring together visionaries, experts, and industry leaders from around the world, and is scheduled to take place simultaneously on 4-6 October 2023 at the Borneo Convention Centre Kuching (BCKK), Sarawak, Malaysia.

The Honourable Datuk Haji Julaihi Bin Haji Narawi, Minister for Utility and Telecommunication Sarawak (MUT) giving his welcome remarks at WCIT|IDECS 2023 50-Day Countdown

Present today to officiate the countdown launch event of WCIT|IDECS 2023 was Yang Berhormat (YB) Datuk Haji Julaihi Bin Haji Narawi, Minister of Utility and Telecommunication (MUT) Sarawak.

Speaking at the countdown launch event, YB Datuk Haji Julaihi said, "On behalf of the Sarawak Government, we are pleased to announce the countdown to WCIT|IDECS 2023. Final preparations for the Congress are underway, and WCIT|IDECS 2023 promises to set the stage for Sarawak to be a catalyst to accelerate sustainable development and economic prosperity for the businesses, communities and the nation. The convergence of both WCIT and IDECS makes the event a unique platform to bridge the gap and create opportunities to build a business environment and ecosystem driven by innovation, technology and sustainability."

WCIT|IDECS 2023 is expected to convene more than 10,000 attendees comprising industry experts, policymakers, and entrepreneurs from more than 80 countries around the world. Already, there are prominent speakers participating from over 22 countries. The event will explore thought-provoking discussions and provide an unparalleled opportunity to explore the latest trends, technologies and business models in the digital economy. Featuring a comprehensive programme and events comprising conferences, exhibitions, a Smart Cities masterclass, a Startup Village, a Global Leaders Round Table, business matching sessions, and a gala dinner awards night, WCIT|IDECS 2023 aims to explore various facets of the digital economy and its transformative impact on industries, business models, communities and the people.

Themed "Fulfilling the Promise of the Digital Age: Innovation and Technology Driving Economic Prosperity, Social Inclusivity & Environmental Sustainability" and "Advancing Digital Economy for Sustainable Development" respectively, WCIT|IDECS 2023 will see the Sarawak Government hosting keynote addresses, multidisciplinary plenary discussions, and networking sessions to facilitate international collaboration, knowledge and insights exchange around key topics such as artificial intelligence (AI), sustainability, 5G, autonomous, diversity & inclusivity, smart cities, global ICT policy, and space tech.

"WCIT 2023 is a global platform that not only drives innovation but also stimulates investment and interest
in the tech industry," said Dr Sean Seah, Chairman of WITSA. "In October, the trailblazers of the tech industry will be in Kuching, making Sarawak a focal point of global tech and innovation. The event will be welcoming international tech luminaries and stakeholders, and spotlighting Sarawak as a thriving hub of digital transformation." he added.

Host association PIKOM Chairman Ong Chin Seong encourages tech players from abroad and peninsular Malaysia to take the opportunity provided by WCIT|IDECS 2023 to discover the abundant opportunity that Sarawak and Borneo in general have to offer. "PIKOM's vision is for WCIT|IDECS 2023 to be a catalyst that will spur Malaysia's and Sarawak's Digital Economy to greater heights," he said.

In conjunction with WCIT|IDECS 2023, the Sarawak Government will also launch the inaugural She-Tech Asia Forum 2023 (the 'Forum'), which will be held on 3 October 2023. The Forum will serve as a pre-event to WCIT|IDECS 2023, with a focus on women's representation in the technology industry. The Forum aims to address the gender imbalance within the industry, serving as an impetus in shifting the gender conversation and empowering more women's participation in technology.

On the Forum, Malseni Jamal, Chief Operating Officer of SDEC said, "As the world shifts to an increasingly digitalised economy, empowering greater women participation in tech is key to fostering the continuous growth for our economy and social inclusivity. The need for action is critical, and all stakeholders across public and private sectors must come together to close the gender gap and create equal opportunities and platforms for women to play a role in advancing our digital economy aspirations."

Some of the key speakers of the Congress and She-Tech Asia Forum 2023 include:

– Mike Walsh, Futurist, Chief Executive Officer (CEO) of Tomorrow and author of three best-selling books;
– Professor Hiroshi Ishiguro, Japanese roboticist and professor at Osaka University, and ATR intelligent robotics and communication laboratories;
– Emma Yang, Founder of Timeless, three-time Carnegie Hall performer, MIT solver, and TEDx Speaker; and
– Tiffany Pham, Founder and CEO of Mogul, TV personality on TLC and History Channel, and WSJ best-selling author of 'You are a Mogul and Girl Mogul'.

