GBA Business Confidence Index eases to the 50 neutral mark

HONG KONG, Jul 3, 2023 – (ACN Newswire) – Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today released the Standard Chartered GBA Business Confidence Index (GBAI) for the second quarter of this year. The current performance of "business confidence" eased to the 50 neutral mark while the expectations index remained in the expansionary territory (58.7), the second-highest reading in two years. The headline expectations index for credit also remained expansionary at 51.6, reflecting sanguine underlying growth expectations among companies in the region. Both expectations and credit indices point to further recovery in the third quarter.

Resilient investment appetite

The softer Q2 GBAI readings were expected considering the strong first-quarter GBAI performance brought by Mainland China's swift post-COVID sentiment rebound. The performance of underlying sub-indices was more diverse this quarter after a more uniform increase in Q1. Fixed Asset Investment had the highest score of 52.9 among components, suggesting that respondents remained optimistic towards the longer-term GBA business outlook, by acknowledging the need to invest in capacity expansion in anticipation of further demand normalisation.

Industry sub-indices vary

The current performance index for Professional Services rose 4.0 points to an industry-best 56.1. The sector's expectations index also outperformed by being the lone print above 60 (61.9). The current performance and expectations index of Financial Services and Innovation and Technology saw the largest quarter-to-quarter drops among sectors. Financial respondents' sentiment was driven by margin pressures and credit worries amid an easing recovery momentum while the tech sector continues to face many headwinds, led by the ongoing global semiconductor downcycle.

China on modest recovery path

"The dip in the index in Q2 reflects the normalisation of base effects, softening of nationwide macro data quarter-to-date, and the novelty of reopening was bound to wear off. However, the index did not fall back into contractionary territory, suggesting only a softening of the recovery momentum. Given that GBA is a microcosm of Mainland China's diverse economic drivers making it a bellwether for overall growth, we see the mainland managing to stay on a modest recovery path," said Mr Kelvin Lau, Senior Economist, Greater China, Standard Chartered.

More diverse performance among GBA cities

There was a more diverse city performance among the current performance sub-indices. Most notably, Shenzhen (from 51.5 to 51.9) and Dongguan (from 53.5 to 56.4) showed their second consecutive improvement while other city sub-indices fell. Shenzhen weathered weaker responses from its tech respondents by posting the highest manufacturing and trading score among all city sub-indices. Guangzhou and Hong Kong, the other two GBA core cities, outperformed Shenzhen across the other four industry sub-indices.

Sustained recovery momentum in the coming quarters

Ms Irina Fan, Director of Research at the HKTDC, said: "We continue to take comfort from the fact that all city expectations indices stood comfortably in the 50+ expansionary territory, consistent with our view of a sustained recovery momentum in the coming quarters. That includes Hong Kong, which, despite returning to the lowest score of the pack, still managed to record a solid 54.7 expectations print (led by retail and professional services), making it two straight quarters of expansion."

Overseas global supply chain migration yet to happen

Although there has been a lot of discussion about global supply chain shifts in the market, 91% of survey respondents said they have not moved any capacity overseas, and 87% reported no plans to do so for now. The survey found the biggest hurdles and concerns for relocating production capacity overseas are "cost of production higher than expected" topped the list at 34.6%, followed by "poor labour quality and productivity" at 29.9%, and "lack of good suppliers / proximity to suppliers" at 22.8%.

Related materials
– Standard Chartered GBA Business Confidence Index Report: https://www.sc.com/hk/gba/gba-index-report/
– HKTDC Research: https://research.hktdc.com/en/article/MTQxNzI2NzQ2MA

About Standard Chartered

We are a leading international banking group, with a presence in 57 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR's three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

About 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 enquiries

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Standard Chartered Bank (Hong Kong) Limited
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Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Nissin Foods Completes Acquisition of Equity Interest in Hong Kong Eastpeak Limited

HONG KONG, Jul 3, 2023 – (ACN Newswire) – Nissin Foods Company Limited ("Nissin Foods", together with its subsidiaries, the "Group"; Stock code: 1475) completed today the acquisition of 19% equity interest in Hong Kong Eastpeak Limited ("Hong Kong Eastpeak"), which wholly owns Eastpeak Trading (Shanghai) Co., Ltd. ("Shanghai Eastpeak"), making the two companies officially its wholly-owned subsidiaries on 3 July 2023.

Shanghai Eastpeak distributes Japanese food and beverage products in Mainland China. The key brands and products include: Demae Iccho crisp choco, Demae Iccho Yingyou green juices, KAGOME vegetable juices, Koikeya potato chips, Akai Bohshi biscuits and UCC coffee drinks, covering more than 300 products in 6 different categories.

Shanghai Eastpeak, which carries imported Japanese brand food and beverage products, is the distribution arm of the Group in Mainland China. Key brands it distributed include: Nissin, Demae Iccho, KAGOME, UCC and Akai Bohshi, etc., covering more than 300 products in 6 different categories. Its sales network comprises large domestic chain stores, high-end boutique supermarkets, convenience stores, and major online platforms in Mainland China.

Mr. Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "With the acquisition completed, we will have greater flexibility in deploying our operational capabilities in Mainland China. Distribution business is of strategic importance to the Group in achieving vertical development. We can now speed up integrating the business into the Group and expect to see greater yet synergies generated between the business and MC Marketing & Sales (Hong Kong) Limited, our distribution arm in Hong Kong, ultimately helping the Group improve its income and overall competitiveness."

In January 2020, Nissin Foods and Ms. LIU Feng, director and general manager of Shanghai Eastpeak, entered into a shareholders' and cooperation agreement to form a joint venture company i.e. Hong Kong Eastpeak, 81% held by Nissin Foods and 19% by Ms. LIU. After Ms. LIU's resignation from Shanghai Eastpeak in December 2022, the Group exercised the relevant call option and acquired her 19% stake in Hong Kong Eastpeak.

About Nissin Foods Company Limited
Nissin Foods Company Limited ("Nissin Foods", together with its subsidiaries, the "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China with a diversified portfolio of well-known and highly popular brands, primarily focusing on the premium instant noodle segment. The Group officially established its presence in Hong Kong in 1984 and is the largest instant noodle company in Hong Kong. The Group primarily manufactures and sells instant noodles, high-quality frozen food products, including frozen dim sum and frozen noodles, and also sells and distributes other food and beverage products, including retort pouches, snacks, mineral water, sauce and vegetable products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities.

Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. Nissin Foods is eligible for trading under Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect. For more information, please visit www.nissingroup.com.hk.

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

Unleashing the Power of Speed: New Launch Amazfit Cheetah Sets the Pace for Run Performance

KUALA LUMPUR, Jul 3, 2023 – (ACN Newswire) – Zepp Health Corporation (Zepp), a leading specialist in smart wearables and health technology, has officially launched its latest smartwatch, Amazfit Cheetah, in Malaysia. The Amazfit Cheetah series is specifically designed for runners, developed with industry-leading GPS technology that delivers unprecedented positioning accuracy.

Mr. Wu Jin, General Manager, APAC of Amazfit Malaysia said, "We are taking a new direction with Amazfit Cheetah series and diverging from our multi-sport focus. We heard the global voices of users and their love for running for health and fitness benefits, or the thrill of competition. Amazfit Cheetah series comes with runner specific features like the Max Track(TM) GPS boasting a proprietary dual-band circularly polarized GPS antenna providing 99.5% accuracy, AI-powered Zepp Coach(TM) for personalized training based on the user's performance and condition, and a 1,000 nits HD AMOLED display visible in the brightest sunlight. Users can choose to generate targeted running plans aimed at race types, just like a coach tailors the workout regimen."

An Amazfit advocate, En. Alrulmi Mokhtar, Head of Operations at a local corporation started recreational running as a way to lose weight and overcoming various heart-related illnesses and cardiovascular issues.

Alrulmi said, "As a running enthusiast, the Amazfit Cheetah is perfectly suitable for my lifestyle and running activities. It also comes with the latest innovative features which allow me to record my activities and monitor my health, allowing me to be more at ease with my lifestyle."

He added, "I find the design very attractive. The watch is lightweight at 32 grams, comes with long battery life and it is a worthwhile investment."

An Amazfit supporter En. Mohd Shahridzal, a product information master in a renowned beauty company, said, "I'm extremely impressed with Amazfit Cheetah! I'm a very active person. I hit the gym three times a week, cycle once or twice a week and run up to three times a week. This smartwatch comes with a lot of features that make it a great choice for those looking for a stylish and functional watch. The design is sleek and modern."

"Its 40mm display screen size with HD AMOLED screen is the perfect match as my daily health partner, most importantly, it comes with a strong processor with no lag time. I'm also pleasantly surprised by the GPS accuracy of the watch."

Avid runner and fitness enthusiast who is an Information Technology Professional, Mr. Michael Morales, used the Amazfit Cheetah Pro for a few weeks during his workouts which included trail running, Spartan training and strength training. He said, "The Amazfit Cheetah Pro is on par with the other high-end sport watches in the market. Amazfit Cheetah Pro's titanium alloy bezel and Corning GG3 tempered glass makes it durable in a high-end looking package."

"The watch was surprisingly lightweight and comfortable at 34 grams, I especially liked the breathable nylon strap making it a very comfortable fit no matter what activity I was doing. Also, the crown and button are easy to use when the touchscreen is not convenient."

Morales verified the accuracy of the GPS tracking and monitoring even when surrounded by tall buildings and trees when running in Malaysia's cityscapes or surrounding trails, which kept him on his planned route, on time and in good health through all the monitoring features.

The Amazfit Cheetah series is streamlined and lightweight, designed with runners in mind. It comes in two lines, the Amazfit Cheetah (Round) features a durable yet lightweight fibre-reinforced polymer bezel or the Amazfit Cheetah Pro with the premium titanium alloy bezel for those who need the extra durability and a touch of class. Amazfit Cheetah (Square) is expected soon. This smartwatch is still an Amazfit with seriously long battery life up to 14 days typical usage, offline maps, 100+ watch faces, 5 ATM water-resistance, 150+ sport modes of which outdoor running, treadmill, triathlon, HIIT and more are dedicated, interfaces to health and fitness apps, and even more through the Zepp OS 2.0 ecosystem of downloadable apps to the watch.

The Amazfit Cheetah comes in the colours, Speedster Grey liquid silicone strap, and is exclusively available on Shopee from 5-7 July for RM999 and made available in all platforms from 7th July onwards including Lazada. On first come, first serve basis, customers will walk away with one Xiaomi 10000mAh Power Bank as gift with purchase from 5-7 July.

Amazfit Cheetah Pro is not open for sale yet, kindly stay tune on Amazfit Cheetah Pro's availability on Amazfit Official Platform.

Availability

All featured Amazfit products are available for purchase at Amazfit's e-commerce partner platform https://bit.ly/Amazfit-Shopee-Cheetah and https://bit.ly/Amazfit-Lazada-Cheetah.