YB Datuk Haji Julaihi concluded, "Sarawak is an attractive investment, business and tourism destination, and as the host of WCIT|IDECS 2023, we continue to reaffirm our commitment to advance Sarawak's vision to become a digital economy powerhouse for the country and region. The WCIT|IDECS 2023 platform will serve as one of the building blocks in advancing our digital economy agenda through innovation and technology, and is expected to create positive economic impact to the Sarawakian tech and startup ecosystem, through Foreign Direct Investments (FDI), business events and tourism, as well as sponsorships – which in turn will encourage greater job creation and business opportunities. Over the long-term, we want to be the go-to hub for investors looking to combine business with leisure, with the ultimate goal of uplifting the socioeconomics of the people."

Leading global organisations such as Huawei, Malaysia Digital Economy Corporation (MDEC), TVS, Sarawak Energy Berhad, Digital Nasional Berhad, NEC and Whale Cloud have signed on as key sponsors, Business Events Sarawak, Malaysian Technology Development Corporation (MTDC) and Maxis Berhad, among others, are supporting WCIT|IDECS 2023 as key partners. Official airline partner MAS is offering attractive discounted fares for early bird registrations.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Ganjar Pranowo driving Indonesian SMEs in Going Global

Semarang, Indonesia, Aug 15, 2023 – (ACN Newswire) – Ganjar Pranowo, the Governor of Central Java, Indonesia, is committed to driving the development of SMEs (Small and Medium Enterprises) in the region, to reach an international level. As of Q1 2023, SME export volume from Central Java had reached US$2.5 billion, resulting in a surplus of US$708 million for the province.

Central Java Governor Ganjar Pranowo is committed to the development of SMEs in the region, providing a learning platform 'Hetero Space' and funding 'Kredit Usaha Rakyat (KUR-People Business Loan) Super Mikro.' [Image: ANTARA]

During his two terms in office from 2013 to 2023, Ganjar facilitated the growth of SMEs through robust initiatives. One notable innovation was "Hetero Space," a creative hub addressing the educational needs of SMEs, offering knowledge on aspects such as bookkeeping, packaging, branding, and even photography skills required for product promotion.

Currently, Central Java has 3 Hetero Spaces for the development of SMEs and as a platform for young people to showcase their creativity, located in Semarang, Solo, and Banyumas. Hetero Spaces in Central Java have involved thousands of members: 3,000 members who have joined, 13,000 Hetero Space visitors, 500 local communities, 300 programs, 1,000 events, 15,000 SMEs, 2,500 startups, 100 companies, and 250,000 people have all benefited.

"When they start learning about bookkeeping, packaging, branding, and even when they want to promote their products, they need to learn photography. That's why we need a creative hub," he mentioned during 'Flexing Lokal', held by Google Indonesia and YouTube.

After providing a learning platform for SMEs, Ganjar moved to the next level by offering access to funding – a common challenge faced by SMEs when planning to expand. He launched the "Kredit Usaha Rakyat (KUR-People Business Loan) Super Mikro," providing access to capital with an interest rate of only 3% per year. Teaming up with Bank Jateng, this funding initiative assists SMEs in growing their businesses.

"Our task is to provide support. If the interest rate is at this level, it's not feasible. So, we try to assist them by implementing some policies, such as reducing the interest rate," Ganjar explained.

The decision to set the interest rate at 3% is the result of a lengthy process. Previously, the KUR interest rate was 12%, then 9%, and eventually, Central Java lowered it to 6%, surpassing the national KUR rate. Finally, Ganjar established the interest rate at only 3%.

These efforts led Central Java to become the largest distributor of KUR loans in Indonesia in 2022, with a loan distribution value of IDR 55.27 trillion (US$3.8 billion) in the previous year. "Thus, the role of the government is mainly to facilitate their growth," Ganjar stated.

Thanks to Ganjar's initiatives, SMEs in Central Java have now reached an international level. The best SME products, facilitated by Ganjar, have opportunities for export to Singapore, Japan, and even Europe. "For now, we're running this, curating it, and those who qualify, who have a strong market both nationally and internationally, we assist," Ganjar concluded.

Copyright (c) ANTARA 2023.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Workshop with Evident by Bravowhale Improving Data Traceability

HONG KONG, Aug 15, 2023 – (ACN Newswire) – Recently, Shanghai Bravowhale Information Technology Co., Ltd. (hereinafter referred to as "Bravowhale Technology"), China first accredited platform with the I-REC Standard Foundation, and Evident held a week-long technology docking workshop in Hong Kong, China.