Hi-Res Images

Please download hi-res product and lifestyle images from this LINK. https://drive.google.com/drive/folders/1nbUTUGAjFF8tT17Yx0xy8MYU0xR7018T?usp=sharing

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

IBO Technology Announces FY2022/23 Annual Results

HONG KONG, Jul 3, 2023 – (ACN Newswire) – IBO Technology Company Limited ("IBO Technology" or the "Company", together with its subsidiaries, the "Group"; stock code: 2708.HK) announces the audited consolidated annual results for the year ended 31 March 2023 (the "Year"). The Group has been actively diversifying the development of its hardware business and announced the commencement of chip manufacturing business in May this year. This business is expected to complement the Group's three major businesses, namely 5G (communication equipment and private network solutions), Information Technology Application Innovation ("ITAI") IT (terminal products and industry solutions) and Internet of Things ("IoT") (products and solutions), to form a complete business model and industrial ecosystem.

During the Year, domestically, widespread lockdown and historic downturn in the property market were caused by the Outbreak of the 2019 Coronavirus (the "Pandemic"). Internationally, the Russian-Ukrainian war and the trade tension between China and the United States posed a huge impact on the international situation. The overall economic environment in the PRC was stagnant in the second half of the year, and a number of industries, including those in which the Group and the Group's customers operate, were inevitably affected to varying degrees. In order to maintain a healthy financial position, the Group took a prudent and pragmatic approach to its businesses in the second half of the Year, rather than blindly pursuing growth in business scale. Therefore, the Group recorded a revenue of approximately RMB907.27 million (FY2021/22: approximately RMB1,046.30 million), a gross profit of approximately RMB93.90 million (FY2021/22: approximately RMB178.60 million) and a gross profit margin of 10.3% (FY2021/22: 17.1%). In addition, since the impairment losses increased substantially year-on-year, no gain on change in fair value of derivative component of the convertible bonds was recorded and foreign exchange losses were recorded during the Year, loss attributable to owners of the Company for the Year was approximately RMB243.56 million (FY2021/22: profit attributable to owners of the Company of approximately RMB14.66 million).

Importance of the ITAI Industry continues to rise, while 5G development enters a critical period
With the rapid development of information technology, practical applications are expanding to include information security, cloud computing, big data, artificial intelligence and industrial internet, etc., the ITAI industry has become the top priority in the development of national strategies. In order to continuously improve and expand the development of the ITAI industry, the central government has continued to introduce relevant supporting policies and development strategies, meanwhile repeatedly mentioning the need to safeguard its national security in meetings.

Leveraging favorable policies, 5G technology has been developing in the PRC, and the industry application scenarios have been broadening, becoming a new engine in the construction of "Digital China". In order to continue to stimulate new vitality in 5G application innovation and achieve continuous breakthroughs in the depth and breadth of 5G applications, the central and local governments have been strengthening their support and introducing supportive policies, thereby steadily advancing the construction of 5G base stations.

General market conditions were poor in China, with multiple businesses being affected to varying degrees
Intelligent terminal products sales business is the largest contributor to the Group's revenue, accounting for 92.9% of its total revenue for the Year. During the Year, the Group continued the development, production and sales of customised IoT smart terminals to customers. Revenue from the intelligent terminal products sales business only recorded a year-on-year decrease of approximately 5.5% to approximately RMB842.61 million (FY2021/22: approximately RMB891.37 million), despite the poor general market conditions in China during the Year.

Regarding system integration business, based on the analysis and assessment of customers' needs, the Group provides customers with integrated and customised system solutions based on IoT and related technologies, including overall system planning, development and design, system equipment procurement, system software and hardware equipment integration, system implementation, pilot runs, as well as system management and maintenance. The Group's revenue from the system integration business is derived from one-off projects with fluctuating revenue as compared to other segments. Affected by the suspension of operation and production in a number of industries last year, the Group's system integration business recorded a revenue of approximately RMB0.43 million for the Year (FY2021/22: approximately RMB39.82 million).

With regard to software development business, the Group plans and designs the software system frameworks and function lists for customers, and also provides customised software application development services based on their business and management needs. Leveraging on its strong software development capabilities, the Group has been providing quality software application development services to serve customers in different industries for many years. The Group's software development business recorded a revenue of approximately RMB52.46 million for the Year (FY2021/22: approximately RMB104.23 million).

As for system maintenance services business, the Group provides software and hardware system maintenance services for information systems, including system equipment maintenance and management, database maintenance, daily system monitoring and system upgrade, etc. Given that the system maintenance services business is less affected by external factors and has already built a strong customer loyalty, the segment revenue increased by 8.2% year-on-year to RMB11.77 million (FY2021/22: approximately RMB10.88 million).

Actively investing in the development of the PRC chip manufacturing through investment in Hangzhou Yixin
With the gradual recovery of our economic environment, the Group will continue to diversify the development of its hardware business. On 29 May 2023, the Group announced an investment of an amount in RMB which is equal to HK$40 million (equivalent to RMB36,035,600) in 5.00% of the share capital of Hangzhou Yixin Micro Technology Co., Ltd.* ("Hangzhou Yixin"), a company that integrates the research and development, production and sales of constant pressure and constant power airflow sensing chips. Hangzhou Yixin holds a number of patents on constant pressure and constant power airflow sensing chips. The Group is entitled to further invest in Hangzhou Yixin to hold 35% to 46% of its share capital and become its controlling shareholder in the future.

The "airflow sensing chip" is one of the main components of electronic atomisation equipment and is in enormous demand in the electronic atomisation equipment market. PRC's electronic atomisation equipment industry is one of the sectors that is bucking the trend of growth during the Pandemic, and the number of patent applications related to electronic atomisation equipment has continued to rise in recent years, reflecting the industry's favourable development towards high technology. Looking ahead, the Group is optimistic about the future of the chip manufacturing market in the PRC and plans to increase its investment in the chip manufacturing market through further investment in Hangzhou Yixin. With the recovery of the current economic environment, the Group is keen to capitalise on the growth potential of Hangzhou Yixin in the relevant business areas and accelerate its exploration of the chip manufacturing sector, thereby broadening the source of revenue.

Mr. LAI Tse Ming, Chairman and Executive Director of IBO Technology, said, "There are close connection and synergy among our three major business segments in the aspects of underlying technology, application technology, supply chain, project and business model. In addition, the new chip manufacturing business also complements the three major businesses to form a complete business model and industrial ecosystem. The strong synergy between the businesses will help optimise the Group's strengths and comprehensive technological capabilities, promoting the Group to grow its business scale on the one hand, and creating a unique core strength on the other, thereby providing one-stop industrial digital solutions to customers in different industries and seizing golden opportunities in the fast-growing market. Looking forward, the Group will continue to operate under prudent commercial principles and pay close attention to the latest market developments, striving to create long-term and stable returns for our shareholders."

About IBO Technology Company Limited
IBO Technology Company Limited (Stock code: 2708.HK), a leading digital solutions provider, is principally engaged in providing 5G communication equipment and private network solutions, ITAI terminal products and industry solutions, IoT products and solutions, as well as industrial digital solutions in the PRC. The Group's businesses mainly cover four areas, namely (i) intelligent terminal products sales; (ii) system integration; (iii) software development; and (iv) system maintenance services. With nearly 20 years penetration in the IoT industry, the Group serves customers from both the public and private sectors in the PRC, including government authorities, large-scale state-owned enterprises and private enterprises. On 29 May 2023, IBO Technology Company Limited announced an investment in Hangzhou Yixin Micro Technology Co., Ltd.*, in order to commence chip manufacturing business.

For more details, please visit: http://www.ibotech.hk/

* The English name is not the official name and is translated for reference purpose only.

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

SMI Vantage: Acqusition of 51% Stake in Provino Logistics to Complement and Expand Current Business Areas in F&B

SINGAPORE, Jul 3, 2023 – (ACN Newswire) – SMI Vantage Limited, a company listed on the mainboard of the SGX, recently announced that the Company entered into a sales and purchase agreement ("the Agreement") with Michael Hadley and his partners, on the acquisition of a 51% stake in Provino Logistics Pte Ltd ("The Target").

The Target's business activities are based in Singapore and is primarily in third party logistics specializing in inventory management services to the wine and spirits and other alcoholic beverages industry including export services ("Business"). It uses a world class proprietary Warehouse Management System making the company a leader in the use of such technologies.

Combined with the Group Chief Executive Officer's ("CEO") considerable knowledge of, and global network in, the field of wines and spirits, the Board is of the view that the Proposed Acquisition will allow the Company to further develop its logistics business, an area which the Group already has considerable expertise.

CEO and President of SMI Vantage Mark Bedingham is a graduate of Oxford University and began his career with Jardine Matheson and was subsequently appointed as a Director of Jardine Pacific. He joined Moet Hennessy (LVMH Group) in the mid-1990s as the Regional Managing Director of APAC and served in that role for twenty years. Today, he also serves on the Board of The Artisanal Spirits Company (ASC), a company that owns the Scotch Malt Whisky Society (SMWS) a specialist bottler of cask strength single malt whisky and is a membership-based e-commerce business. He has also previously served as Executive Chairman in two large hospitality companies, both of which have a significant presence in Singapore.

"The Proposed Acquisition is part of the Group's corporate strategy to diversify and expand into complementary business areas within the food and beverage industry and will provide the Group with a new source of revenue, improve profitability and enhance shareholder value," said Mark Bedingham.

"I am extremely pleased to be partnering with SMI Vantage and believe that their relevant expertise and deep experience in logistics and the F&B business will allow Provino to grow significantly going forward. I am excited to see the fruits of this partnership pan out in the future, as we look to grow this business together," Michael Hadley added.

For details on the Agreement please refer to the Company's Announcement posted to SGX Net on [27 June 2013]

About SMI Vantage

SMI Vantage Limited is an investment and management company focused on capitalising on strong trends in the new economy including Food and Beverage related businesses, technology-based SaaS services and other high-tech platforms. Listed on the Main Board of the Singapore Stock Exchange, SMI Vantage Limited has a highly capable and experienced management team with a proven track record in building strong business partnerships and alliances.

For media queries, please reach out to:
Waterbrooks Consultants Pte Ltd
Wayne Koo – wayne.koo@waterbrooks.com.sg +65 9338-8166
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Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

DT100: Honouring powerful leaders driving technology forward

DUBAI, June 30, 2023 – (ACN Newswire) – Exito Media Concepts unveiled the DT 100, a magazine which commemorates the extraordinary accomplishments of technology leaders in the UAE at the Digital Transformation Summit which took place on the 14-15 of June 2023 at the Ritz Carlton, Dubai International, Financial Centre.

DT 100 recognises individuals who have made outstanding contributions to the advancement of technology in the region.