A certification body that realizes technology docking

Evident and Bravowhale Technology Core Technology Team

The technical teams of both sides work together to solve the technical problems of API interface docking

The core teams of both parties discussed how to establish an in-depth communication mechanism

Bravowhale Technology R&D VP Tang Peng and Product Director Chen Xiao

The two parties discussed how to efficiently realize the I-REC technical verification and automatic issuance request submission of the international green certificate to further in-depth docking, and the cycle from the approval, registration to issuance of the I-REC international green certificate has been greatly shortened, potentially to within several hours. This work is intended to support national issues in managing large data volumes, such as meter readings down to the minute. This will help enterprises to not only improve the efficiency of I-REC registration, certification, and issuance but also provide clients with greater visibility of energy data. The goal is to support I-REC Accredited national issuers in their delivery of the highest quality, robust, and reliable data verification service.

Used by multinational and national companies around the world, I-REC provides a globally recognised framework designed to respect national requirements and markets. Within China, many foreign company branches, export companies, and international brand supply chain companies use I-REC to achieve ESG compliance at the lowest cost and with the greatest certainty through efficient and large-scale verification of green power data and automatic issuance of international green certificates, and Bravowhale Technology is now able to extend the range of services available to these organisations, as well as electricity generators, through integration with Evident's registry.

Jason Slatcher, CTO of Evident, led its UK R&D team to conduct in-depth exchanges and technical cooperation with the team of Bravowhale Technology R&D Vice President Tang Peng. Through technical docking, the technical difficulties of large-volume data submission and transmission in the process from review, registration, issuance to transaction are solved and the issuance cycle is greatly shortened.

Following feedback from the workshop, Evident CEO, Ed Everson, said that Bravowhale Technology is the first company in China to truly realize a combined hardware and software technology docking with the Evident platform and that this innovation has potential to both increase data granularity and provide additional verification for the international green certificate that can be traced throughout its life cycle, and will help a large number of companies complete the I-REC international certification with the high quality, reliable data. Whilst China is the first market being addressed, the solution can be expanded for much wider adoption.

The I-REC International Renewable Energy Certificate (International Green Certificate for short) is an internationally recognized renewable energy consumption record standard. The certificate is accepted and recognized by the Carbon Disclosure Organization, and is purchased by world-renowned large companies to verify the origin of their electricity consumption and associated carbon emission.

The I-REC international green certificate is issued by nationally appointed issuers in adherence with the I-REC Standard rules and regulations, also recognising national regulations in each country. There are over 25 nationally appointed issuers around the world (ranging from government agencies, grid operators, not-for-profit and other entities) and over 50 countries where I-RECs are available. The I-REC Standard is a non-profit foundation headquartered in the Netherlands. Accredited by the Foundation, Evident implements the I-REC for electricity certificate together with national issuers around the world.

Tang Peng, VP of R&D of Bravowhale Technology, said that the platform technology of Bravowhale Technology is universal, which can not only meet the growing demand for international green certificate issuance in the Chinese mainland market, but also help companies in overseas markets meet their ESG compliance needs. Bravowhale Technology will focus on the development of products and technologies, continuously improve its core competitiveness, expand overseas markets with excellent products and services, and participate in international competition.

As a practitioner in the field of low-carbon technology, Bravowhale Technology is committed to the I-REC international green certificate certification service. It has completed the I-REC international green certificate certification for more than 2,000 renewable energy power stations. It is expected that by the end of this year, Will break through 6000. It can supply the market with authentic, reliable, large-scale, sustainable and stable green certificate assets with high timeliness every year.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Q&M 1H2023 Core Healthcare Revenue stays resilient as the Group focuses on organic growth plans

SINGAPORE, Aug 15, 2023 – (ACN Newswire) – Mainboard-listed Q&M Dental Group (Singapore) Limited ("Q&M", the "Company", and together with its subsidiaries, the "Group") today reported total revenue of S$87.1 million, and profit after tax attributable to parent of S$5.3 million for the first half ended 30 June 2023 ("1H2023"). The Group's earnings before interest, tax, depreciation, amortisation ("EBITDA") for 1H2023 was S$18.5 million.

Core Healthcare Business revenue decreased marginally from S$83.7 million for 1H2022 to S$83.3 million for 1H2023, mainly due to higher revenue contribution from Singapore dental clinics offset by lower revenue contribution from Singapore medical clinics and the impact of the weakening Malaysian Ringgit for the Group's operations in Malaysia. The Group's other business segment ie medical laboratory were impacted by lower demand for Covid-19 testing.