Here is the esteemed DT100 list:

Veneeth Purushotaman – Group Chief Information Officer, Aster DM healthcare
Srinivasan Sampath – Acting Chief Technology Officer, First Abu Dhabi Bank
Abdalla Al Ali – Director IT and Innovation, DMCC Authority
Aiman Othman – IT Director, Union Coop
Sebastian T. Samuel – Chief Information Officer, AW Rostamani Group
Tamer Hamed – Chief Information Officer, DUCAB
Eng. Isha Aljasmi – IT Director, Ministry of Energy & Infrastructure
Gigi Mathew Thomas – Group Head – IT & Digital Transformation, Ittihad International Investment LLC
Abdul Rahmaan Ismail – Head of IT UAE, SAAB Group
Rajesh Kumar Bhaskaran – Head – Core Technology Platforms, EMIRATES NBD
Munir Majdalawieh – Head of Information systems and Technology Management Department (Department Chair), Zayed University Dubai
Swapnil Kelaiya – Head of IT & Digital Transformation, Smith + Nephew
Alexei Ivanov – Head Of Information Technology, MAPYR FZCO
Rahul Otawat – Vice President – Data Science and Analytics, Mashreq Bank
SatyaShankar Chirravuri – Head of Technology Platforms – Cloud & Security, Al-Futtaim
Jayant Sharma – Digital Experience Platform Director, Miral Experiences
Somy Varghese – Head of Digital Transformation & Technology, Etoile Group
Himanshu Puri – Head Of Information Technology (CIO), King’s College Hospital London – UAE
Gyan Prakash Srivastava – Head – Data Management , Analytics & Data Governance, Mashreq Bank
Carl Siddons – SVP Digital Design, ALDAR – Real Estate
Amna Saleh AlHammadi – Head of Health Systems and Integration Section, Acting Director of Health Information Systems Department, Emirates Health Services
Akash Lall – General Manager IT Digital, Sobha Realty
Ehtisham Syed – Executive Director IT, Falconpack
Dr. Hamad Khalifa Al Nuaimi – Telecommunications Specialist, Abu Dhabi Police
Vineesha Hk. – Regional thought leader – Digital & CX UAE MENA, Women Leader of the Year
Dr. Sid Ahmed Benraouane – Dubai Government Advisor | MENA Government Advisor, Dubai Government
Dr. Ebrahim Al Alkeem – Digital Transformation, Cyber Security and Artificial Intelligence Expert, Government of Abu Dhabi United Arab Emirates
Dr. Ebrahim Hasan Al Khajeh – Division Director of Human Capital Member of the Strategic Transformation Committee, Abu Dhabi Customs United Arab Emirates
Suleiman Mohammed Aldabbas – Digital Transformation Expert – Public Sector, UAE
Awad Ahmed Ali El-Sidiq – Head of Artificial Intelligence & Analytics, ADNOC
Manal Allam – IT Head & Business Partner, Merck Group
Jad Hindy – Senior Vice President Marketing, Expo City Dubai
Kelly Machado – Digital Strategy & Transformation, UAE Government
Taghrid Alsaeed – Executive Director – Group Communications and Destination Marketing, Miral
Raed Kuhail – Executive Director, Digital and Technology, Miral
Sarfaraz Muneer – Vice President, Cyber Security and Technology Platform, Mubadala
Vishal Anand – Senior Director IT, Jumeirah Group
Aus Alzubaidi – Director of IT, Cybersecurity & Media Management, MBC Group (Middle East Broadcasting Corp)
Sumit Srivastava – Digital and Commercial officer, A leading Digital Services provider
Bart Pietruszka – Chief Data & Analytics Officer, Wholesale Data, Analytics and CRM, HSBC Bank Middle East
Nitin Bhandari – SVP & Head of Payit Digital Wallet, First Abu Dhabi Bank (FAB)
Giovanni Gavino Everduin – Head of Strategy & Innovation, Commercial Bank International
Dr. Thierry Lestable – Executive Director, Artificial Intelligence & Digital Science Research Center (AIDRC), Technology Innovation Institute (TII)
Kareem Refaay – Managing Director GCC & MENA, The London Institute of Banking & Finance
Moe Abeidat – Group VP of Technology (Executive Committee), Aramex International
Krishnan Gopi – Group Chief Disruption Officer, GEMS Education
Imran Kannuti – Head, Banking Operations Digitization & Transformation, Banque Misr UAE
Sivakumar Venkatraman – Chief Technology Officer, Lockton (MENA) Limited
Jayaraj Perumalsamy – Group Head of IT & Digital Transformation, Barakat Group of Companies
Ronit Ghose – Global Head – Future of Finance, Citi
ElFadl Ibrahim – Advisor, Digital Oilfield, ADNOC
Stephen Kruger – CTO, Careem
Chirenj Chandran – CEO, MySyara
Debbie Botha – Chief Partnership Officer, Women In Ai
Naushad Mohammed – Director – IT, Reem Hospital, Vamed Healthcare
Meshal Abdulla Binhussain – CIO Ministry of Finance
Eyad Kashkash – EVP, Group Head of IT, Al Ramz Corporation PJSC
Mamoun Alhomssey – Executive Vice President Technology, ADIB
Linoy Kidd – MSs cio menat, HSBC
Murali Mohan Thupakula – Group Director of IT – Digital Transformation, Geidea
Billel Ammour – Head of IT & Digital, Taqeef
Younis Othman – Senior Manager- Director of IT Department, Dubai Customs
Salahuddin Almohammadi – Group IT Director, HSA Group
Bisrat Degefa – Director – Head of Digital Developments, Gleeds
Ravindran Ramiah – CTO, Aafaq Islamic Finance PSC
Mohammed Ahteshamuddin – Head of Information & Technology, FlyDubai
Umesh Moolchandani – Chief Information Officer, Bin Dasmal Group
Santosh Shetty – CIO/Head of IT, Liwa Trading Enterprises LLC
Arun Kumar Mohta – Group IT Head, FJ Group
Vippon Kumar – Associate Director – IT, Plaza Premium Group
Ezzeddine Jradi – Chief Transformation and Business Excellence Officer, EMICOOL LLC
Hiren Desai – Head Of Information Technology, Burjeel Medical City
Vignesh Bala Pillai – Vice President, Technology, Mashreq
Manish Agarwal – Chief Information Officer, M H Enterprises LLC
Dylan Fernandes – Head Of Information Technology, Lavoya Restaurants Group
Somnath Sarkar – CISO – Group Head of Information Security, Mashreq Bank
Tarek Soubra – Chief Technology Officer, Al Maryah Community Bank
Shumon A Zaman – Chief Information and Digital Officer, Ali & Sons Holding LLC
Ibrahim Al Najjar – Vice President Information Technology, DP World
Ali H Ghunaim – Director Of Information Technology, Canadian Specialist Hospital
Suraj Nair – Director – Digital Services (Middle East, North Africa, Pakistan), Mondelēz International
Lenish Kannan – CIO, WESTERN INTERNATIONAL GROUP – NESTO/GEEPAS
Khaldun S.A Al Khaldi – VP- Head Of Enterprise Infrastructure Services, Dubai Islamic Bank
Jacob Mathew – Head Of Information Technology, Government of Abu Dhabi Entity
Syed Ali Naqvi – Head of Cyber Security, HBL – Habib Bank Limited , Dubai
Miguel Rio-Tinto – Group Chief Digital and Information Officer, Emirates NBD
Gokul Gopalakrishnan – Head of Information Technology, Acino
Peter Gesper – Director of Information Technology, Majid Al Futtaim
Neeraj Tiwari – Head of Digital Technology, Kuwait Food Company (Americana) , Dubai
Dr. Joseph George – Chief Technology Officer, Smart Salem
Sasidhar Merugu – Head of Information Technology, Shalina Healthcare
Sourabh Shukla – Head IT PMO, AWR
Mustansir Aziz – Head Of Information Technology, Automech Group
Jitesh Goradia – IT Director, DarGlobal
Aslam Labeeb – Head of Supply Chain & IT, Gulf International
Mohammed Tarik Kouba – Head of IT – Quality – Service and Technology Business Management.
Mohammed Ameen – CIO/CTO/Tech Director, Masafi LLC
Sanil Abdulla Manoly – Head of IT, Uuniversity Of Wollongong
Dylan Fernandes – Head Of Information Technology, Lavoya Restaurants Group
Dr. Tariq Al Hawi – Program Director, UAE Smart Government
Diaa Moustafa – Head – Technolgy Platform, Abu Dhabi Commercial Bank

About Exito:

Exito, which means success in Spanish, embodies our commitment to the success of our customers.

Each year, we host over 240 virtual and in-person conferences globally, bringing together audiences with world-class thought leaders and C-level executives across industries. Our meticulously crafted agendas, based on extensive research and valuable industry insights, facilitate business, knowledge transfer, deal flow, and impactful messaging for brands.

For more information about DT 100, including the complete list of nominees and the Digital Transformation Summit schedule, please visit our official event website: https://digitransformationsummit.com/uae/dt-100/

For press inquiries or media coverage requests,
Contact: Mithun Gopinath
Email: mithun.gopinath@exito-e.com

KGW to Raise RM16.73 Million from ACE Market IPO

KUALA LUMPUR, Jun 30, 2023 – (ACN Newswire) – KGW Group Berhad, a provider of logistics services including ocean freight services, air freight services and freight forwarding services as well as warehousing and distribution of healthcare-related products and devices, today launched the Group's prospectus for the upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad.

The IPO will raise RM16.73 million via the issuance of 79.66 million new shares at the IPO price of RM0.21 per share to fund KGW's future expansion as well as for working capital and repayment of bank borrowings. The proceeds will be used in the following manner:

– RM2.00 million to renovate the Group's three-storey office building and adjacent two-storey warehouse
– RM0.73 million for working capital purposes
– RM10.00 million to repay bank borrowings
– RM4.00 million allocated for estimated listing expenses

Managing Director of KGW, Dato' Roger Wong said, "We are an asset-light logistics provider that specialises in managing and coordinating the movement of goods within the supply chain. Instead of owning physical transportation assets such as ships, trains, or aircraft, we focus on providing more valuable services to our customers to facilitate their whole shipment process for better efficiency by leveraging partnerships and collaborations with existing transportation operators."

Head of Corporate Finance of TA Securities Holdings Berhad, Mr. Ku Mun Fong said, "The Group has developed a solid network with other logistics services providers in various parts of the world throughout the years of operation. This has enabled the Group to arrange for shipping of goods from Malaysia to various locations including those in Asia, Africa, Europe, North and South America. This gives the Group an edge in competing and growing the business."

Managing Director of Eco Asia Capital Advisory Sdn. Bhd., Mr. Kelvin Khoo said, "KGW Group will implement several strategies such as actively expand its pool of customers exporting to non-USA destinations, expand its headcount to scale up operations, expand its warehousing services for healthcare related products and develop new business opportunities for their logistics services through providing e-commerce solutions. Under the stewardship of Dato' Roger and his Management team, we are very confident that KGW will be able to successfully implement their future business plan after its Listing, and will be able to further strengthen their presence in the logistics industry."

KGW recorded revenue of RM43.38 million, RM63.52 million, RM195.42 million and RM229.70 million for the financial year ended 31 December 2019 ("FYE 2019"), FYE 2020, FYE 2021 and FYE 2022 respectively. The Group registered profit before tax of RM0.60 million, RM2.86 million, RM20.75 million and RM21.87 million for FYE 2019, FYE 2020, FYE 2021 and FYE 2022 respectively.

TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO while Eco Asia is the Financial Adviser.