Dr Ng Chin Siau, Group Chief Executive Officer of Q&M, said, "The continual resilience of Q&M's Core Healthcare Business is well appreciated by investors and reflects the Group's well-established foundations. Further, we will focus on organic growth following significant expansion of our dental clinic network across Singapore and Malaysia in 2022. We will continue to invest in technology and implement strategies that will enable us to further optimise productivity across our clinic network."

Recently, Q&M launched its dedicated mobile App on both the Apple Appstore and Google Play. With just the click of a few buttons, a patient can select their preferred date, time and clinic location to make appointments to see the dentist. Q&M's patients can receive timely reminders before the appointment dates and view past and future appointments, reschedule or cancel appointments anytime, as well as manage their digital receipts through the App. Additionally, results of x-rays taken are uploaded into the App for quick reference. The patient will receive a 6-monthly reminder notification when it is time for them to attend their dental check-up, so as to ensure their dental and oral conditions are closely monitored.

Looking ahead

Q&M Group has devised a holistic strategy to foster sustainable growth focusing on organic growth by leveraging on our brand and expertise and capitalising on opportunities to expand our services and reach.

We are working hard to build a strong platform upon which our future growth can be firmly established based on the following 5 thrusts:

1. Building Strong Foundations- strengthening the basics

Our cluster management system is being enhanced with dentists and dental assistants working even more closely together with area managers to optimise both human and physical resource allocation throughout the network.

2. Improving efficiency – reducing costs and wastage

Our Group is mindful of keeping costs low and using central purchasing as much as possible to reduce wastage and ensure more just-in-time ordering so that we can also reduce storage costs correspondingly.

3. Medical Laboratory

Post-pandemic, the Group's medical laboratory business, Acumen Diagnostic will continue to develop its range of tests and solutions to maximise its intellectual property and research capabilities for various medical purposes. These include the tests for sepsis, identification of bacteria pathogens and their associated antimicrobial resistance in hospitalised pneumonia.

4. Expanding our brand- locally and overseas

Beyond Singapore, the Group continues to explore good opportunities to develop a new sustainable growth pillar through organic growth and further expansion of its dental business in Southeast Asia growing private dental healthcare market. We are also exploring the expansion of the Q&M brand and knowhow beyond our current borders. As a premium dental group with a strong reputation for high-quality products and services, we are working towards exporting our expertise regionally and beyond in a deliberate and decisive manner.

Commitment to our Community

Anchored in the Company's philosophy, Q&M Free Dental Clinic Limited, a registered charity under the Commission of Charities, opened its first free dental clinic on 10 July 2023 in Chai Chee, to provide essential dental treatment for the underprivileged individuals and families in need.

This press release is read in conjunction with Q&M's 1H2023 results release on SGXNET.

For more information, please read the attached SGXNET announcement and media release.

https://links.sgx.com/1.0.0/corporate-announcements/N9238L5A9JUG97NG/ca70061aa798c196bcb9132653f9e01c12ad35d1d3327823f3a120d1949a5e95

[1] Core Healthcare Business excludes contributions from the Group?s medical laboratory and expenses incurred on the development of the Group?s digital Artificial Intelligence (AI) guided clinical decision support system as well as rental rebates received from the Singapore Government.

About Q&M Dental Group (Singapore) Limited (QC7.SI)

Q&M Dental Group (Singapore) Limited (QC7.SI) ("Q&M" or together with its subsidiaries, the "Group") is a leading private dental healthcare group in Asia.

The Group owns the largest network of private dental outlets in Singapore, operating 108 dental outlets across the country. Underpinned by about 270 experienced dentists and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.

Outside of Singapore, the Group has 44 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People's Republic of China ("PRC"). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange that operates dental clinics and hospitals primarily in the north-eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within the ASEAN region.

The Q&M College of Dentistry was established in 2019 to offer postgraduate dental education as part of its commitment to continual education and professional development of dentists. It offers Singapore's first private postgraduate diploma programme in clinical dentistry.

In 2020, the Group expanded into the medical laboratories and research industry with the strategic investment into Acumen Diagnostics Pte. Ltd. ("Acumen"). Currently, Acumen focuses on developing its range of medical research, tests and solutions to secure viable patents and to achieve successful commercialisation of the medical products in the near future.

The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited ("SGX- ST") on 26 November 2009.

For more information on the Group, please visit www.QandMDental.com.sg

For more information, please contact:
Waterbrooks Consultants Pte Ltd
Wayne Koo: wayne.koo@waterbrooks.com.sg, +65 9338-8166
Derek Yeo: derek@waterbrooks.com.sg, +65 9791-4707
General: query@waterbrooks.com.sg, +65 9690-4959

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