KGW Group Berhad: https://www.kgwlogistics.com/

Image
1. Ms. Kelly Neng, Director, Eco Asia Capital Advisory Sdn Bhd
2. Mr. Kelvin Khoo, Managing Director, Eco Asia Capital Advisory Sdn Bhd
3. Mr. Ku Mun Fong, Head of Corporate Finance, TA Securities Holdings Berhad
4. Tengku Faizwa Binti Tengku Razif, Independent Non-Executive Chairman, KGW Group Berhad
5. Dato' Roger Wong, Managing Director, KGW Group Berhad
6. Ms. Cheok Hui Yen, Executive Director/ Chief Operating Officer, KGW Group Berhad
7. Mr. Tah Heong Beng, Executive Director, Operations, TA Securities Holdings Berhad [L-R]
( https://photos.acnnewswire.com/20230630.KGW.jpg )

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ADICON Holdings Limited One of the Top Three ICL Service Providers in China is Successfully Listed on Main Board of SEHK

HONG KONG, Jun 30, 2023 – (ACN Newswire) – ADICON Holdings Limited ("ADICON" or "Company", stock code: 9860.HK), one of the top three independent clinical laboratory ("ICL") service providers in China in terms of total revenues during the three years ended 31 December 2020, 2021 and 2022, according to Frost & Sullivan, successfully listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") today with a board lot size of 500 shares.

Morgan Stanley Asia Limited and Jefferies Hong Kong Limited are the Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers.

ADICON has also entered into cornerstone investment agreements with investors including MR Global (HK) Limited (Mindray), Snibe Diagnostic (Hong Kong) Company Limited, Fosun Diagnostics (Shanghai) Co., Ltd., Timestar Elite Limited and Corelink. Based on the final offer price of HK$12.32 per Offer Share, according to the cornerstone investment agreements, the cornerstone investors have subscribed for a total of 23.647 million shares, accounting for approximately 3.27% of the company's issued share capital immediately after the global offering is completed.

Ms. YANG Ling, Chairwoman and Non-Executive Director of ADICON Holdings Limited, and Managing Director at Carlyle Asia, commented: "ADICON is one of the top three ICL service providers in China and an industry pioneer. Since Carlyle's investment in ADICON in 2018, the Company has transformed from a founder-led business into a corporation that is led by a board of directors and an experienced management team. The successful Hong Kong listing of ADICON today is a recognition of the Company's achievements and I would like to express my sincere gratitude for the trust from the founders, Mr. Lin Jixun and Mr. Lin Feng, and thank and congratulate the management team and everyone at ADICON. We believe the ICL market in China is still in a nascent stage and there remains significant room for the industry to grow. Carlyle will continue to work with the management team and support the Company as it seeks to embark on its next phase of growth."

About ADICON Holdings Limited

ADICON Holdings Limited ("ADICON" or "Company", stock code: 9860.HK) is one of the top three independent clinical laboratory ("ICL") service providers in China in terms of total revenues during the three years ended 31 December 2020, 2021 and 2022, according to Frost & Sullivan. The Company offers comprehensive and best-in-class testing services primarily to hospitals and health check centers through an integrated network of 33 self-operated laboratories across China, as of June 9, 2023. Leveraging its strong R&D and quality control capabilities, ADICON offers comprehensive, high-quality and advanced test portfolios. As of December 31, 2022, ADICON offers a competitive and comprehensive catalog of over 4,000 medical diagnostic tests, including over 1,700 routine tests and over 2,300 esoteric tests, allowing ADICON to provide testing services to over 19,000 customers, ranging from medical institutions, health check centers, to biopharmaceutical companies and CROs. As a market leader in providing ICL services in China, ADICON is committed to continuously serving patients and the general public with its high-quality testing services and becoming a trusted and reliable partner for medical professionals and the general public.

This press release is issued by Porda Havas International Finance Communications Group for and on behalf of ADICON Holdings Limited For further information, please contact:

Porda Havas International Finance Communications Group
Telephone: 852 3150 6788
Email: pearl.hk@pordahavas.com

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

Cure Brain Cancer Foundation Unveils Fellowship Awardees

SYDNEY, AU, Jun 30, 2023 – (ACN Newswire) – Cure Brain Cancer Foundation (CBCF) is pleased to announce the highly anticipated recipients of this year's prestigious Early Career Fellowships. This unrivaled funding opportunity is set to empower researchers, propelling them closer to breakthrough discoveries in the battle against brain cancer.

Designed to fuel cutting-edge research initiatives, CBCF research grants are championing advancements that hold the potential to revolutionize survival outcomes for individuals challenged by this formidable disease. From project grants to life-changing fellowships, this comprehensive program undertakes an unwavering commitment to addressing the urgent needs of the brain cancer community.

This round of CBCF grant funding is the first time ever that CBCF will be awarding two exceptional individuals: Andrew Garvie of Monash University and Dr. Alexander Davenport of Walter and Eliza Hall Medical Institute. CBCF grant monies, totaling over $1.4 million in the last 21 months, and the awarding of not one but two Early Career Fellowships in 2023, demonstrate the Foundation's commitment to supporting and empowering talented individuals in the field of cancer research.

"Today, we celebrate exceptional minds and groundbreaking projects that have the power to change lives," remarked Lance Kawaguchi, Chief Executive Officer for the Cure Brain Cancer Foundation. "These grants stand as a testament to our unwavering dedication to funding groundbreaking research that makes tangible progress in the relentless pursuit of a cure for cancer."

With this year's grant fellowship awards, innovative research initiatives will receive the vital resources they need to forge ahead with their life-saving endeavors for a duration of three years. By providing crucial funding and support for this extended period, CBCF remains at the vanguard of the fight against cancer, driving tangible impact and instilling hope in the hearts of patients and their families.

About Cure Brain Cancer Foundation

Cure Brain Cancer Foundation is an Australia-based non-profit organization that is working globally to rapidly improve disease survival through funding innovative brain cancer research. It is the largest dedicated funder of brain cancer research in Australia and has invested over $30 million into clinical trials and pre-clinical efforts across pediatric and adult brain cancers. The Foundation's mission is to unite the brain cancer community and rapidly increase patient survival and quality of life. For more information, visit https://www.curebraincancer.org.au/.

Contact Information
Melinda Koski
MK Public Relations
press@mkpublicrelations.co

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

Taiwan Excellence Pavillion Fosters Connections in ASEAN and Beyond Through Successful Debut at AT X SG

SINGAPORE, Jun 30, 2023 – (ACN Newswire) – Excellence in design, quality, Taiwanese R&D, manufacturing and innovation. These attributes of Taiwan Excellence were on full display at the Asia Tech x Singapore (AT x SG) event from 6 to 9 June. The show, which concluded today, saw an array of award-winning technologies in the fields of 5G and smart telecom, security and solutions for enterprises and Artificial intelligence of things (AIoT) smart applications from 15 Taiwanese tech brands showcased to over 17,000 attendees from across the globe.

These leading Taiwanese companies including AIFA, Nilvana, PanelSemi, PLANET, MSi, TPI Software, and Z-Com came together for the first time at AT x SG to display solutions ranging from mini LED displays to smart home controllers, and industrial wireless routers.

Ms Wu Yiling, Director of Taiwan Trade Centre Singapore, said, "We are delighted to make a successful debut at this landmark event. Singapore is an important trade partner of Taiwan, and we have a close and long established bilateral relationship. Through Taiwan Excellence's inaugural participation at ATxSG, we hope to promote partnerships, share our cutting-edge technologies, and facilitate knowledge exchange between leading Taiwanese companies, innovators and members of the ICT industry in the Southeast Asia region, affirming Taiwan's commitment to Singapore and to the region."

Key products that were on display included:

PanelSemi's MagiCylinder, the world's first AM Mini LED direct view display that is flexible, rollable and multi-tiling-able. The MagiCylinder offers low energy consumption and a good cooling system, and is the world's thinnest at only 1mm thickness.

MSi FUNTORO's TS Series, a smart and complete solution with a cloud management platform for electric buses. Through the integration of CANBUS and various sensors, the vehicle and driving data are collected and transmitted to the backend platform to allow real-time fleet management and remote monitoring on system devices, driver behaviors, on-duty time and battery efficiency to enhance fleet safety and operation efficiency.

Z-Com's SP230-S5, an outdoor wireless AP which can operate in point to point, bridge & coverage modes. Based on 802.11ac Wave 2 technology, throughput is up to 1,167Mbps. With built-in high gain antennas & ERIP 38dBm, its coverage can be 400 meters & transmit over 6KM for video streaming at PTP mode.

Rick Ng, Business Development Manager, Z-Com Inc., said, "Being at this exhibition is an important step in gaining a foothold in Singapore and ASEAN. This show has provided us a good opportunity to showcase the latest technology from Z-Com Inc. which focuses on smart telecom including long range wireless routers."

Yvonne Chien, General Manager Singapore, TPI Software, "This experience was definitely a good one, where we were able to showcase our award winning product that uses IP technology, the DigiRunner, a platform for businesses to manage their application programming interfaces, allowing us to form a deeper connection with customers from all over ASEAN."

Chloe Hsu, Marketing Manager, PLANET Technology Corporation, added, "For 20 years in a row, a total of 63 products and solutions from PLANET have received the Taiwan Excellence Award. We are delighted to be able to showcase three of these award winning products and solutions here at the exhibition. We will continue to provide innovative network products for the global market, utilizing advanced technology and environmental sustainability to realize a sustainable network communication infrastructure."

This marked Taiwan's inaugural participation at Southeast Asia's leading trade technology exhibition, which has opened up avenues for the market to reach out to not only their trading and technology partners in the region but also foster further collaborations with partners from ASEAN and the world.

More information about the products displayed at the Taiwan Excellence Pavilion can be found here. https://preciouscomms.box.com/s/p28iqs9c4xgmjcn01lxhsxxoe10atlm3

About Taiwan Excellence Awards

The Taiwan Excellence Awards were established by the Ministry of Economic Affairs in 1993. Every year, eligible candidates are subjected to a rigorous and stringent selection system that covers four major aspects of "R&D", "Design", "Quality" and "Marketing" to identify outstanding products that offer "Innovative Value" while satisfying the key criterion of being "made in Taiwan". Products that have been selected for the Taiwan Excellence Awards would serve as examples of the domestic industries and be promoted by the government in the international market to shape the creative image of Taiwanese businesses.

The organizers of Taiwan Excellence

– The Bureau of Foreign Trade (BOFT), which was established by the Ministry of Economic Affairs (MOEA) on January 1, 1969, is responsible for formulating Taiwan's international trade policies, promoting trade, and managing trade-related activities.

– Taiwan External Trade Development Council (TAITRA)
Founded in 1970, TAITRA is Taiwan's foremost nonprofit trade promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises to expand their global reach. Together with Taipei World Trade Center (TWTC) and Taiwan Trade Center (TTC), TAITRA has formed a global network dedicated to promoting world trade.

For Media Enquiries
PRecious Communications for TAITRA
Tel: +65 6303 0567
Email: taitra2023@preciouscomms.com

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